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10-Q Filing

HOWMET AEROSPACE INC. CIK: 4281 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0000004281-22-000008
Period End Date 20220331
Filing Date 20220503
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance hwm-20220331_htm.xml
Balance Sheet 66 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $1.00M USD Point-in-time
Allowance for doubtful accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent - USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $720.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $520.00M USD Point-in-time
Receivables from customers, less allowances of $ in 2022 and $ in 2021 AccountsReceivableNetCurrent $479.00M USD Point-in-time
Receivables from customers, less allowances of $ in 2022 and $ in 2021 AccountsReceivableNetCurrent $367.00M USD Point-in-time
Other receivables OtherReceivablesNetCurrent $50.00M USD Point-in-time
Other receivables OtherReceivablesNetCurrent $53.00M USD Point-in-time
Inventories InventoryNet $1.40B USD Point-in-time
Inventories InventoryNet $1.48B USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $195.00M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $250.00M USD Point-in-time
Total current assets AssetsCurrent $2.74B USD Point-in-time
Total current assets AssetsCurrent $2.78B USD Point-in-time
Properties, plants, and equipment, net PropertyPlantAndEquipmentNet $2.47B USD Point-in-time
Properties, plants, and equipment, net PropertyPlantAndEquipmentNet $2.40B USD Point-in-time
Goodwill Goodwill $4.05B USD Point-in-time
Goodwill Goodwill $4.07B USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $149.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $184.00M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $543.00M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $549.00M USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $202.00M USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $215.00M USD Point-in-time
Total assets Assets $10.13B USD Point-in-time
Total assets Assets $10.22B USD Point-in-time
Accounts payable, trade AccountsPayableCurrent $777.00M USD Point-in-time
Accounts payable, trade AccountsPayableCurrent $732.00M USD Point-in-time
Accrued compensation and retirement costs EmployeeRelatedLiabilitiesCurrent $172.00M USD Point-in-time
Accrued compensation and retirement costs EmployeeRelatedLiabilitiesCurrent $198.00M USD Point-in-time
Taxes, including income taxes TaxesPayableCurrent $61.00M USD Point-in-time
Taxes, including income taxes TaxesPayableCurrent $63.00M USD Point-in-time
Accrued interest payable InterestPayableCurrent $69.00M USD Point-in-time
Accrued interest payable InterestPayableCurrent $74.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $171.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $183.00M USD Point-in-time
Short-term debt ShortTermBorrowings $5.00M USD Point-in-time
Short-term debt ShortTermBorrowings $3.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.25B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.25B USD Point-in-time
Long-term debt, less amount due within one year LongTermDebtAndCapitalLeaseObligations $4.23B USD Point-in-time
Long-term debt, less amount due within one year LongTermDebtAndCapitalLeaseObligations $4.23B USD Point-in-time
Accrued pension benefits DefinedBenefitPensionPlanLiabilitiesNoncurrent $771.00M USD Point-in-time
Accrued pension benefits DefinedBenefitPensionPlanLiabilitiesNoncurrent $746.00M USD Point-in-time
Accrued other postretirement benefits OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent $152.00M USD Point-in-time
Accrued other postretirement benefits OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent $153.00M USD Point-in-time
Other noncurrent liabilities and deferred credits DeferredCreditsAndOtherLiabilitiesNoncurrent $307.00M USD Point-in-time
Other noncurrent liabilities and deferred credits DeferredCreditsAndOtherLiabilitiesNoncurrent $291.00M USD Point-in-time
Total liabilities Liabilities $6.71B USD Point-in-time
Total liabilities Liabilities $6.67B USD Point-in-time
Contingencies and commitments CommitmentsAndContingencies - USD Point-in-time
Contingencies and commitments CommitmentsAndContingencies - USD Point-in-time
Preferred stock PreferredStockValue $55.00M USD Point-in-time
Preferred stock PreferredStockValue $55.00M USD Point-in-time
Common stock CommonStockValue $422.00M USD Point-in-time
Common stock CommonStockValue $418.00M USD Point-in-time
Additional capital AdditionalPaidInCapital $4.29B USD Point-in-time
Additional capital AdditionalPaidInCapital $4.12B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $725.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $603.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.86B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.86B USD Point-in-time
Total equity StockholdersEquity $3.51B USD Point-in-time
Total equity StockholdersEquity $3.46B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $10.13B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $10.22B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Sales RevenueFromContractWithCustomerExcludingAssessedTax $1.21B USD 1 Quarter
Sales RevenueFromContractWithCustomerExcludingAssessedTax $1.32B USD 1 Quarter
Cost of goods sold (exclusive of expenses below) CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization $950.00M USD 1 Quarter
Cost of goods sold (exclusive of expenses below) CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization $873.00M USD 1 Quarter
Selling, general administrative, and other expenses SellingGeneralAndAdministrativeExpense $69.00M USD 1 Quarter
Selling, general administrative, and other expenses SellingGeneralAndAdministrativeExpense $65.00M USD 1 Quarter
Research and development expenses ResearchAndDevelopmentExpense $5.00M USD 1 Quarter
Research and development expenses ResearchAndDevelopmentExpense $7.00M USD 1 Quarter
Provision for depreciation and amortization DepreciationAndAmortization $68.00M USD 1 Quarter
Provision for depreciation and amortization DepreciationAndAmortization $66.00M USD 1 Quarter
Restructuring and other charges RestructuringCharges $2.00M USD 1 Quarter
Restructuring and other charges RestructuringCharges $9.00M USD 1 Quarter
Operating income OperatingIncomeLoss $189.00M USD 1 Quarter
Operating income OperatingIncomeLoss $230.00M USD 1 Quarter
Interest expense, net InterestExpense $58.00M USD 1 Quarter
Interest expense, net InterestExpense $72.00M USD 1 Quarter
Other expense, net NonoperatingIncomeExpense $-1.00M USD 1 Quarter
Other expense, net NonoperatingIncomeExpense $-4.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $171.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $113.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $40.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $33.00M USD 1 Quarter
Net income NetIncomeLoss $80.00M USD 1 Quarter
Net income NetIncomeLoss $131.00M USD 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersBasic $130.00M USD 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersBasic $79.00M USD 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersDiluted $79.00M USD 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersDiluted $130.00M USD 1 Quarter
Basic (in usd per share) EarningsPerShareBasic $0.18 USD 1 Quarter
Basic (in usd per share) EarningsPerShareBasic $0.31 USD 1 Quarter
Diluted (in usd per share) EarningsPerShareDiluted $0.31 USD 1 Quarter
Diluted (in usd per share) EarningsPerShareDiluted $0.18 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 419.00M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 434.00M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 439.00M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 425.00M shares 1 Quarter
Cash Flow Statement 74 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $80.00M USD 1 Quarter
Net income NetIncomeLoss $131.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $68.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $66.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $28.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $10.00M USD 1 Quarter
Restructuring and other charges RestructuringAndOtherCharges $2.00M USD 1 Quarter
Restructuring and other charges RestructuringAndOtherCharges $9.00M USD 1 Quarter
Net loss from investing activitiesasset sales GainLossOnSaleOfInvestments $-3.00M USD 1 Quarter
Net loss from investing activitiesasset sales GainLossOnSaleOfInvestments $-3.00M USD 1 Quarter
Net periodic pension cost DefinedBenefitPensionPlansNetPeriodicBenefitCost $6.00M USD 1 Quarter
Net periodic pension cost DefinedBenefitPensionPlansNetPeriodicBenefitCost $4.00M USD 1 Quarter
Stock-based compensation IncreaseDecreaseInSharebasedCompensation $6.00M USD 1 Quarter
Stock-based compensation IncreaseDecreaseInSharebasedCompensation $11.00M USD 1 Quarter
Other OtherNoncashIncomeExpense $-14.00M USD 1 Quarter
Other OtherNoncashIncomeExpense $-22.00M USD 1 Quarter
Increase in receivables IncreaseDecreaseInReceivables $123.00M USD 1 Quarter
Increase in receivables IncreaseDecreaseInReceivables $144.00M USD 1 Quarter
(Increase) decrease in inventories IncreaseDecreaseInInventories $87.00M USD 1 Quarter
(Increase) decrease in inventories IncreaseDecreaseInInventories $-20.00M USD 1 Quarter
Decrease in prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-23.00M USD 1 Quarter
Decrease in prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-5.00M USD 1 Quarter
Increase in accounts payable, trade IncreaseDecreaseInAccountsPayableTrade $26.00M USD 1 Quarter
Increase in accounts payable, trade IncreaseDecreaseInAccountsPayableTrade $68.00M USD 1 Quarter
Decrease in accrued expenses IncreaseDecreaseInAccruedLiabilities $-54.00M USD 1 Quarter
Decrease in accrued expenses IncreaseDecreaseInAccruedLiabilities $-92.00M USD 1 Quarter
Increase in taxes, including income taxes IncreaseDecreaseInAccruedTaxesPayable $6.00M USD 1 Quarter
Increase in taxes, including income taxes IncreaseDecreaseInAccruedTaxesPayable $12.00M USD 1 Quarter
Pension contributions PensionContributions $11.00M USD 1 Quarter
Pension contributions PensionContributions $29.00M USD 1 Quarter
Increase in noncurrent assets IncreaseDecreaseInOtherNoncurrentAssets $1.00M USD 1 Quarter
Increase in noncurrent assets IncreaseDecreaseInOtherNoncurrentAssets $2.00M USD 1 Quarter
Decrease in noncurrent liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $-17.00M USD 1 Quarter
Decrease in noncurrent liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $-14.00M USD 1 Quarter
Cash provided from (used for) operations NetCashProvidedByUsedInOperatingActivities $55.00M USD 1 Quarter
Cash provided from (used for) operations NetCashProvidedByUsedInOperatingActivities $-6.00M USD 1 Quarter
Net change in short-term borrowings (original maturities of three months or less) ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess $-2.00M USD 1 Quarter
Net change in short-term borrowings (original maturities of three months or less) ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess $-3.00M USD 1 Quarter
Payments on debt (original maturities greater than three months) RepaymentsOfLongTermDebt $361.00M USD 1 Quarter
Payments on debt (original maturities greater than three months) RepaymentsOfLongTermDebt - USD 1 Quarter
Debt issuance costs PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Debt issuance costs PaymentsOfDebtIssuanceCosts $1.00M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $175.00M USD 1 Quarter
Proceeds from exercise of employee stock options ProceedsFromStockOptionsExercised $7.00M USD 1 Quarter
Proceeds from exercise of employee stock options ProceedsFromStockOptionsExercised $8.00M USD 1 Quarter
Dividends paid to shareholders PaymentsOfOrdinaryDividends $1.00M USD 1 Quarter
Dividends paid to shareholders PaymentsOfOrdinaryDividends $9.00M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-14.00M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-11.00M USD 1 Quarter
Cash used for financing activities NetCashProvidedByUsedInFinancingActivities $-194.00M USD 1 Quarter
Cash used for financing activities NetCashProvidedByUsedInFinancingActivities $-368.00M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $62.00M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $55.00M USD 1 Quarter
Proceeds from the sale of assets and businesses ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets - USD 1 Quarter
Proceeds from the sale of assets and businesses ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets $1.00M USD 1 Quarter
Cash receipts from sold receivables ProceedsFromSaleOfFinanceReceivables - USD 1 Quarter
Cash receipts from sold receivables ProceedsFromSaleOfFinanceReceivables $57.00M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-1.00M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities - USD 1 Quarter
Cash (used for) provided from investing activities NetCashProvidedByUsedInInvestingActivities $-61.00M USD 1 Quarter
Cash (used for) provided from investing activities NetCashProvidedByUsedInInvestingActivities $3.00M USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents - USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-1.00M USD 1 Quarter
Net change in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-200.00M USD 1 Quarter
Net change in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-372.00M USD 1 Quarter
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $722.00M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.61B USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.24B USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $522.00M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $722.00M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.61B USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.24B USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $522.00M USD Point-in-time
Stockholders Equity 19 line items
Line Item Tag Value Unit Period
Common stock, dividends per share (in usd per share) CommonStockDividendsPerShareDeclared $0.02 USD 1 Quarter
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.66B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.58B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.46B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.51B USD Point-in-time
Net income NetIncomeLoss $80.00M USD 1 Quarter
Net income NetIncomeLoss $131.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $2.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $-1.00M USD 1 Quarter
Common share, value DividendsCommonStockCash $8.00M USD 1 Quarter
Repurchase and retirement of common stock StockRepurchasedDuringPeriodValue $175.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $11.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $6.00M USD 1 Quarter
Common stock issued: compensation plans StockIssuedDuringPeriodValueShareBasedCompensation $-2.00M USD 1 Quarter
Common stock issued: compensation plans StockIssuedDuringPeriodValueShareBasedCompensation $-8.00M USD 1 Quarter
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.66B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.58B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.46B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.51B USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $80.00M USD 1 Quarter
Net income NetIncomeLoss $131.00M USD 1 Quarter
Change in unrecognized net actuarial loss and prior service cost related to pension and other postretirement benefits OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-10.00M USD 1 Quarter
Change in unrecognized net actuarial loss and prior service cost related to pension and other postretirement benefits OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-42.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-44.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-31.00M USD 1 Quarter
Net change in unrecognized gains on cash flow hedges OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $20.00M USD 1 Quarter
Net change in unrecognized gains on cash flow hedges OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $4.00M USD 1 Quarter
Total Other comprehensive (loss) income, net of tax OtherComprehensiveIncomeLossNetOfTax $2.00M USD 1 Quarter
Total Other comprehensive (loss) income, net of tax OtherComprehensiveIncomeLossNetOfTax $-1.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $82.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $130.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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