Table of Contents Funding and Cash Flows It is Arconic’s policy to fund amounts for pension plans sufficient to meet the minimum requirements set forth in applicable country benefits laws and tax laws. Periodically, Arconic contributes additional amounts as deemed appropriate. In 2019 and 2018, cash contributions to Arconic’s pension plans were $268 and $298, respectively. The $268 includes $53 contributed to the Company’s U.S. plans that was in excess of the minimum required under ERISA. The contribution to the Company’s pension plans in 2020 is estimated to be $475 (of which $403 is for U.S. plans). The minimum required is $415, along with approximately $60 of contributions related to actions designed to reduce future obligations. During the third quarter of 2016, the Pension Benefit Guaranty Corporation approved management’s plan to separate the Alcoa Inc. pension plans between Arconic Inc. and Alcoa Corporation. The plan stipulated that Arconic make cash contributions of $150 over a period of 30 months (from November 1, 2016) to its two largest pension plans. The Company satisfied the requirements of the plan by making payments of $34, $66, and $50 in April 2019, March 2018, and April 2017, respectively. Benefit payments expected to be paid to pension and other postretirement benefit plans’ participants and expected Medicare Part D subsidy receipts are as follows utilizing the current assumptions outlined above: Arconic sponsors savings and investment plans in various countries, primarily in the United States. Arconic’s contributions and expenses related to these plans were $125, $123, and $89 in 2019, 2018, and 2017, respectively. In the United States, employees may contribute a portion of their compensation to the plans, and Arconic matches a portion of these contributions in equivalent form of the investments elected by the employee. The components of income from continuing operations before income taxes were as follows: Defined Contribution Plans G. Income Taxes For the year ended December 31, Pension benefits paid Gross Other post- retirement benefits Medicare Part D subsidy receipts Net Other post- retirement benefits 2020 $ 470 $ 80 $ 5 $ 75 2021 465 80 5 75 2022 460 80 5 75 2023 455 80 5 75 2024 450 75 5 70 Thereafter 2,120 260 25 235 $ 4,420 $ 655 $ 50 $ 605 For the year ended December 31, 2019 2018 2017 United States $ 275 $ 518 $ 500 Foreign 300 350 (30) $ 575 $ 868 $ 470 82