Investment in and Advances to Non-Consolidated Affiliates and Related Party Transactions (Tables)

12 Months Ended

Mar. 31, 2015

Investment In and Advances To Non-Consolidated Affiliates and Related Party Transactions [Abstract]

Schedule of equity method investments, ownership percentage

The following table summarizes the ownership structure and our ownership percentage of the non-consolidated affiliates in which we have an investment as of March 31, 2015 and 2014, and which we account for using the equity method. We do not control our non-consolidated affiliates, but have the ability to exercise significant influence over their operating and financial policies. We have no material investments that we account for using the cost method.

Affiliate Name	Ownership Structure	Ownership Percentage
Aluminium Norf GmbH (Alunorf)	Corporation	50%
Consorcio Candonga (A)	Unincorporated Joint Venture	50%

(A) In December 2014, we sold our share of the joint venture of Consorcio Candonga to a third party for cash of $63 million (net of related gains on currency derivatives and transaction fees).

Period-end account balances with non-consolidated affiliates, shown as related party balances

Included in the accompanying consolidated financial statements are transactions and balances arising from business we conduct with these non-consolidated affiliates, which we classify as related party transactions and balances. The following table describes the period-end account balances that we had with these non-consolidated affiliates, shown as related party balances in the accompanying consolidated balance sheets (in millions). We had no other material related party balances with non-consolidated affiliates.

	March 31,
	2015		2014
Accounts receivable-related parties	$	53	$	54
Other long-term assets-related parties	$	15	$	12
Accounts payable-related parties	$	44	$	53

The following table summarizes the assets, liabilities and equity of our equity method affiliates in the aggregate as of March 31, 2015 and 2014 (in millions).

	March 31,
	2015		2014
Assets:
Current assets	$	145	$	183
Non-current assets	357		484
Total assets	$	502	$	667
Liabilities:
Current liabilities	$	51	$	132
Non-current liabilities	232		268
Total liabilities	283		400
Equity:
Total equity	219		267
Total liabilities and equity	$	502	$	667

Summary of condensed results of operations of equity method affiliates

The following table summarizes the results of operations of our equity method affiliates in the aggregate for the years ending March 31, 2015, 2014 and 2013; and the nature and amounts of significant transactions that we had with our non-consolidated affiliates (in millions). The amounts in the table below are disclosed at 100% of the operating results of these affiliates.

	Year Ended March  31,
	2015			2014		2013
Net sales	$	524		$	550	$	489
Costs and expenses related to net sales	527			543		488
Provision for taxes on income	—			4		2
Net (loss) income	$	(3	)	$	3	$	(1	)
Purchase of tolling services from Aluminium Norf GmbH (Alunorf)	$	261		$	275	$	244