Supplemental Guarantor Information (Tables)

12 Months Ended

Mar. 31, 2015

Supplemental Guarantor Information [Abstract]

Consolidating statement of operations

CONSOLIDATING STATEMENT OF OPERATIONS

(In millions)

	Year Ended March 31, 2015
	Parent			Guarantors			Non- Guarantors			Eliminations			Consolidated
Net sales	$	665		$	9,525		$	2,743		$	(1,786	)	$	11,147
Cost of goods sold (exclusive of depreciation and amortization)	650			8,413			2,514			(1,784		)	9,793
Selling, general and administrative expenses	6			344			77			—			427
Depreciation and amortization	18			258			76			—			352
Research and development expenses	—			49			1			—			50
Interest expense and amortization of debt issuance costs	319			74			7			(74		)	326
Gain on assets held for sale, net	(5		)	(17		)	—			—			(22		)
Restructuring and impairment, net	1			33			3			—			37
Equity in net loss of non-consolidated affiliates	—			5			—			—			5
Equity in net (income) loss of consolidated subsidiaries	(456		)	(30		)	—			486			—
Other (income) expense, net	(18		)	(46		)	7			74			17
	515			9,083			2,685			(1,298		)	10,985
Income before income taxes	150			442			58			(488		)	162
Income tax provision (benefit)	2			(8		)	20			—			14
Net income	148			450			38			(488		)	148
Net income attributable to noncontrolling interests	—			—			—			—			—
Net income attributable to our common shareholder	$	148		$	450		$	38		$	(488	)	$	148
Comprehensive (loss) income	$	(322	)	$	30		$	(7	)	$	(38	)	$	(337	)
Less: Comprehensive loss attributable to noncontrolling interest	—			—			(15		)	—			(15		)
Comprehensive (loss) income attributable to our common shareholder	$	(322	)	$	30		$	8		$	(38	)	$	(322	)

CONSOLIDATING STATEMENT OF OPERATIONS

(In millions)

	Year Ended March 31, 2014
	Parent			Guarantors			Non- Guarantors			Eliminations			Consolidated
Net sales	$	693		$	8,080		$	2,416		$	(1,422	)	$	9,767
Cost of goods sold (exclusive of depreciation and amortization)	677			7,055			2,158			(1,422		)	8,468
Selling, general and administrative expenses	48			338			75			—			461
Depreciation and amortization	16			246			72			—			334
Research and development expenses	1			43			1			—			45
Interest expense and amortization of debt issuance costs	315			28			1			(40		)	304
Gain on assets held for sale, net	—			(6		)	—			—			(6		)
Restructuring and impairment, net	8			59			8			—			75
Equity in net loss of non-consolidated affiliates	—			12			—			—			12
Equity in net (income) loss of consolidated subsidiaries	(448		)	(99		)	—			547			—
Other (income) expense, net	(35		)	(57		)	11			40			(41		)
	582			7,619			2,326			(875		)	9,652
Income before income taxes	111			461			90			(547		)	115
Income tax provision (benefit)	7			16			(12		)	—			11
Net income	104			445			102			(547		)	104
Net income attributable to noncontrolling interests	—			—			—			—			—
Net income attributable to our common shareholder	$	104		$	445		$	102		$	(547	)	$	104
Comprehensive income	$	281		$	590		$	152		$	(744	)	$	279
Less: Comprehensive loss attributable to noncontrolling interest	—			—			(2		)	—			(2		)
Comprehensive income attributable to our common shareholder	$	281		$	590		$	154		$	(744	)	$	281

CONSOLIDATING STATEMENT OF OPERATIONS

(In millions)

	Year Ended March 31, 2013
	Parent			Guarantors			Non- Guarantors			Eliminations			Consolidated
Net sales	$	781		$	8,076		$	2,440		$	(1,485	)	$	9,812
Cost of goods sold (exclusive of depreciation and amortization)	740			7,028			2,194			(1,485		)	8,477
Selling, general and administrative expenses	(19		)	341			76			—			398
Depreciation and amortization	14			220			58			—			292
Research and development expenses	7			39			—			—			46
Interest expense and amortization of debt issuance costs	320			16			(3		)	(35		)	298
Gain (loss) on assets held for sale	(5		)	2			—			—			(3		)
Loss on extinguishment of debt	7			—			—			—			7
Restructuring and impairment, net	12			33			2			—			47
Equity in net loss of non-consolidated affiliates	—			16			—			—			16
Equity in net (income) loss of consolidated subsidiaries	(455		)	(89		)	—			544			—
Other (income) expense, net	(49		)	(49		)	11			35			(52		)
	572			7,557			2,338			(941		)	9,526
Income before income taxes	209			519			102			(544		)	286
Income tax provision	7			57			19			—			83
Net income	202			462			83			(544		)	203
Net income attributable to noncontrolling interests	—			—			1			—			1
Net income attributable to our common shareholder	$	202		$	462		$	82		$	(544	)	$	202
Comprehensive income	$	125		$	364		$	85		$	(448	)	$	126
Less: Comprehensive income attributable to noncontrolling interest	—			—			1			—			1
Comprehensive income attributable to our common shareholder	$	125		$	364		$	84		$	(448	)	$	125

Consolidating balance sheet

CONSOLIDATING BALANCE SHEET (In millions)

	As of March 31, 2015
	Parent			Guarantors			Non- Guarantors			Eliminations			Consolidated
ASSETS
Current assets
Cash and cash equivalents	$	4		$	365		$	259		$	—		$	628
Accounts receivable, net of allowances
— third parties	23			1,034			232			—			1,289
— related parties	385			154			158			(644		)	53
Inventories	55			1,084			294			(2		)	1,431
Prepaid expenses and other current assets	6			89			17			—			112
Fair value of derivative instruments	19			55			9			(6		)	77
Deferred income tax assets	—			70			9			—			79
Assets held for sale	—			6			—			—			6
Total current assets	492			2,857			978			(652		)	3,675
Property, plant and equipment, net	95			2,549			898			—			3,542
Goodwill	—			596			11			—			607
Intangible assets, net	19			562			3			—			584
Investments in and advances to non-consolidated affiliates	—			447			—			—			447
Investments in consolidated subsidiaries	3,013			597			—			(3,610		)	—
Deferred income tax assets	—			47			48			—			95
Other long-term assets
— third parties	57			70			10			—			137
— related parties	1,265			64			—			(1,314		)	15
Total assets	$	4,941		$	7,789		$	1,948		$	(5,576	)	$	9,102
LIABILITIES AND (DEFICIT) EQUITY
Current liabilities
Current portion of long-term debt	$	22		$	8		$	78		$	—		$	108
Short-term borrowings
— third parties	394			381			71			—			846
— related parties	—			122			—			(122		)	—
Accounts payable
— third parties	27			1,195			632			—			1,854
— related parties	78			393			42			(469		)	44
Fair value of derivative instruments	83			62			10			(6		)	149
Accrued expenses and other current liabilities
— third parties	99			412			61			—			572
— related parties	—			47			6			(53		)	—
Deferred income tax liabilities	—			20			—			—			20
Total current liabilities	703			2,640			900			(650		)	3,593
Long-term debt, net of current portion
— third parties	4,205			28			116			—			4,349
— related parties	49			1,209			56			(1,314		)	—
Deferred income tax liabilities	—			254			7			—			261
Accrued postretirement benefits	30			534			184			—			748
Other long-term liabilities	36			175			10			—			221
Total liabilities	5,023			4,840			1,273			(1,964		)	9,172
Commitments and contingencies
Temporary equity - intercompany	—			1,681			—			(1,681		)	—
Shareholder’s (deficit) equity
Common stock	—			—			—			—			—
Additional paid-in capital	1,404			—			—			—			1,404
(Accumulated deficit) retained earnings	(925		)	1,831			711			(2,542		)	(925		)
Accumulated other comprehensive (loss) income	(561		)	(563		)	(48		)	611			(561		)
Total (deficit) equity of our common shareholder	(82		)	1,268			663			(1,931		)	(82		)
Noncontrolling interests	—			—			12			—			12
Total (deficit) equity	(82		)	1,268			675			(1,931		)	(70		)
Total liabilities and (deficit) equity	$	4,941		$	7,789		$	1,948		$	(5,576	)	$	9,102

CONSOLIDATING BALANCE SHEET (In millions)

	As of March 31, 2014
	Parent			Guarantors			Non- Guarantors			Eliminations			Consolidated
ASSETS
Current assets
Cash and cash equivalents	$	4		$	372		$	133		$	—		$	509
Accounts receivable, net of allowances
— third parties	15			1,121			246			—			1,382
— related parties	1,093			193			57			(1,289		)	54
Inventories	36			880			257			—			1,173
Prepaid expenses and other current assets	5			76			20			—			101
Fair value of derivative instruments	12			26			14			(1		)	51
Deferred income tax assets	—			96			5			—			101
Assets held for sale	28			74			—			—			102
Total current assets	1,193			2,838			732			(1,290		)	3,473
Property, plant and equipment, net	100			2,485			928			—			3,513
Goodwill	—			600			11			—			611
Intangible assets, net	19			617			4			—			640
Investments in and advances to non-consolidated affiliates	—			612			—			—			612
Investments in consolidated subsidiaries	3,273			612			—			(3,885		)	—
Deferred income tax assets	—			28			52			—			80
Other long-term assets
— third parties	73			89			11			—			173
— related parties	844			61			—			(893		)	12
Total assets	$	5,502		$	7,942		$	1,738		$	(6,068	)	$	9,114
LIABILITIES AND EQUITY
Current liabilities
Current portion of long-term debt	$	21		$	10		$	61		$	—		$	92
Short-term borrowings
— third parties	367			287			69			—			723
— related parties	32			809			—			(841		)	—
Accounts payable
— third parties	35			912			471			—			1,418
— related parties	89			377			29			(442		)	53
Fair value of derivative instruments	14			40			7			(1		)	60
Accrued expenses and other current liabilities
— third parties	104			358			85			—			547
— related parties	250			4			2			(6		)	250
Deferred income tax liabilities	—			16			—			—			16
Liabilities held for sale	10			1			—			—			11
Total current liabilities	922			2,814			724			(1,290		)	3,170
Long-term debt, net of current portion
— third parties	4,219			40			100			—			4,359
— related parties	49			788			56			(893		)	—
Deferred income tax liabilities	—			419			6			—			425
Accrued postretirement benefits	44			422			155			—			621
Other long-term liabilities	28			236			7			—			271
Total liabilities	5,262			4,719			1,048			(2,183		)	8,846
Commitments and contingencies
Temporary equity - intercompany	—			1,681			—			(1,681		)	—
Shareholder’s equity
Common stock	—			—			—			—			—
Additional paid-in capital	1,404			—			—			—			1,404
(Accumulated deficit) retained earnings	(1,073		)	1,684			680			(2,364		)	(1,073		)
Accumulated other comprehensive (loss) income	(91		)	(142		)	(18		)	160			(91		)
Total equity of our common shareholder	240			1,542			662			(2,204		)	240
Noncontrolling interests	—			—			28			—			28
Total equity	240			1,542			690			(2,204		)	268
Total liabilities and equity	$	5,502		$	7,942		$	1,738		$	(6,068	)	$	9,114

Consolidating statement of cash flows

CONSOLIDATING STATEMENT OF CASH FLOWS

(In millions)

	Year Ended March 31, 2015
	Parent			Guarantors			Non- Guarantors			Eliminations			Consolidated
OPERATING ACTIVITIES
Net cash provided by (used in) operating activities	$	29		$	659		$	161		$	(245	)	$	604
INVESTING ACTIVITIES
Capital expenditures	(17		)	(404		)	(97		)	—			(518		)
Proceeds from sales of assets, net of transaction fees and hedging
— third parties	29			88			—			—			117
Proceeds (outflows) from investment in and advances to affiliates, net	250			5			—			(275		)	(20		)
(Outflows) proceeds from settlement of other undesignated derivative instruments, net	(19		)	23			1			—			5
Net cash provided by (used in) investing activities	243			(288		)	(96		)	(275		)	(416		)
FINANCING ACTIVITIES
Proceeds from issuance of long-term and short-term borrowings
— third parties	—			315			47			—			362
— related parties	—			500			3			(503		)	—
Principal payments of long-term and short-term borrowings
— third parties	(21		)	(266		)	(37		)	—			(324		)
— related parties	—			(80		)	—			80			—
Revolving credit facilities and other, net
— third parties	27			97			36			—			160
— related parties	(25		)	(686		)	—			711			—
Return of capital to our common shareholder	(250		)	—			—			—			(250		)
Proceeds from issuance of intercompany equity	—			—			13			(13		)	—
Dividends, noncontrolling interests and intercompany	—			(244		)	(2		)	245			(1		)
Debt issuance costs	(3		)	—			—			—			(3		)
Net cash (used in) provided by financing activities	(272		)	(364		)	60			520			(56		)
Net increase in cash and cash equivalents	—			7			125			—			132
Effect of exchange rate changes on cash	—			(14		)	1			—			(13		)
Cash and cash equivalents — beginning of period	4			372			133			—			509
Cash and cash equivalents — end of period	$	4		$	365		$	259		$	—		$	628

CONSOLIDATING STATEMENT OF CASH FLOWS

(In millions)

	Year Ended March 31, 2014
	Parent			Guarantors			Non- Guarantors			Eliminations			Consolidated
OPERATING ACTIVITIES
Net cash provided by (used in) operating activities	$	144		$	893		$	233		$	(568	)	$	702
INVESTING ACTIVITIES
Capital expenditures	(22		)	(492		)	(203		)	—			(717		)
Proceeds from the sale of assets, net of transaction fees
— third parties	—			7			1			—			8
— related parties	—			8			—			—			8
(Outflows) proceeds from investment in and advances to affiliates, net	(261		)	(41		)	—			286			(16		)
(Outflows) proceeds from settlement of other undesignated derivative instruments, net	(21		)	21			15			—			15
Net cash (used in) provided by investing activities	(304		)	(497		)	(187		)	286			(702		)
FINANCING ACTIVITIES
Proceeds from issuance of long-term and short-term borrowings
— third parties	—			147			22			—			169
— related parties	—			—			56			(56		)	—
Principal payments of long-term and short-term borrowings
— third parties	(19		)	(143		)	(2		)	—			(164		)
Revolving credit facilities and other, net
— third parties	162			44			2			—			208
— related parties	25			208			—			(233		)	—
Intercompany return of capital	—			—			(3		)	3			—
Intercompany dividends	—			(479		)	(89		)	568			—
Debt issuance costs	(8		)	—			—			—			(8		)
Net cash provided by (used in) financing activities	160			(223		)	(14		)	282			205
Net increase in cash and cash equivalents	—			173			32			—			205
Effect of exchange rate changes on cash	—			3			—			—			3
Cash and cash equivalents — beginning of period	4			196			101			—			301
Cash and cash equivalents — end of period	$	4		$	372		$	133		$	—		$	509

CONSOLIDATING STATEMENT OF CASH FLOWS

(In millions)

	Year Ended March 31, 2013
	Parent			Guarantors			Non- Guarantors			Eliminations			Consolidated
OPERATING ACTIVITIES
Net cash provided by (used in) operating activities	$	87		$	230		$	202		$	(316	)	$	203
INVESTING ACTIVITIES
Capital expenditures	(11		)	(491		)	(273		)	—			(775		)
Proceeds from the sale of assets, net of transaction fees
— third parties	7			12			—			—			19
— related parties	—			2			—			—			2
(Outflows) proceeds from investment in and advances to affiliates, net	(313		)	(20		)	—			336			3
Proceeds (outflow) from settlement of undesignated derivative instruments, net	13			4			(13		)	—			4
Net cash (used in) provided by investing activities	(304		)	(493		)	(286		)	336			(747		)
FINANCING ACTIVITIES
Proceeds from issuance of long-term and short-term borrowings
— third parties	80			98			141			—			319
— related parties	49			9			—			(58		)	—
Principal payments of long-term and short-term borrowings
— third parties	(92		)	(5		)	—			—			(97		)
— related parties	—			(26		)	—			26			—
Revolving credit facilities and other, net
— third parties	205			127			—			—			332
— related parties	(10		)	286			(17		)	(259		)	—
Proceeds from the issuances of intercompany equity	—			1			44			(45		)	—
Dividends, noncontrolling interests and intercompany	—			(237		)	(81		)	316			(2		)
Acquisition of noncontrolling interest in Novelis Korea Ltd.	(9		)	—			—			—			(9		)
Debt issuance costs	(8		)	—			—			—			(8		)
Net cash provided by (used in) financing activities	215			253			87			(20		)	535
Net (decrease) increase in cash and cash equivalents	(2		)	(10		)	3			—			(9		)
Effect of exchange rate changes on cash	—			(9		)	2			—			(7		)
Cash and cash equivalents — beginning of period	6			215			96			—			317
Cash and cash equivalents — end of period	$	4		$	196		$	101		$	—		$	301