The following table details the activity of the three components that comprise Accumulated other comprehensive loss for both Alcoa Corporation’s shareholders and Noncontrolling interest:


	Alcoa Corporation						Noncontrolling interest
	Second quarter ended June 30,						Second quarter ended June 30,
	2023			2022			2023			2022
Pension and other postretirement benefits (M)
Balance at beginning of period	$	66		$	(860	)	$	(5	)	$	(12	)
Other comprehensive income (loss):
Unrecognized net actuarial loss and prior service cost/benefit		(18	)		30			(2	)		1
Tax benefit (expense)(2)		8			(6	)		—			—
Total Other comprehensive (loss) income before reclassifications, net of tax		(10	)		24			(2	)		1
Amortization of net actuarial loss and prior service cost/benefit(1)		26			29			—			(1	)
Tax expense(2)		(6	)		(1	)		—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		20			28			—			(1	)
Total Other comprehensive income (loss)		10			52			(2	)		—
Balance at end of period	$	76		$	(808	)	$	(7	)	$	(12	)

Foreign currency translation
Balance at beginning of period	$	(2,683	)	$	(2,288	)	$	(1,025	)	$	(839	)
Other comprehensive income (loss)		25			(370	)		11			(132	)
Balance at end of period	$	(2,658	)	$	(2,658	)	$	(1,014	)	$	(971	)

Cash flow hedges (N)
Balance at beginning of period	$	(1,038	)	$	(1,926	)	$	1		$	—
Other comprehensive income:
Net change from periodic revaluations		241			1,184			—			1
Tax expense(2)		(38	)		(164	)		—			—
Total Other comprehensive income before reclassifications, net of tax		203			1,020			—			1
Net amount reclassified to earnings:
Aluminum contracts(3)		33			132			—			—
Interest rate contracts(5)		(3	)		—			—			—
Foreign exchange contracts(6)		(3	)		(3	)		—			—
Sub-total		27			129			—			—
Tax expense(2)		(4	)		(12	)		—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		23			117			—			—
Total Other comprehensive income		226			1,137			—			1
Balance at end of period	$	(812	)	$	(789	)	$	1		$	1

Total Accumulated other comprehensive loss	$	(3,394	)	$	(4,255	)	$	(1,020	)	$	(982	)


	Alcoa Corporation						Noncontrolling interest
	Six months ended June 30,						Six months ended June 30,
	2023			2022			2023			2022
Pension and other postretirement benefits (M)
Balance at beginning of period	$	62		$	(882	)	$	(5	)	$	(13	)
Other comprehensive income (loss):
Unrecognized net actuarial loss and prior service cost/benefit		(18	)		23			(2	)		1
Tax benefit (expense)(2)		8			(5	)		—			—
Total Other comprehensive (loss) income before reclassifications, net of tax		(10	)		18			(2	)		1
Amortization of net actuarial loss and prior service cost/benefit(1)		30			57			—			—
Tax expense(2)		(6	)		(1	)		—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		24			56			—			—
Total Other comprehensive income (loss)		14			74			(2	)		1
Balance at end of period	$	76		$	(808	)	$	(7	)	$	(12	)

Foreign currency translation
Balance at beginning of period	$	(2,685	)	$	(2,614	)	$	(1,040	)	$	(937	)
Other comprehensive income (loss)		27			(44	)		26			(34	)
Balance at end of period	$	(2,658	)	$	(2,658	)	$	(1,014	)	$	(971	)

Cash flow hedges (N)
Balance at beginning of period	$	(916	)	$	(1,096	)	$	1		$	(1	)
Other comprehensive income (loss):
Net change from periodic revaluations		54			121			—			2
Tax expense(2)		—			(11	)		—			—
Total Other comprehensive income before reclassifications, net of tax		54			110			—			2
Net amount reclassified to earnings:
Aluminum contracts(3)		94			242			—			—
Financial contracts(4)		(20	)		—			—			—
Interest rate contracts(5)		(2	)		4			—			—
Foreign exchange contracts(6)		(8	)		(3	)		—			—
Sub-total		64			243			—			—
Tax expense(2)		(14	)		(46	)		—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		50			197			—			—
Total Other comprehensive income		104			307			—			2
Balance at end of period	$	(812	)	$	(789	)	$	1		$	1

Total Accumulated other comprehensive loss	$	(3,394	)	$	(4,255	)	$	(1,020	)	$	(982	)

(1)

These amounts were included in the computation of net periodic benefit cost for pension and other postretirement benefits (see Note M).

(2)

These amounts were reported in Provision for income taxes on the accompanying Statement of Consolidated Operations.

(3)

These amounts were reported in Sales on the accompanying Statement of Consolidated Operations.

(4)

These amounts were reported in Cost of goods sold on the accompanying Statement of Consolidated Operations.

(5)

These amounts were reported in Other expenses (income), net on the accompanying Statement of Consolidated Operations.

(6)

For the second quarter and six-month period of 2023, $4 was reported in Cost of goods sold (both periods) and $(7) and $(12) were reported in Sales, respectively, on the accompanying Statement of Consolidated Operations. For the second quarter and six-month period of 2022, $(3) was reported in Sales (both periods) on the accompanying Statement of Consolidated Operations.

(7)

A positive amount indicates a corresponding charge to earnings and a negative amount indicates a corresponding benefit to earnings.