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
	2023			2022			2021			2023			2022			2021
Pension and other postretirement benefits (O)
Balance at beginning of period	$	62		$	(882	)	$	(2,536	)	$	(5	)	$	(13	)	$	(67	)
Other comprehensive income (loss):
Unrecognized net actuarial gain (loss) and prior service cost/benefit		(112	)		263			550			(13	)		7			30
Tax (expense) benefit(2)		17			(42	)		(37	)		2			—			(6	)
Total Other comprehensive income (loss) before reclassifications, net of tax		(95	)		221			513			(11	)		7			24
Amortization of net actuarial loss and prior service cost/benefit(1)		39			723			1,144			1			1			30
Tax expense(2)		(6	)		—			(3	)		—			—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		33			723			1,141			1			1			30
Total Other comprehensive income (loss)		(62	)		944			1,654			(10	)		8			54
Balance at end of period	$	—		$	62		$	(882	)	$	(15	)	$	(5	)	$	(13	)

Foreign currency translation
Balance at beginning of period	$	(2,685	)	$	(2,614	)	$	(2,385	)	$	(1,040	)	$	(937	)	$	(844	)
Other comprehensive income (loss)		92			(71	)		(229	)		57			(103	)		(93	)
Balance at end of period	$	(2,593	)	$	(2,685	)	$	(2,614	)	$	(983	)	$	(1,040	)	$	(937	)

Cash flow hedges (P)
Balance at beginning of period	$	(916	)	$	(1,096	)	$	(708	)	$	1		$	(1	)	$	(1	)
Other comprehensive (loss) income:
Net change from periodic revaluations		(295	)		(119	)		(782	)		—			2			(2	)
Tax benefit(2)		70			43			140			—			—			1
Total Other comprehensive (loss) income before reclassifications, net of tax		(225	)		(76	)		(642	)		—			2			(1	)
Net amount reclassified to earnings:
Aluminum contracts(3)		181			316			288			—			—			—
Financial contracts(4)		(20	)		—			2			—			—			1
Interest rate contracts(5)		(5	)		5			8			(1	)		—			1
Foreign exchange contracts(6)		(26	)		(5	)		(3	)		—			—			—
Sub-total		130			316			295			(1	)		—			2
Tax expense(2)		(41	)		(60	)		(41	)		—			—			(1	)
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		89			256			254			(1	)		—			1
Total Other comprehensive (loss) income		(136	)		180			(388	)		(1	)		2			—
Balance at end of period	$	(1,052	)	$	(916	)	$	(1,096	)	$	—		$	1		$	(1	)

Total Accumulated other comprehensive loss	$	(3,645	)	$	(3,539	)	$	(4,592	)	$	(998	)	$	(1,044	)	$	(951	)

(1)

These amounts were included in the computation of net periodic benefit cost for pension and other postretirement benefits. The amounts related to settlements and/or curtailments of certain pension and other postretirement benefits for Alcoa Corporation include $21, $633, and $952 for the years ended December 31, 2023, 2022, and 2021, respectively. The amounts related to settlements and/or curtailments of certain pension and other postretirement benefits for Noncontrolling interest include $0, ($1), and $25 for the years ended December 31, 2023, 2022, and 2021, respectively (see Note O).

(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 included in Other (income) expenses, net on the accompanying Statement of Consolidated Operations.

(6)

In 2023, $5 was reported in Cost of goods sold and ($31) was reported in Sales on the accompanying Statement of Consolidated Operations. In 2022, $5 was reported in Cost of goods sold and ($10) was reported in Sales 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.