Restructuring and Other Charges, Net (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Other Charges, Net

Restructuring and other charges, net were comprised of the following:

	2023			2022			2021
Settlements and/or curtailments related to retirement benefits (O)	$	21		$	632		$	977
Severance and employee termination costs		11			1			1
Loss on divestitures		—			79			—
Asset impairments		50			58			75
Asset retirement obligations (R)		41			34			23
Environmental remediation (S)		27			21			15
Other		36			(7	)		82
Reversals of previously recorded charges		(2	)		(122	)		(45	)
Restructuring and other charges, net	$	184		$	696		$	1,128

Schedule of Restructuring and Other Charges, Net by Reportable Segments, Pretax

Alcoa Corporation does not include Restructuring and other charges, net in the results of its reportable segments. The impact of allocating such charges to segment results would have been as follows:

	2023		2022			2021
Alumina(1)	$	8	$	(27	)	$	1
Aluminum		169		82			184
Segment total		177		55			185
Corporate		7		641			943
Total Restructuring and other charges, net	$	184	$	696		$	1,128

(1)Beginning in January 2023, the Company changed its operating segments, by combining the Bauxite and Alumina segments, and reported its financial results in the following two segments: (i) Alumina and (ii) Aluminum (see Note E).

Activity and Reserve Balances for Restructuring Charges

Activity and reserve balances for restructuring charges were as follows:

	Severance and employee termination costs			Other costs			Total
Balances at December 31, 2020	$	6		$	57		$	63
Restructuring charges, net		1			80			81
Cash payments		(4	)		(25	)		(29	)
Reversals and other		—			(22	)		(22	)
Balances at December 31, 2021		3			90			93
Restructuring charges, net		1			73			74
Cash payments		(2	)		(37	)		(39	)
Reversals and other		(1	)		(10	)		(11	)
Balances at December 31, 2022		1			116			117
Restructuring charges, net		11			55			66
Cash payments		(6	)		(118	)		(124	)
Reversals and other		—			4			4
Balances at December 31, 2023	$	6		$	57		$	63