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Statement of Consolidated Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash from Operations      
Net income (loss) $ (773) $ 38 $ 570
Adjustments to reconcile net (loss) income to cash from operations:      
Depreciation, depletion, and amortization 632 617 664
Deferred income taxes (Q) (22) 219 147
Equity loss (income), net of dividends (H) 201 4 (138)
Restructuring and other charges, net (D) 184 696 1,128
Net loss (gain) from investing activities—asset sales (U) 18 10 (354)
Net periodic pension benefit cost (O) 6 54 47
Stock-based compensation (N) 35 40 39
Premium paid on early redemption of debt     43
Loss (gain) on mark-to-market derivative financial contracts 26 (44) (24)
Other 78 53 49
Changes in assets and liabilities, excluding effects of divestitures and foreign currency translation adjustments:      
Decrease (increase) in receivables 104 (59) (414)
Decrease (increase) in inventories (J) 243 (547) (639)
Decrease (increase) in prepaid expenses and other current assets 39 44 (41)
(Decrease) increase in accounts payable, trade (74) 189 354
Decrease in accrued expenses (133) (173) (38)
(Decrease) increase in taxes, including income taxes (146) (152) 301
Pension contributions (O) (24) (17) (579)
Increase (decrease) to other noncurrent assets (210) (87) (160)
Decrease in noncurrent liabilities (93) (63) (35)
Cash provided from operations 91 822 920
Financing Activities      
Additions to debt (M) 127 4 495
Payments on debt (M) (72) (1) (1,294)
Proceeds from the exercise of employee stock options (N) 1 22 25
Repurchase of common stock (N)   (500) (150)
Dividends paid on Alcoa common stock (N) (72) (72) (19)
Payments related to tax withholding on stock-based compensation awards (34) (19) (1)
Financial contributions for the divestiture of businesses (C) (52) (33) (17)
Contributions from noncontrolling interest (A) 188 214 21
Distributions to noncontrolling interest (30) (379) (215)
Other 1 (4) (3)
Cash provided from (used for) financing activities 57 (768) (1,158)
Investing Activities      
Capital expenditures (531) (480) (390)
Proceeds from the sale of assets and businesses (C) 4 5 966
Additions to investments (H) (70) (32) (11)
Sale of investments (H)   10  
Other 12 2  
Cash (used for) provided from investing activities (585) (495) 565
Effect of exchange rate changes on cash and cash equivalents and restricted cash 10 (9) (13)
Net change in cash and cash equivalents and restricted cash (427) (450) 314
Cash and cash equivalents and restricted cash at beginning of year 1,474 1,924 1,610
Cash and cash equivalents and restricted cash at end of year $ 1,047 $ 1,474 $ 1,924