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,
	2024			2023			2024			2023
Pension and other postretirement benefits (L)
Balance at beginning of period	$	9		$	66		$	(14	)	$	(5	)
Other comprehensive income (loss):
Unrecognized net actuarial gain/loss and prior service cost/benefit		10			(18	)		7			(2	)
Tax (expense) benefit(2)		(2	)		8			(2	)		—
Total Other comprehensive income (loss) before reclassifications, net of tax		8			(10	)		5			(2	)
Amortization of net actuarial gain/loss and prior service cost/benefit(1)		5			26			—			—
Tax expense(2)		—			(6	)		—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		5			20			—			—
Total Other comprehensive income (loss)		13			10			5			(2	)
Balance at end of period	$	22		$	76		$	(9	)	$	(7	)

Foreign currency translation
Balance at beginning of period	$	(2,715	)	$	(2,683	)	$	(1,037	)	$	(1,025	)
Other comprehensive (loss) income		(60	)		25			(16	)		11
Balance at end of period	$	(2,775	)	$	(2,658	)	$	(1,053	)	$	(1,014	)

Cash flow hedges (M)
Balance at beginning of period	$	(922	)	$	(1,038	)	$	—		$	1
Other comprehensive (loss) income:
Net change from periodic revaluations		(153	)		241			—			—
Tax benefit (expense)(2)		31			(38	)		—			—
Total Other comprehensive (loss) income before reclassifications, net of tax		(122	)		203			—			—
Net amount reclassified to earnings:
Aluminum contracts(3)		75			33			—			—
Financial contracts(4)		—			—			—			—
Interest rate contracts(5)		(1	)		(3	)		(1	)		—
Foreign exchange contracts(6)		—			(3	)		—			—
Sub-total		74			27			(1	)		—
Tax expense(2)		(14	)		(4	)		—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		60			23			(1	)		—
Total Other comprehensive (loss) income		(62	)		226			(1	)		—
Balance at end of period	$	(984	)	$	(812	)	$	(1	)	$	1

Total Accumulated other comprehensive loss	$	(3,737	)	$	(3,394	)	$	(1,063	)	$	(1,020	)


	Alcoa Corporation						Noncontrolling interest
	Six months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
Pension and other postretirement benefits (L)
Balance at beginning of period	$	—		$	62		$	(15	)	$	(5	)
Other comprehensive income (loss):
Unrecognized net actuarial gain/loss and prior service cost/benefit		14			(18	)		7			(2	)
Tax (expense) benefit(2)		(3	)		8			(2	)		—
Total Other comprehensive income (loss) before reclassifications, net of tax		11			(10	)		5			(2	)
Amortization of net actuarial gain/loss and prior service cost/benefit(1)		11			30			1			—
Tax expense(2)		—			(6	)		—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		11			24			1			—
Total Other comprehensive income (loss)		22			14			6			(2	)
Balance at end of period	$	22		$	76		$	(9	)	$	(7	)

Foreign currency translation
Balance at beginning of period	$	(2,593	)	$	(2,685	)	$	(983	)	$	(1,040	)
Other comprehensive (loss) income		(182	)		27			(70	)		26
Balance at end of period	$	(2,775	)	$	(2,658	)	$	(1,053	)	$	(1,014	)

Cash flow hedges (M)
Balance at beginning of period	$	(1,052	)	$	(916	)	$	—		$	1
Other comprehensive (loss) income:
Net change from periodic revaluations		(36	)		54			—			—
Total Other comprehensive (loss) income before reclassifications, net of tax		(36	)		54			—			—
Net amount reclassified to earnings:
Aluminum contracts(3)		132			94			—			—
Financial contracts(4)		—			(20	)		—			—
Interest rate contracts(5)		(1	)		(2	)		(1	)		—
Foreign exchange contracts(6)		(4	)		(8	)		—			—
Sub-total		127			64			(1	)		—
Tax expense(2)		(23	)		(14	)		—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		104			50			(1	)		—
Total Other comprehensive income (loss)		68			104			(1	)		—
Balance at end of period	$	(984	)	$	(812	)	$	(1	)	$	1

Total Accumulated other comprehensive loss	$	(3,737	)	$	(3,394	)	$	(1,063	)	$	(1,020	)

(1)

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

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

(6)

For the second quarter and six-month period of 2024, these amounts were reported in Sales (both periods) on the accompanying Statement of Consolidated Operations. 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.

(7)

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