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Consolidated Balance Sheet (unaudited) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Dec. 31, 2022
Current assets:      
Cash and cash equivalents (M) $ 1,396 $ 944  
Receivables from customers (I) 939 656  
Other receivables 135 152  
Inventories (J) 1,975 2,158  
Fair value of derivative instruments (M) 38 29  
Prepaid expenses and other current assets 420 466  
Total current assets 4,903 4,405  
Properties, plants, and equipment 19,999 20,381  
Less: accumulated depreciation, depletion, and amortization 13,496 13,596  
Properties, plants, and equipment, net 6,503 6,785  
Investments (H) 989 979  
Deferred income taxes 311 333  
Fair value of derivative instruments (M) 0 3  
Other noncurrent assets 1,601 1,650  
Total assets 14,307 14,155  
Current liabilities:      
Accounts payable, trade 1,619 1,714  
Accrued compensation and retirement costs 358 357  
Taxes, including income taxes 119 88  
Fair value of derivative instruments (M) 251 214  
Other current liabilities 740 578  
Long-term debt due within one year (K & M) 79 79  
Total current liabilities 3,166 3,030  
Long-term debt, less amount due within one year (K & M) 2,469 1,732  
Accrued pension benefits (L) 264 278  
Accrued other postretirement benefits (L) 427 443  
Asset retirement obligations 699 772  
Environmental remediation (O) 191 202  
Fair value of derivative instruments (M) 951 1,092  
Noncurrent income taxes 133 193  
Other noncurrent liabilities and deferred credits 591 568  
Total liabilities 8,891 8,310  
CONTINGENCIES AND COMMITMENTS (O)  
Alcoa Corporation shareholders’ equity:      
Common stock 2 2  
Additional capital 9,196 9,187  
Accumulated deficit (1,562) (1,293)  
Accumulated other comprehensive loss (G) (3,737) (3,645)  
Total Alcoa Corporation shareholders’ equity 3,899 4,251  
Noncontrolling interest 1,517 1,594  
Total equity 5,416 5,845 $ 6,589
Total liabilities and equity $ 14,307 $ 14,155