XML 62 R50.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Accumulated Other Comprehensive Loss - Summary of Changes in Accumulated Other Comprehensive (Loss) Income by Component (Detail) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Pension and other postretirement benefits (L)          
Total Other comprehensive income (loss) $ (18) $ (8) $ (28) $ (12)  
Foreign currency translation          
Other comprehensive (loss) income (76) 36 (252) 53  
Cash flow hedges (M)          
Net change from periodic revaluations (153) 241 (36) 54  
Net amount reclassified to earnings 74 27 127 64  
Total Accumulated other comprehensive loss (3,737)   (3,737)   $ (3,645)
Alcoa Corporation [Member]          
Pension and other postretirement benefits (L)          
Balance at beginning of period 9 66   62  
Unrecognized net actuarial gain/loss and prior service cost/benefit 10 (18) 14 (18)  
Tax benefit (expense) (2) 8 (3) 8  
Total Other comprehensive income (loss) before reclassifications, net of tax 8 (10) 11 (10)  
Amortization of net actuarial gain/loss and prior service cost/benefit 5 26 11 30  
Tax benefit (expense)   (6)   (6)  
Total amount reclassified from Accumulated other comprehensive loss, net of tax 5 20 11 24  
Total Other comprehensive income (loss) 13 10 22 14  
Balance at end of period 22 76 22 76  
Foreign currency translation          
Balance at beginning of period (2,715) (2,683) (2,593) (2,685)  
Other comprehensive (loss) income (60) 25 (182) 27  
Balance at end of period (2,775) (2,658) (2,775) (2,658)  
Cash flow hedges (M)          
Balance at beginning of period (922) (1,038) (1,052) (916)  
Net change from periodic revaluations (153) 241 (36) 54  
Tax (expense) benefit 31 (38)      
Total Other comprehensive income (loss) before reclassifications, net of tax (122) 203 (36) 54  
Net amount reclassified to earnings 74 27 127 64  
Tax expense (14) (4) (23) (14)  
Total amount reclassified from Accumulated other comprehensive loss, net of tax 60 23 104 50  
Total Other comprehensive income (loss) (62) 226 68 104  
Balance at end of period (984) (812) (984) (812)  
Total Accumulated other comprehensive loss (3,737) (3,394) (3,737) (3,394)  
Alcoa Corporation [Member] | Aluminum Contracts [Member]          
Cash flow hedges (M)          
Net amount reclassified to earnings 75 33 132 94  
Alcoa Corporation [Member] | Financial Contracts [Member]          
Cash flow hedges (M)          
Net amount reclassified to earnings       (20)  
Alcoa Corporation [Member] | Interest Rate Contracts [Member]          
Cash flow hedges (M)          
Net amount reclassified to earnings (1) (3) (1) (2)  
Alcoa Corporation [Member] | Foreign Exchange Contract [Member]          
Cash flow hedges (M)          
Net amount reclassified to earnings   (3) (4) (8)  
Non-controlling Interest [Member]          
Pension and other postretirement benefits (L)          
Balance at beginning of period (14) (5) (15) (5)  
Unrecognized net actuarial gain/loss and prior service cost/benefit 7 (2) 7 (2)  
Tax benefit (expense) (2)   (2)    
Total Other comprehensive income (loss) before reclassifications, net of tax 5 (2) 5 (2)  
Amortization of net actuarial gain/loss and prior service cost/benefit     1    
Total amount reclassified from Accumulated other comprehensive loss, net of tax     1    
Total Other comprehensive income (loss) 5 (2) 6 (2)  
Balance at end of period (9) (7) (9) (7)  
Foreign currency translation          
Balance at beginning of period (1,037) (1,025) (983) (1,040)  
Other comprehensive (loss) income (16) 11 (70) 26  
Balance at end of period (1,053) (1,014) (1,053) (1,014)  
Cash flow hedges (M)          
Balance at beginning of period   1   1  
Net amount reclassified to earnings (1)   (1)    
Total amount reclassified from Accumulated other comprehensive loss, net of tax (1)   (1)    
Total Other comprehensive income (loss) (1)   (1)    
Balance at end of period (1) 1 (1) 1  
Total Accumulated other comprehensive loss (1,063) $ (1,020) (1,063) $ (1,020)  
Non-controlling Interest [Member] | Interest Rate Contracts [Member]          
Cash flow hedges (M)          
Net amount reclassified to earnings $ (1)   $ (1)