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Statement of Consolidated Cash Flows (unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FROM OPERATIONS    
Net loss $ (178) $ (546)
Adjustments to reconcile net loss to cash from operations:    
Depreciation, depletion, and amortization 483 469
Deferred income taxes (8) (156)
Equity loss, net of dividends 2 161
Restructuring and other charges, net (D) 250 195
Net loss from investing activities - asset sales (P) 18 18
Net periodic pension benefit cost (L) 8 4
Stock-based compensation 31 27
Loss on mark-to-market derivative financial contracts 16 31
Other 33 67
Changes in assets and liabilities, excluding effects of divestitures and foreign currency translation adjustments:    
(Increase) decrease in receivables (202) 108
Decrease in inventories 79 166
(Increase) decrease in prepaid expenses and other current assets (12) 53
Decrease in accounts payable, trade (149) (275)
Decrease in accrued expenses (88) (119)
Increase (decrease) in taxes, including income taxes 55 (52)
Pension contributions (L) (14) (20)
Increase in noncurrent assets (4) (179)
Decrease in noncurrent liabilities (113) (59)
CASH PROVIDED FROM (USED FOR) OPERATIONS 207 (107)
FINANCING ACTIVITIES    
Additions to debt 989 80
Payments on debt (285) (39)
Proceeds from the exercise of employee stock options 0 1
Dividends paid on Alcoa preferred stock 0 0
Dividends paid on Alcoa common stock (63) (54)
Payments related to tax withholding on stock-based compensation awards (15) (34)
Financial contributions for the divestiture of businesses (C) (19) (44)
Contributions from noncontrolling interest 65 164
Distributions to noncontrolling interest (49) (24)
Acquisition of noncontrolling interest (C) (23) 0
Other (5) 1
CASH PROVIDED FROM FINANCING ACTIVITIES 595 51
INVESTING ACTIVITIES    
Capital expenditures (411) (343)
Proceeds from the sale of assets 2 2
Additions to investments (30) (51)
Other 5 4
CASH USED FOR INVESTING ACTIVITIES (434) (388)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (5) 0
Net change in cash and cash equivalents and restricted cash 363 (444)
Cash and cash equivalents and restricted cash at beginning of year 1,047 1,474
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 1,410 $ 1,030