Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

L. Goodwill and Other Intangible Assets

Goodwill, which is included in Other noncurrent assets on the accompanying Consolidated Balance Sheet, was as follows:

December 31,	2024		2023
Alumina	$	3	$	4
Aluminum		—		—
Corporate(1)		139		142
	$	142	$	146

(1)The carrying value of Corporate’s goodwill is net of accumulated impairment losses of $742 as of both December 31, 2024 and 2023. As of December 31, 2024, the $139 of goodwill reflected in Corporate is allocated to Alcoa Corporation's Alumina reportable segment for purposes of impairment testing (see Note B). This goodwill is reflected in Corporate for segment reporting purposes because it is not included in management’s assessment of performance by the reportable segment. Changes in the carrying amount of goodwill were attributable to foreign currency translation as of December 31, 2024 and 2023.

Management performed a quantitative assessment for the Alumina reporting unit in the fourth quarter 2024. The estimated fair value of the Alumina reporting unit was substantially in excess of its carrying value, resulting in no impairment.

Other intangible assets, which are included in Other noncurrent assets on the accompanying Consolidated Balance Sheet, were as follows:

	2024							2023
December 31,	Gross carrying amount		Accumulated amortization			Net carrying amount		Gross carrying amount		Accumulated amortization			Net carrying amount
Computer software	$	203	$	(190	)	$	13	$	207	$	(194	)	$	13
Patents and licenses		25		(11	)		14		25		(10	)		15
Other intangibles		20		(11	)		9		21		(12	)		9
Total other intangible assets	$	248	$	(212	)	$	36	$	253	$	(216	)	$	37

Computer software consists primarily of software costs associated with the enterprise business solution within Alcoa to drive common systems among all businesses.

Amortization expense related to the intangible assets in the table above for the years ended December 31, 2024, 2023, and 2022 was $5, $5, and $7, respectively, and is expected to be approximately $5 annually from 2025 to 2029.