Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2024

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Summary of Changes in Accumulated Other Comprehensive (Loss) Income by Component

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
	2024			2023			2022			2024			2023			2022
Pension and other postretirement benefits (O)
Balance at beginning of period	$	—		$	62		$	(882	)	$	(15	)	$	(5	)	$	(13	)
Other comprehensive (loss) income:
Unrecognized net actuarial gain/loss and prior    service cost/benefit		(17	)		(112	)		263			5			(13	)		7
Tax (expense) benefit(2)		(4	)		17			(42	)		(2	)		2			—
Total Other comprehensive (loss) income    before reclassifications, net of tax		(21	)		(95	)		221			3			(11	)		7
Amortization of net actuarial gain/loss and prior    service cost/benefit(1)		21			39			723			1			1			1
Tax expense(2)		—			(6	)		—			—			—			—
Total amount reclassified from Accumulated    other comprehensive loss, net of tax(7)		21			33			723			1			1			1
Total Other comprehensive (loss) income		—			(62	)		944			4			(10	)		8
Acquisition of noncontrolling interest (C)		(11	)		—			—			11			—			—
Balance at end of period	$	(11	)	$	—		$	62		$	—		$	(15	)	$	(5	)
Foreign currency translation
Balance at beginning of period	$	(2,593	)	$	(2,685	)	$	(2,614	)	$	(983	)	$	(1,040	)	$	(937	)
Other comprehensive (loss) income		(513	)		92			(71	)		(105	)		57			(103	)
Acquisition of noncontrolling interest (C)		(1,088	)		—			—			1,088			—			—
Balance at end of period	$	(4,194	)	$	(2,593	)	$	(2,685	)	$	—		$	(983	)	$	(1,040	)
Cash flow hedges (P)
Balance at beginning of period	$	(1,052	)	$	(916	)	$	(1,096	)	$	—		$	1		$	(1	)
Other comprehensive (loss) income:
Net change from periodic revaluations		(93	)		(295	)		(119	)		—			—			2
Tax benefit(2)		7			70			43			—			—			—
Total Other comprehensive (loss) income    before reclassifications, net of tax		(86	)		(225	)		(76	)		—			—			2
Net amount reclassified to earnings:
Aluminum contracts(3)		290			181			316			—			—			—
Financial contracts(4)		—			(20	)		—			—			—			—
Interest rate contracts(5)		(1	)		(5	)		5			—			(1	)		—
Foreign exchange contracts(6)		(1	)		(26	)		(5	)		—			—			—
Sub-total		288			130			316			—			(1	)		—
Tax expense(2)		(55	)		(41	)		(60	)		—			—			—
Total amount reclassified    from Accumulated other    comprehensive loss, net of tax(7)		233			89			256			—			(1	)		—
Total Other comprehensive income (loss)		147			(136	)		180			—			(1	)		2
Balance at end of period	$	(905	)	$	(1,052	)	$	(916	)	$	—		$	—		$	1
Total Accumulated other comprehensive loss	$	(5,110	)	$	(3,645	)	$	(3,539	)	$	—		$	(998	)	$	(1,044	)

(1)These amounts were included in the computation of net periodic benefit cost for pension and other postretirement benefits. The amounts related to settlements and/or curtailments of certain pension and other postretirement benefits for Alcoa Corporation include ($1), $21, and $633 for the years ended December 31, 2024, 2023, and 2022, respectively (see Note O). The amounts related to settlements and/or curtailments of certain pension and other postretirement benefits for Noncontrolling interest were immaterial for the years ended December 31, 2024, 2023, and 2022.

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

(6)In 2024, $1 was reported in Cost of goods sold and ($2) was reported in Sales on the accompanying Statement of Consolidated Operations. In 2023, $5 was reported in Cost of goods sold and ($31) was reported in Sales on the accompanying Statement of Consolidated Operations. In 2022, $5 was reported in Cost of goods sold and ($10) was reported in Sales 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.