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Statement of Consolidated Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash from Operations      
Net income (loss) $ 24 $ (773) $ 38
Adjustments to reconcile net income (loss) to cash from operations:      
Depreciation, depletion, and amortization 642 632 617
Deferred income taxes (Q) 23 (22) 219
Equity (income) loss, net of dividends (H) (2) 201 4
Restructuring and other charges, net (D) 341 184 696
Net loss from investing activities - asset sales (U) 37 18 10
Net periodic pension benefit cost (O) 10 6 54
Stock-based compensation (N) 36 35 40
(Gain) loss on mark-to-market derivative financial contracts (8) 26 (44)
Other 34 78 53
Changes in assets and liabilities, excluding effects of divestitures and foreign currency translation adjustments:      
(Increase) decrease in receivables (493) 104 (59)
Decrease (increase) in inventories (J) 51 243 (547)
(Increase) decrease in prepaid expenses and other current assets (68) 39 44
Increase (decrease) in accounts payable, trade 190 (74) 189
Decrease in accrued expenses (108) (133) (173)
Increase (decrease) in taxes, including income taxes 95 (146) (152)
Pension contributions (O) (16) (24) (17)
Increase in noncurrent assets (4) (210) (87)
Decrease in noncurrent liabilities (162) (93) (63)
Cash provided from operations 622 91 822
Financing Activities      
Additions to debt (M) 1,032 127 4
Payments on debt (M) (679) (72) (1)
Proceeds from the exercise of employee stock options (N) 0 1 22
Repurchase of common stock (N) 0 0 (500)
Dividends paid on Alcoa preferred stock (N) (1) 0 0
Dividends paid on Alcoa common stock (N) (89) (72) (72)
Payments related to tax withholding on stock-based compensation awards (15) (34) (19)
Financial contributions for the divestiture of businesses (C) (35) (52) (33)
Contributions from noncontrolling interest (A) 65 188 214
Distributions to noncontrolling interest (A) (49) (30) (379)
Acquisition of noncontrolling interest (C) (23) 0 0
Other (5) 1 (4)
Cash provided from (used for) financing activities 201 57 (768)
Investing Activities      
Capital expenditures (580) (531) (480)
Proceeds from the sale of assets and businesses (C) 3 4 5
Additions to investments (H) (37) (70) (32)
Sale of investments (H) 0 0 10
Other 6 12 2
Cash used for investing activities (608) (585) (495)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (28) 10 (9)
Net change in cash and cash equivalents and restricted cash 187 (427) (450)
Cash and cash equivalents and restricted cash at beginning of year 1,047 1,474 1,924
Cash and cash equivalents and restricted cash at end of year $ 1,234 $ 1,047 $ 1,474