Accumulated Other Comprehensive (Loss) Income

6 Months Ended

Jun. 30, 2025

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

Accumulated Other Comprehensive (Loss) Income

G. Accumulated Other Comprehensive (Loss) Income

The following table details the activity of the three components that comprise Accumulated other comprehensive (loss) income for Alcoa Corporation’s shareholders and Noncontrolling interest:

	Alcoa Corporation						Noncontrolling interest
	Second quarter ended June 30,						Second quarter ended June 30,
	2025			2024			2025		2024
Pension and other postretirement benefits (L)
Balance at beginning of period	$	(6	)	$	9		$	—	$	(14	)
Other comprehensive income:
Unrecognized net actuarial gain/loss and    prior service cost/benefit		1			10			—		7
Tax benefit (expense)(2)		3			(2	)		—		(2	)
Total Other comprehensive income    before reclassifications, net of tax		4			8			—		5
Amortization of net actuarial gain/loss and    prior service cost/benefit(1)		7			5			—		—
Total amount reclassified from Accumulated    other comprehensive loss, net of tax(6)		7			5			—		—
Total Other comprehensive income		11			13			—		5
Balance at end of period	$	5		$	22		$	—	$	(9	)
Foreign currency translation
Balance at beginning of period	$	(4,040	)	$	(2,715	)	$	—	$	(1,037	)
Other comprehensive income (loss)		207			(60	)		10		(16	)
Balance at end of period	$	(3,833	)	$	(2,775	)	$	10	$	(1,053	)
Cash flow hedges (M)
Balance at beginning of period	$	(889	)	$	(922	)	$	—	$	—
Other comprehensive loss:
Net change from periodic revaluations		(128	)		(153	)		—		—
Tax benefit(2)		18			31			—		—
Total Other comprehensive loss    before reclassifications, net of tax		(110	)		(122	)		—		—
Net amount reclassified to earnings:
Aluminum contracts(3)		78			75			—		—
Financial contracts(4)		2			—			—		—
Interest rate contracts(5)		—			(1	)		—		(1	)
Sub-total		80			74			—		(1	)
Tax expense(2)		(17	)		(14	)		—		—
Total amount reclassified from Accumulated    other comprehensive loss, net of tax(6)		63			60			—		(1	)
Total Other comprehensive loss		(47	)		(62	)		—		(1	)
Balance at end of period	$	(936	)	$	(984	)	$	—	$	(1	)
Total Accumulated other comprehensive (loss) income	$	(4,764	)	$	(3,737	)	$	10	$	(1,063	)

	Alcoa Corporation						Noncontrolling interest
	Six months ended June 30,						Six months ended June 30,
	2025			2024			2025		2024
Pension and other postretirement benefits (L)
Balance at beginning of period	$	(11	)	$	—		$	—	$	(15	)
Other comprehensive income:
Unrecognized net actuarial gain/loss and    prior service cost/benefit		—			14			—		7
Tax benefit (expense)(2)		2			(3	)		—		(2	)
Total Other comprehensive income    before reclassifications, net of tax		2			11			—		5
Amortization of net actuarial gain/loss and    prior service cost/benefit(1)		14			11			—		1
Total amount reclassified from Accumulated    other comprehensive loss, net of tax(6)		14			11			—		1
Total Other comprehensive income		16			22			—		6
Balance at end of period	$	5		$	22		$	—	$	(9	)
Foreign currency translation
Balance at beginning of period	$	(4,194	)	$	(2,593	)	$	—	$	(983	)
Other comprehensive income (loss)		392			(182	)		10		(70	)
Joint venture formation (C)		(31	)		—			—		—
Balance at end of period	$	(3,833	)	$	(2,775	)	$	10	$	(1,053	)
Cash flow hedges (M)
Balance at beginning of period	$	(905	)	$	(1,052	)	$	—	$	—
Other comprehensive (loss) income:
Net change from periodic revaluations		(213	)		(36	)		—		—
Tax benefit(2)		41			—			—		—
Total Other comprehensive loss    before reclassifications, net of tax		(172	)		(36	)		—		—
Net amount reclassified to earnings:
Aluminum contracts(3)		171			132			—		—
Financial contracts(4)		2			—			—		—
Interest rate contracts(5)		—			(1	)		—		(1	)
Foreign exchange contracts(3)		2			(4	)		—		—
Sub-total		175			127			—		(1	)
Tax expense(2)		(34	)		(23	)		—		—
Total amount reclassified from Accumulated    other comprehensive loss, net of tax(6)		141			104			—		(1	)
Total Other comprehensive (loss) income		(31	)		68			—		(1	)
Balance at end of period	$	(936	)	$	(984	)	$	—	$	(1	)
Total Accumulated other comprehensive (loss) income	$	(4,764	)	$	(3,737	)	$	10	$	(1,063	)

(1)These amounts were included in the computation of net periodic benefit cost for pension and other postretirement benefits (see Note L).

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

(6)A positive amount indicates a corresponding charge to earnings and a negative amount indicates a corresponding benefit to earnings.