Other Financial Information (Tables)

6 Months Ended

Jun. 30, 2025

Other Financial Information [Abstract]

Schedule of Other (Income) Expenses, Net

Other (Income) Expenses, Net

	Second quarter ended June 30,						Six months ended June 30,
	2025			2024			2025			2024
Equity loss (gain)	$	22		$	(22	)	$	28		$	5
Foreign currency losses (gains), net		3			57			(14	)		81
Net loss from asset sales		2			6			5			17
Gain from sale of investments		(3	)		—			(3	)		—
Net gain on mark-to-market derivative instruments		(110	)		(54	)		(117	)		(49	)
Non-service costs – pension and other postretirement benefits		7			4			13			8
Other, net		(33	)		(13	)		(50	)		(25	)
	$	(112	)	$	(22	)	$	(138	)	$	37

In the second quarter and six-month period of 2025, Other, net was primarily comprised of interest income on interest bearing accounts and the deposit related to the Australia tax matter (see Note O).

In the second quarter and six-month period of 2024, Other, net was primarily comprised of interest income on interest bearing accounts.

Schedule of Other Noncurrent Assets

Other Noncurrent Assets

	June 30, 2025		December 31, 2024
Prepaid gas transmission contract	$	296	$	278
Gas supply prepayment		219		225
Deferred mining costs, net		215		184
Value added tax credits		208		213
Goodwill		144		142
Prepaid pension benefit		138		128
IRA Section 45X credit		101		71
Noncurrent restricted cash		68		53
Intangibles, net		34		36
Noncurrent prepaid tax asset		—		66
Other		105		101
	$	1,528	$	1,497

Schedule of Cash and Cash Equivalents and Restricted Cash

Cash and Cash Equivalents and Restricted Cash

	June 30, 2025		December 31, 2024
Cash and cash equivalents	$	1,514	$	1,138
Current restricted cash		20		43
Noncurrent restricted cash		68		53
	$	1,602	$	1,234

Restricted cash primarily relates to commitments included in the viability agreement reached with the workers’ representatives of the San Ciprián smelter in December 2021, and subsequently updated in February 2023. $11 was released from restricted cash in the first quarter of 2025, related to smelter restart and capital expenditures incurred in the fourth quarter of 2024 and first quarter of 2025. At June 30, 2025, the Company had restricted cash of $75 available for capital improvements at the site and smelter restart costs.