Equity Investments (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2016

Dec. 31, 2015

Equity Method Investments and Joint Ventures [Abstract]

Summary of Balance Sheet Financial Information for Alcoa Corporation's Equity Investments


(in millions)	2015		2014			2013
Income data—year ended December 31
Sales	$	4,119	$	3,350		$	2,394
Cost of goods sold		3,209		2,503			1,679
Income (loss) before income taxes		125		(76	)		75
Net income (loss)		43		(144	)		(19	)
Balance Sheet—as of December 31
Current assets	$	1,555	$	1,472
Noncurrent assets		13,357		14,246
Current liabilities		1,661		1,793
Noncurrent liabilities		8,972		8,829

Summary of Financial Information for Alcoa Corporation's Equity Investments

G. Investments—A summary of unaudited financial information for Alcoa Corporation’s equity investments is as follows (amounts represent 100% of investee financial information):


	Third quarter ended September 30,					Nine months ended September 30,
	2016			2015		2016		2015
Sales	$	888		$	1,015	$	2,684	$	2,872
Cost of goods sold		840			796		2,200		2,353
Net (loss) income		(6	)		20		23		(66	)

Financial information for equity method investees that were significant to Alcoa Corporation’s results for the years ended December 31 are as follows:


(Dollars in millions)	Energetica Barra Grande SA			Halco Mining			Ma’aden Rolling Co.			Ma’aden Smelting Co.			Ma’aden Bauxite and Alumina Co.			Manicouagan Power L.P.			Pechiney Reynolds Quebec			Others			Total
Income data—year ended December 31, 2015
Sales		130			487			286			1,481			258			106			486			885			4,119
Cost of goods sold		98			236			352			1,317			401			16			288			501			3,209
Income before income taxes		27			86			(125	)		(52	)		(185	)		91			113			170			125
Net income		7			80			(125	)		(56	)		(185	)		90			104			128			43
Alcoa Corporation’s percentage of ownership in equity investees		42.2	%		45.0	%		25.1	%		25.1	%		25.1	%		40.0	%		49.8	%
Equity in net income of affiliated companies, before reconciling adjustments		3			36			(31	)		(14	)		(46	)		36			52			24			60
Other		(1	)		(2	)		(1	)		(1	)		—			—			4			(6	)		(7	)
Alcoa Corporation’s equity in net income of affiliated companies		2			34			(32	)		(15	)		(46	)		36			56			18			53
Balance Sheet—as of December 31, 2015
Current assets		27			40			389			469			305			23			107			195			1,555
Noncurrent assets		288			165			1,659			4,696			3,005			62			109			3,373			13,357
Current liabilities		50			28			254			909			122			6			54			238			1,661
Noncurrent liabilities		43			16			1,329			2,913			2,206			—			(21	)		2,486			8,972
Income data—year ended December 31, 2014
Sales		170			487			42			1,260			3			120			318			950			3,350
Cost of goods sold		118			260			102			1,073			4			18			280			648			2,503
Income before income taxes		44			76			(109	)		(149	)		(135	)		103			39			55			(76	)
Net income		19			72			(109	)		(149	)		(135	)		102			28			28			(144	)
Alcoa Corporation’s percentage of ownership in equity investees		42.2	%		45.0	%		25.1	%		25.1	%		25.1	%		40.0	%		49.8	%
Equity in net income of affiliated companies, before reconciling adjustments		8			32			(27	)		(37	)		(34	)		41			14			3			—
Other		—			(1	)		—			—			—			(1	)		4			—			2
Alcoa Corporation’s equity in net income of affiliated companies		8			31			(27	)		(37	)		(34	)		40			18			3			2
Balance Sheet—as of December 31, 2014
Current assets		27			38			186			405			182			22			439			173			1,472
Noncurrent assets		427			150			1,619			4,841			2,951			72			107			4,079			14,246
Current liabilities		50			29			59			683			121			7			50			794			1,793
Noncurrent liabilities		92			12			1,191			3,164			1,849			1			16			2,504			8,829
Income data—year ended December 31, 2013
Sales		130			493			—			349			—			124			326			972			2,394
Cost of goods sold		78			250			—			479			—			19			288			565			1,679
Income before income taxes		42			81			(51	)		(215	)		(48	)		105			37			124			75
Net income		14			76			(51	)		(215	)		(48	)		105			26			74			(19	)
Alcoa Corporation’s percentage of ownership in equity investees		42.2	%		45.0	%		25.1	%		25.1	%		25.1	%		40.0	%		49.8	%
Equity in net income of affiliated companies, before reconciling adjustments		6			34			(13	)		(54	)		(12	)		42			13			16			32
Other		(1	)		(1	)		—			—			—			—			6			(12	)		(8	)
Alcoa Corporation’s equity in net income of affiliated companies		5			33			(13	)		(54	)		(12	)		42			19			4			24

Schedule of Equity Method Investment

Investees accounted for using the equity method include:


Investee	Country	Ownership Interest¹
Consorcio Serra Do Facao	Brazil		35.0	%
DBNGP Trust	Australia		20.0	%²
Energetica Barra Grande SA	Brazil		42.2	%
Halco Mining	Guinea		45.0	%²
Ma’aden Rolling Company	Saudi Arabia		25.1	%
Ma’aden Smelting Company	Saudi Arabia		25.1	%
Ma’aden Bauxite and Alumina Company	Saudi Arabia		25.1	%²
Manicouagan Power Limited Partnership	Canada		40.0	%
Mineracão Rio Do Norte S.A. (MRN)	Brazil		18.2	%
Pechiney Reynolds Quebec	Canada		49.8	%

1	This table shows the ownership of Alcoa Corporation or AWAC, as appropriate. Ownership percentages have not changed from January 2013 through December 2015.

2	This investment is part of the AWAC group of companies that are owned 60% by Alcoa Corporation and 40% by Alumina Limited