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Accumulated Other Comprehensive Loss (Tables)
12 Months Ended
Dec. 31, 2017
Equity [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  
      2017     2016     2015       2017        2016        2015    

Pension and other postretirement benefits (N)

            

Balance at beginning of period

   $ (2,330   $ (352   $ (424   $ (56   $ (56   $ (64

Establishment of additional defined benefit plans

     -       (2,704     -       -       -       -  

Separation-related adjustments (A)

     -       928       -       -       -       -  

Other comprehensive (loss) income:

            

Unrecognized net actuarial loss and prior service cost/benefit

     (671     (307     73       9       2       5  

Tax benefit (expense)

     25       6       (18     (2     (6     (1

Total Other comprehensive (loss) income before reclassifications, net of tax

     (646     (301     55       7       (4     4  

Amortization of net actuarial loss and prior service cost/benefit(1)

     199       107       26       2       5       6  

Tax expense(2)

     (9     (8     (9     -       (1     (2

Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)

     190       99       17       2       4       4  

Total Other comprehensive (loss) income

     (456     (202     72       9       -       8  

Balance at end of period

   $ (2,786   $ (2,330   $ (352   $ (47   $ (56   $ (56

Foreign currency translation

            

Balance at beginning of period

   $ (1,655   $ (1,851   $ (668   $ (677   $ (779   $ (351

Separation-related adjustments (A)

     -       (17     -       -       -       -  

Other comprehensive income (loss)(3)

     188       213       (1,183     96       102       (428

Balance at end of period

   $ (1,467   $ (1,655   $ (1,851   $ (581   $ (677   $ (779

Cash flow hedges (O)

            

Balance at beginning of period

   $ 210     $ 603     $ (224   $ 1     $ (3   $ (2

Separation-related adjustments (A)

     -       (47     -       -       -       -  

Other comprehensive (loss) income:

            

Net change from periodic revaluations

     (1,489     (558     1,155       83       38       (1

Tax benefit (expense)

     251       233       (344     (25     (12     -  

Total Other comprehensive (loss) income before reclassifications, net of tax

     (1,238     (325     811       58       26       (1

Net amount reclassified to earnings:

            

Aluminum contracts(4)

     130       7       21       -       -       -  

Financial contract(5)

     (19     (54     -       (12     (37     -  

Foreign exchange contracts(4)

     (2     -       -       -       -       -  

Interest rate contract(6)

     -       7       -       -       5       -  

Sub-total

     109       (40     21       (12     (32     -  

Tax (expense) benefit(2)

     (10     19       (5     4       10       -  

Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)

     99       (21     16       (8     (22     -  

Total Other comprehensive (loss) income

     (1,139     (346     827       50       4       (1

Balance at end of period

   $ (929   $ 210     $ 603     $ 51     $ 1     $ (3
(1) 

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

(2) 

These amounts were included in Provision for income taxes on the accompanying Statement of Consolidated Operations.

(3) 

In all periods presented, there were no tax impacts related to rate changes and no amounts were reclassified to earnings.

(4) 

These amounts were included in Sales on the accompanying Statement of Consolidated Operations.

(5) 

The 2017 amounts were included in Cost of goods sold on the accompanying Statement of Consolidated Operations. The 2016 and 2015 amounts were included in Other (income) expenses, net on the accompanying Statement of Consolidated Operations.

(6) 

These amounts were included in Other (income) expenses, net 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. These amounts were reflected on the accompanying Statement of Consolidated Operations in the line items indicated in footnotes 1 through 6.