Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2019

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

G. Accumulated Other Comprehensive Loss

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
	2019			2018			2017			2019			2018			2017
Pension and other postretirement benefits (N)
Balance at beginning of period	$	(2,283	)	$	(2,786	)	$	(2,330	)	$	(46	)	$	(47	)	$	(56	)
Other comprehensive (loss) income:
Unrecognized net actuarial loss and prior service cost/benefit		(309	)		19			(671	)		(14	)		(3	)		9
Tax benefit (expense)		28			(8	)		25			—			—			(2	)
Total Other comprehensive (loss) income before reclassifications, net of tax		(281	)		11			(646	)		(14	)		(3	)		7
Amortization of net actuarial loss and prior service cost/benefit⁽¹⁾		299			546			199			5			4			2
Tax expense⁽²⁾		(17	)		(54	)		(9	)		(1	)		—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax⁽⁷⁾		282			492			190			4			4			2
Total Other comprehensive (loss) income		1			503			(456	)		(10	)		1			9
Balance at end of period	$	(2,282	)	$	(2,283	)	$	(2,786	)	$	(56	)	$	(46	)	$	(47	)

Foreign currency translation
Balance at beginning of period	$	(2,071	)	$	(1,467	)	$	(1,655	)	$	(810	)	$	(581	)	$	(677	)
Other comprehensive (loss) income⁽³⁾		(89	)		(604	)		188			(24	)		(229	)		96
Balance at end of period	$	(2,160	)	$	(2,071	)	$	(1,467	)	$	(834	)	$	(810	)	$	(581	)

Cash flow hedges (O)
Balance at beginning of period	$	(211	)	$	(929	)	$	210		$	31		$	51		$	1
Other comprehensive (loss) income:
Net change from periodic revaluations		(437	)		803			(1,489	)		20			(4	)		83
Tax benefit (expense)		83			(159	)		251			(6	)		1			(25	)
Total Other comprehensive (loss) income before reclassifications, net of tax		(354	)		644			(1,238	)		14			(3	)		58
Net amount reclassified to earnings:
Aluminum contracts⁽⁴⁾		44			108			130			—			—			—
Financial contracts⁽⁵⁾		(43	)		(37	)		(19	)		(35	)		(24	)		(12	)
Foreign exchange contracts⁽⁴⁾		18			6			(2	)		—			—			—
Interest rate contract⁽⁶⁾		4			—			—			—			—			—
Sub-total		23			77			109			(35	)		(24	)		(12	)
Tax benefit (expense)⁽²⁾		10			(3	)		(10	)		10			7			4
Total amount reclassified from Accumulated other comprehensive loss, net of tax⁽⁷⁾		33			74			99			(25	)		(17	)		(8	)
Total Other comprehensive (loss) income		(321	)		718			(1,139	)		(11	)		(20	)		50
Balance at end of period	$	(532	)	$	(211	)	$	(929	)	$	20		$	31		$	51

Total Accumulated other comprehensive loss	$	(4,974	)	$	(4,565	)	$	(5,182	)	$	(870	)	$	(825	)	$	(577	)

⁽¹⁾

These amounts were included in the computation of net periodic benefit cost for pension and other postretirement benefits. For 2019, the amounts for Alcoa Corporation include $116, and for Noncontrolling interest include $3 related to settlements and/or curtailments of certain pension and other postretirement benefits. For 2018, the amounts for Alcoa Corporation include $330, (net) and for Noncontrolling interest include $1 related to settlements and/or curtailments of certain pension and other postretirement benefits (see Note N).

⁽²⁾	These amounts were reported 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 reported in Sales on the accompanying Statement of Consolidated Operations.

⁽⁵⁾	These amounts were reported in Cost of goods sold on the accompanying Statement of Consolidated Operations.

⁽⁶⁾	These amounts were included in Other 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.