Segment Information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Information

E. Segment Information – The operating results of Alcoa Corporation’s reportable segments were as follows (differences between segment totals and consolidated amounts are in Corporate):

	Bauxite		Alumina			Aluminum			Total
Second quarter ended June 30, 2020
Sales:
Third-party sales	$	66	$	603		$	1,475		$	2,144
Intersegment sales		245		289			2			536
Total sales	$	311	$	892		$	1,477		$	2,680
Segment Adjusted EBITDA	$	131	$	88		$	(34	)	$	185
Supplemental information:
Depreciation, depletion, and amortization	$	30	$	37		$	79		$	146
Equity loss	$	—	$	(8	)	$	(12	)	$	(20	)
Second quarter ended June 30, 2019
Sales:
Third-party sales	$	67	$	864		$	1,757		$	2,688
Intersegment sales		246		445			4			695
Total sales	$	313	$	1,309		$	1,761		$	3,383
Segment Adjusted EBITDA	$	112	$	369		$	3		$	484
Supplemental information:
Depreciation, depletion, and amortization	$	27	$	55		$	85		$	167
Equity income (loss)	$	—	$	3		$	(17	)	$	(14	)

	Bauxite		Alumina			Aluminum			Total
Six months ended June 30, 2020
Sales:
Third-party sales	$	137	$	1,310		$	3,073		$	4,520
Intersegment sales		480		625			5			1,110
Total sales	$	617	$	1,935		$	3,078		$	5,630
Segment Adjusted EBITDA	$	251	$	281		$	28		$	560
Supplemental information:
Depreciation, depletion, and amortization	$	64	$	86		$	160		$	310
Equity loss		—		(17	)		(7	)		(24	)
Six months ended June 30, 2019
Sales:
Third-party sales	$	132	$	1,761		$	3,492		$	5,385
Intersegment sales		482		862			7			1,351
Total sales	$	614	$	2,623		$	3,499		$	6,736
Segment Adjusted EBITDA	$	238	$	741		$	(93	)	$	886
Supplemental information:
Depreciation, depletion, and amortization	$	55	$	103		$	174		$	332
Equity income (loss)		—		15			(39	)		(24	)

The following table reconciles total Segment Adjusted EBITDA to consolidated net loss attributable to Alcoa Corporation:

	Second quarter ended June 30,						Six months ended June 30,
	2020			2019			2020			2019
Total Segment Adjusted EBITDA	$	185		$	484		$	560		$	886
Unallocated amounts:
Transformation(1)		(10	)		3			(26	)		5
Intersegment eliminations		30			(1	)		22			85
Corporate expenses(2)		(21	)		(28	)		(48	)		(52	)
Provision for depreciation, depletion, and    amortization		(152	)		(174	)		(322	)		(346	)
Restructuring and other charges, net (D)		(37	)		(370	)		(39	)		(483	)
Interest expense		(32	)		(30	)		(62	)		(60	)
Other (expenses) income, net (Q)		(51	)		(50	)		81			(91	)
Other(3)		(17	)		(11	)		(52	)		(29	)
Consolidated (loss) income before income taxes		(105	)		(177	)		114			(85	)
Provision for income taxes		(45	)		(116	)		(125	)		(266	)
Net income attributable to noncontrolling interest		(47	)		(109	)		(106	)		(250	)
Consolidated net loss attributable to    Alcoa Corporation	$	(197	)	$	(402	)	$	(117	)	$	(601	)

⁽¹⁾  Transformation includes, among other items, the Adjusted EBITDA of previously closed operations.

⁽²⁾  Corporate expenses are composed of general administrative and other expenses of operating the corporate headquarters and other global administrative facilities, as well as research and development expenses of the corporate technical center.

⁽³⁾  Other includes certain items that impact Cost of goods sold and Selling, general administrative, and other expenses on Alcoa Corporation’s Statement of Consolidated Operations that are not included in the Adjusted EBITDA of the reportable segments.

The following table details Alcoa Corporation’s Sales by product division:

	Second quarter ended June 30,						Six months ended June 30,
	2020			2019			2020			2019
Primary aluminum	$	1,202		$	1,382		$	2,499		$	2,776
Alumina		600			862			1,307			1,759
Flat-rolled aluminum		271			327			543			639
Bauxite		61			63			120			121
Energy		22			85			74			154
Other		(8	)		(8	)		(14	)		(19	)
	$	2,148		$	2,711		$	4,529		$	5,430

Other primarily includes realized gains and losses related to embedded derivative instruments designated as cash flow hedges of forward sales of aluminum.