Other Financial Information

9 Months Ended

Sep. 30, 2022

Other Income And Expenses [Abstract]

Q. Other Financial Information

Other Expense (Income), Net

	Third quarter ended September 30,						Nine months ended September 30,
	2022			2021			2022			2021
Equity loss (income)	$	36		$	(30	)	$	(17	)	$	(61	)
Foreign currency loss (gain), net		9			(4	)		17			2
Net loss (gain) from asset sales		2			(8	)		7			(132	)
Net (gain) loss on mark-to-market derivative instruments		(8	)		9			(199	)		2
Non-service costs – Pension & OPEB		13			13			44			37
Other		(17	)		2			(37	)		5
	$	35		$	(18	)	$	(185	)	$	(147	)

Net loss (gain) from asset sales for the nine months ended September 30, 2021 included a net gain of $120 related to the sales of the former Eastalco site and the Warrick Rolling Mill (see Note C).

Other Noncurrent Assets

	September 30, 2022		December 31, 2021
Gas supply prepayment	$	310	$	377
Prepaid gas transmission contract		275		304
Value added tax credits		290		215
Deferred mining costs, net		147		149
Prepaid pension benefit		205		164
Goodwill		144		144
Noncurrent restricted cash		54		106
Noncurrent prepaid tax asset		69		78
Intangibles, net		30		35
Other		97		92
	$	1,621	$	1,664

Value added tax credits— In the fourth quarter of 2018, after an assessment of the future realizability of Brazil state VAT credits recorded, the Company established an allowance on the accumulated state VAT credit balances and stopped recording any future credit benefits. With the restart of the Alumar smelter in São Luís, Brazil and its first metal sales in June 2022, the Company now has the ability to monetize these credits. In June 2022, the Company reversed the allowance with a credit of $83 to Restructuring and other charges, net and reversed the subsequent additions to the valuation allowance with a credit of $46 to Cost of goods sold (same accounts as when incurred).

Cash and Cash Equivalents and Restricted Cash

	September 30, 2022		December 31, 2021
Cash and cash equivalents	$	1,432	$	1,814
Current restricted cash		55		4
Noncurrent restricted cash		54		106
	$	1,541	$	1,924

Current restricted cash amounts are reported in Prepaid expenses and other current assets on the accompanying Consolidated Balance Sheet. Noncurrent restricted cash amounts are reported in Other noncurrent assets on the accompanying Consolidated Balance Sheet.