Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2022

Accumulated Other Comprehensive Income Loss Net Of Tax [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
	Third quarter ended September 30,						Third quarter ended September 30,
	2022			2021			2022			2021
Pension and other postretirement benefits (K)
Balance at beginning of period	$	(808	)	$	(2,152	)	$	(12	)	$	(63	)
Other comprehensive income (loss):
Unrecognized net actuarial loss and prior service    cost/benefit		17			26			8			14
Tax expense(2)		(7	)		(9	)		(3	)		(4	)
Total Other comprehensive income    before reclassifications, net of tax		10			17			5			10
Amortization of net actuarial loss and prior    service cost/benefit(1)		645			56			1			2
Tax benefit (expense)(2)		1			(1	)		—			—
Total amount reclassified from Accumulated    other comprehensive loss, net of tax(6)		646			55			1			2
Total Other comprehensive income		656			72			6			12
Balance at end of period	$	(152	)	$	(2,080	)	$	(6	)	$	(51	)
Foreign currency translation
Balance at beginning of period	$	(2,658	)	$	(2,357	)	$	(971	)	$	(853	)
Other comprehensive loss		(173	)		(202	)		(81	)		(78	)
Balance at end of period	$	(2,831	)	$	(2,559	)	$	(1,052	)	$	(931	)
Cash flow hedges (L)
Balance at beginning of period	$	(789	)	$	(1,178	)	$	1		$	1
Other comprehensive income (loss):
Net change from periodic revaluations		110			(222	)		—			(1	)
Tax (expense) benefit(2)		(6	)		38			—			1
Total Other comprehensive income (loss)    before reclassifications, net of tax		104			(184	)		—			—
Net amount reclassified to earnings:
Aluminum contracts(3)		35			82			—			—
Financial contracts(4)		—			(3	)		—			(3	)
Interest rate contracts(5)		2			3			—			—
Foreign exchange contracts(3)		—			—			—			—
Sub-total		37			82			—			(3	)
Tax (expense) benefit(2)		(13	)		(9	)		—			1
Total amount reclassified from    Accumulated other comprehensive    loss, net of tax(6)		24			73			—			(2	)
Total Other comprehensive income (loss)		128			(111	)		—			(2	)
Balance at end of period	$	(661	)	$	(1,289	)	$	1		$	(1	)
Total Accumulated other comprehensive loss	$	(3,644	)	$	(5,928	)	$	(1,057	)	$	(983	)

	Alcoa Corporation						Noncontrolling interest
	Nine months ended September 30,						Nine months ended September 30,
	2022			2021			2022			2021
Pension and other postretirement benefits (K)
Balance at beginning of period	$	(882	)	$	(2,536	)	$	(13	)	$	(67	)
Other comprehensive income (loss):
Unrecognized net actuarial loss and prior service    cost/benefit		40			259			9			16
Tax expense(2)		(12	)		(7	)		(3	)		(4	)
Total Other comprehensive income    before reclassifications, net of tax		28			252			6			12
Amortization of net actuarial loss and prior    service cost/benefit(1)		702			206			1			4
Tax expense(2)		—			(2	)		—			—
Total amount reclassified from Accumulated    other comprehensive loss, net of tax(6)		702			204			1			4
Total Other comprehensive income		730			456			7			16
Balance at end of period	$	(152	)	$	(2,080	)	$	(6	)	$	(51	)
Foreign currency translation
Balance at beginning of period	$	(2,614	)	$	(2,385	)	$	(937	)	$	(844	)
Other comprehensive loss		(217	)		(174	)		(115	)		(87	)
Balance at end of period	$	(2,831	)	$	(2,559	)	$	(1,052	)	$	(931	)
Cash flow hedges (L)
Balance at beginning of period	$	(1,096	)	$	(708	)	$	(1	)	$	(1	)
Other comprehensive (loss) income:
Net change from periodic revaluations		231			(922	)		2			(2	)
Tax (expense) benefit(2)		(17	)		169			—			1
Total Other comprehensive income (loss)    before reclassifications, net of tax		214			(753	)		2			(1	)
Net amount reclassified to earnings:
Aluminum contracts(3)		277			195			—			—
Financial contracts(4)		—			2			—			1
Interest rate contracts(5)		6			7			—			—
Foreign exchange contracts(3)		(3	)		(3	)		—			—
Sub-total		280			201			—			1
Tax expense(2)		(59	)		(29	)		—			—
Total amount reclassified from    Accumulated other comprehensive    loss, net of tax(6)		221			172			—			1
Total Other comprehensive income (loss)		435			(581	)		2			—
Balance at end of period	$	(661	)	$	(1,289	)	$	1		$	(1	)
Total Accumulated other comprehensive loss	$	(3,644	)	$	(5,928	)	$	(1,057	)	$	(983	)

⁽¹⁾  These amounts were included in the computation of net periodic benefit cost for pension and other postretirement benefits (see Note K).

⁽²⁾  These amounts were reported in Provision for income taxes on the accompanying Statement of Consolidated Operations.

⁽³⁾  These amounts were primarily reported in Sales on the accompanying Statement of Consolidated Operations.

⁽⁴⁾  These amounts were reported in Cost of goods sold on the accompanying Statement of Consolidated Operations.

⁽⁵⁾  These amounts were reported in Other income, net of the accompanying Statement of Consolidated Operations.

⁽⁶⁾  A positive amount indicates a corresponding charge to earnings and a negative amount indicates a corresponding benefit to earnings.