Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 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
	2022			2021			2020			2022			2021			2020
Pension and other postretirement benefits (O)
Balance at beginning of period	$	(882	)	$	(2,536	)	$	(2,282	)	$	(13	)	$	(67	)	$	(56	)
Other comprehensive income (loss):
Unrecognized net actuarial gain (loss) and prior    service cost/benefit		263			550			(545	)		7			30			(19	)
Tax (expense) benefit		(42	)		(37	)		31			—			(6	)		3
Total Other comprehensive income    (loss) before reclassifications,    net of tax		221			513			(514	)		7			24			(16	)
Amortization of net actuarial loss and prior    service cost/benefit(1)		723			1,144			269			1			30			6
Tax expense(2)		—			(3	)		(9	)		—			—			(1	)
Total amount reclassified from    Accumulated other comprehensive    loss, net of tax(6)		723			1,141			260			1			30			5
Total Other comprehensive income (loss)		944			1,654			(254	)		8			54			(11	)
Balance at end of period	$	62		$	(882	)	$	(2,536	)	$	(5	)	$	(13	)	$	(67	)
Foreign currency translation
Balance at beginning of period	$	(2,614	)	$	(2,385	)	$	(2,160	)	$	(937	)	$	(844	)	$	(834	)
Other comprehensive loss		(71	)		(229	)		(225	)		(103	)		(93	)		(10	)
Balance at end of period	$	(2,685	)	$	(2,614	)	$	(2,385	)	$	(1,040	)	$	(937	)	$	(844	)
Cash flow hedges (P)
Balance at beginning of period	$	(1,096	)	$	(708	)	$	(532	)	$	(1	)	$	(1	)	$	20
Other comprehensive loss:
Net change from periodic revaluations		(119	)		(782	)		(345	)		2			(2	)		(36	)
Tax benefit		43			140			74			—			1			10
Total Other comprehensive (loss)    income before reclassifications, net    of tax		(76	)		(642	)		(271	)		2			(1	)		(26	)
Net amount reclassified to earnings:
Aluminum contracts(3)		316			288			66			—			—			—
Financial contracts(4)		—			2			15			—			1			6
Foreign exchange contracts(3)		(5	)		(3	)		20			—			—			—
Interest rate contracts(5)		5			8			5			—			1			—
Sub-total		316			295			106			—			2			6
Tax expense(2)		(60	)		(41	)		(11	)		—			(1	)		(1	)
Total amount reclassified    from Accumulated other    comprehensive loss, net of    tax(6)		256			254			95			—			1			5
Total Other comprehensive income (loss)		180			(388	)		(176	)		2			—			(21	)
Balance at end of period	$	(916	)	$	(1,096	)	$	(708	)	$	1		$	(1	)	$	(1	)
Total Accumulated other comprehensive loss	$	(3,539	)	$	(4,592	)	$	(5,629	)	$	(1,044	)	$	(951	)	$	(912	)

⁽¹⁾ These amounts were included in the computation of net periodic benefit cost for pension and other postretirement benefits. The amounts related to settlements and/or curtailments of certain pension and other postretirement benefits for Alcoa Corporation include $633, $952, and $55 for the years ended December 31, 2022, 2021, and 2020, respectively. The amounts related to settlements and/or curtailments of certain pension and other postretirement benefits for Noncontrolling interest include ($1), $25, and $3 for the years ended December 31, 2022, 2021, and 2020, respectively (see Note O).

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

⁽³⁾ These amounts were 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 included in Other (income) expenses, net on 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.