Recently Adopted and Recently Issued Accounting Guidance (Tables)

6 Months Ended

Jun. 30, 2013

Accounting Changes And Error Corrections [Abstract]

Summary of Changes in Accumulated Other Comprehensive Loss by Component

The changes in Accumulated other comprehensive loss by component were as follows:

	Alcoa						Noncontrolling Interests
	Second quarter ended June  30,						Second quarter ended June  30,
	2013			2012			2013			2012
Pension and other postretirement benefits
Balance at beginning of period	$	(3,968	)	$	(3,477	)	$	(76	)	$	(97	)
Other comprehensive income:
Unrecognized net actuarial loss and prior service cost/benefit		(38	)		17			—			—
Tax benefit (expense)		17			(3	)		—			—
Total Other comprehensive (loss) income before reclassifications, net of tax		(21	)		14			—			—
Amortization of net actuarial loss and prior service cost/benefit(1)		128			95			4			6
Tax (expense) benefit(2)		(46	)		(34	)		(2	)		(2	)
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		82			61			2			4
Total Other comprehensive income		61			75			2			4
Balance at end of period	$	(3,907	)	$	(3,402	)	$	(74	)	$	(93	)
Foreign currency translation
Balance at beginning of period	$	1,031		$	1,593		$	273		$	416
Other comprehensive loss:
Foreign currency translation adjustments(3)		(603	)		(685	)		(249	)		(187	)
Balance at end of period	$	428		$	908		$	24		$	229
Available-for-sale securities
Balance at beginning of period	$	4		$	2		$	—		$	—
Other comprehensive loss:
Net unrealized holding (loss) gain		(4	)		1			—			—
Tax benefit (expense)		2			(1	)		—			—
Total Other comprehensive loss before reclassifications, net of tax		(2	)		—			—			—
Net amount reclassified to earnings(4)		—			—			—			—
Tax (expense) benefit(2)		(1	)		—			—			—
Total amount reclassified from Accumulated other comprehensive income, net of tax(7)		(1	)		—			—			—
Total Other comprehensive loss		(3	)		—			—			—
Balance at end of period	$	1		$	2		$	—		$	—
Cash flow hedges (M)
Balance at beginning of period	$	(376	)	$	(524	)	$	(3	)	$	(6	)
Other comprehensive income (loss):
Net change from periodic revaluations		85			187			(3	)		(5	)
Tax (expense) benefit		(16	)		(47	)		1			1
Total Other comprehensive income (loss) before reclassifications, net of tax		69			140			(2	)		(4	)
Net amount reclassified to earnings:
Aluminum contracts(5)		—			(7	)		—			—
Interest rate contracts(6)		1			2			—			—
Sub-total		1			(5	)		—			—
Tax benefit (expense)(2)		1			3			—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		2			(2	)		—			—
Total Other comprehensive income (loss)		71			138			(2	)		(4	)
Balance at end of period	$	(305	)	$	(386	)	$	(5	)	$	(10	)

	Alcoa						Noncontrolling Interests
	Six months ended    June 30,						Six months ended    June 30,
	2013			2012			2013			2012
Pension and other postretirement benefits
Balance at beginning of period	$	(4,063	)	$	(3,533	)	$	(77	)	$	(99	)
Other comprehensive income:
Unrecognized net actuarial loss and prior service cost/benefit		(27	)		4			—			—
Tax benefit (expense)		14			—			—			—
Total Other comprehensive (loss) income before reclassifications, net of tax		(13	)		4			—			—
Amortization of net actuarial loss and prior service cost/benefit(1)		260			196			5			8
Tax (expense) benefit(2)		(91	)		(69	)		(2	)		(2	)
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		169			127			3			6
Total Other comprehensive income		156			131			3			6
Balance at end of period	$	(3,907	)	$	(3,402	)	$	(74	)	$	(93	)
Foreign currency translation
Balance at beginning of period	$	1,147		$	1,349		$	257		$	351
Other comprehensive loss:
Foreign currency translation adjustments(3)		(719	)		(441	)		(233	)		(122	)
Balance at end of period	$	428		$	908		$	24		$	229
Available-for-sale securities
Balance at beginning of period	$	3		$	—		$	—		$	—
Other comprehensive (loss) income:
Net unrealized holding (loss) gain		(5	)		4			—			—
Tax benefit (expense)		2			(2	)		—			—
Total Other comprehensive (loss) income before reclassifications, net of tax		(3	)		2			—			—
Net amount reclassified to earnings(4)		2			—			—			—
Tax (expense) benefit(2)		(1	)		—			—			—
Total amount reclassified from Accumulated other comprehensive income, net of tax(7)		1			—			—			—
Total Other comprehensive (loss) income		(2	)		2			—			—
Balance at end of period	$	1		$	2		$	—		$	—
Cash flow hedges (M)
Balance at beginning of period	$	(489	)	$	(443	)	$	(5	)	$	(4	)
Other comprehensive income (loss):
Net change from periodic revaluations		221			84			—			(8	)
Tax (expense) benefit		(45	)		(26	)		—			2
Total Other comprehensive income (loss) before reclassifications, net of tax		176			58			—			(6	)
Net amount reclassified to earnings:
Aluminum contracts(5)		7			(7	)		—			—
Interest rate contracts(6)		1			1			—			—
Sub-total		8			(6	)		—			—
Tax (expense) benefit(2)		—			5			—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		8			(1	)		—			—
Total Other comprehensive income (loss)		184			57			—			(6	)
Balance at end of period	$	(305	)	$	(386	)	$	(5	)	$	(10	)

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

⁽²⁾  These amounts were included 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⁾  This amount was included in Other expenses (income), net on the accompanying Statement of Consolidated Operations.

⁽⁵⁾  These amounts were included in Sales on the accompanying Statement of Consolidated Operations.

⁽⁶⁾  For the second quarter ended June 30, 2012, a portion of this amount was included in both Interest expense and Other expenses (income), net on the accompanying Statement of Consolidated Operations. For all other periods presented, this amount was included in Interest expense 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. These amounts were reflected on the accompanying Statement of Consolidated Operations in the line items indicated in footnotes 1 through 5.