Statement of Consolidated Cash Flows (unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FROM OPERATIONS
Net (loss) income	$ (353)	$ 1,227
Adjustments to reconcile net (loss) income to cash from operations:
Depreciation, depletion, and amortization	306	321
Deferred income taxes	(36)	93
Equity loss (income), net of dividends	123	(61)
Restructuring and other charges, net (D)	173	50
Net loss from investing activities - asset sales (R)	19	5
Net periodic pension benefit cost (M)	2	28
Stock-based compensation	21	20
Loss (gain) on mark-to-market derivative financial contracts	4	(123)
Other	59	28
Changes in assets and liabilities, excluding effects of divestitures and foreign currency translation adjustments:
Decrease (increase) in receivables	71	(153)
Decrease (increase) in inventories	22	(657)
Decrease in prepaid expenses and other current assets	63	15
(Decrease) increase in accounts payable, trade	(277)	98
Decrease in accrued expenses	(48)	(103)
Decrease in taxes, including income taxes	(146)	(79)
Pension contributions (M)	(9)	(9)
Increase in noncurrent assets	(66)	(71)
Decrease in noncurrent liabilities	(104)	(59)
CASH (USED FOR) PROVIDED FROM OPERATIONS	(176)	570
FINANCING ACTIVITIES
Additions to debt	25
Payments on debt	(16)
Proceeds from the exercise of employee stock options	1	22
Repurchase of common stock		(350)
Dividends paid on Alcoa common stock	(36)	(37)
Payments related to tax withholding on stock-based compensation awards	(34)	(19)
Financial contributions for the divestiture of businesses (C)	(25)	(9)
Contributions from noncontrolling interest	122	83
Distributions to noncontrolling interest	(22)	(245)
Other	1	(3)
CASH PROVIDED FROM (USED FOR) FINANCING ACTIVITIES	16	(558)
INVESTING ACTIVITIES
Capital expenditures	(198)	(181)
Proceeds from the sale of assets	2	4
Additions to investments	(36)	(21)
Sale of investments		10
Other	10	2
CASH USED FOR INVESTING ACTIVITIES	(222)	(186)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	5	(2)
Net change in cash and cash equivalents and restricted cash	(377)	(176)
Cash and cash equivalents and restricted cash at beginning of year	1,474	1,924
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$ 1,097	$ 1,748