Other Financial Information

9 Months Ended

Sep. 30, 2023

Other Financial Information [Abstract]

R. Other Financial Information

Other Expenses (Income), Net


	Third quarter ended September 30,						Nine months ended September 30,
	2023			2022			2023			2022
Equity loss (income)	$	40		$	36		$	179		$	(17	)
Foreign currency losses (gains), net		42			9			(13	)		17
Net (gain) loss from asset sales		(1	)		2			14			7
Net loss (gain) on mark-to-market derivative instruments		20			(8	)		3			(199	)
Non-service costs – pension and other postretirement benefits		4			13			10			44
Other		(20	)		(17	)		(48	)		(37	)
	$	85		$	35		$	145		$	(185	)

Other Noncurrent Assets


	September 30, 2023		December 31, 2022
Value added tax credits	$	336	$	294
Prepaid gas transmission contract		277		285
Gas supply prepayment		275		311
Deferred mining costs, net		170		161
Prepaid pension benefit		159		146
Goodwill		146		145
Noncurrent prepaid tax asset		68		72
Noncurrent restricted cash		54		56
Intangibles, net		37		29
Other		96		94
	$	1,618	$	1,593

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 had 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 to Cost of goods sold of $46 (same accounts as when incurred).

Cash and Cash Equivalents and Restricted Cash


	September 30, 2023		December 31, 2022
Cash and cash equivalents	$	926	$	1,363
Current restricted cash		50		55
Noncurrent restricted cash		54		56
	$	1,030	$	1,474