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Statement of Consolidated Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash from Operations      
Net (loss) income $ (74) $ (878) $ (197)
Adjustments to reconcile net loss to cash from operations:      
Depreciation, depletion and amortization 551 1,132 1,280
Deferred income taxes 434 1,125 34
Equity income, net of dividends 0 42 158
Impairment of goodwill (A and E) 719 0 25
Restructuring and other charges 165 257 1,195
Net gain from investing activities—asset sales (513) (156) (74)
Net periodic pension benefit cost 217 304 485
Stock-based compensation 67 86 92
Excess tax benefits from stock-based payment arrangements 0 0 (9)
Other 61 60 (32)
Changes in assets and liabilities, excluding effects of acquisitions, divestitures, and foreign currency translation adjustments:      
(Increase) decrease in receivables (124) (238) 212
(Increase) in inventories (192) (29) (64)
Decrease (increase) in prepaid expenses and other current assets 11 (76) 46
Increase (decrease) in accounts payable, trade 62 232 (90)
(Decrease) in accrued expenses (116) (394) (437)
(Decrease) increase in taxes, including income taxes (23) 93 25
Pension contributions (310) (290) (470)
(Increase) in noncurrent assets (41) (152) (370)
(Decrease) in noncurrent liabilities (193) (248) (227)
Cash provided from operations 701 870 1,582
Financing Activities      
Net change in short-term borrowings (original maturities of three months or less) (2) (3) (16)
Additions to debt (original maturities greater than three months) 816 1,962 1,901
Payments on debt (original maturities greater than three months) (1,634) (2,734) (2,030)
Proceeds from exercise of employee stock options 50 4 25
Excess tax benefits from stock-based payment arrangements 0 0 9
Dividends paid to shareholders (162) (228) (223)
Distributions to noncontrolling interests (14) (226) (106)
Contributions from noncontrolling interests 0 51 2
Net cash transferred from Alcoa Corporation at separation 0 421 0
Other (17) (1) (3)
Cash used for financing activities (963) (754) (441)
Investing Activities      
Capital expenditures (596) (1,125) (1,180)
Acquisitions, net of cash acquired (F and M) 0 10 97
Proceeds from the sale of assets and businesses (M) (9) 692 112
Additions to investments (2) (52) (134)
Sales of investments (C and M) 890 280 40
Net change in restricted cash 12 14 (20)
Other (C) 245 16 25
Cash provided from (used for) investing activities 540 (165) (1,060)
Effect of exchange rate changes on cash and cash equivalents 9 (7) (39)
Net change in cash and cash equivalents 287 (56) 42
Cash and cash equivalents at beginning of year 1,863 1,919 1,877
Cash and cash equivalents at end of year $ 2,150 $ 1,863 $ 1,919