Cash Flow Information

12 Months Ended

Dec. 31, 2012

Cash Flow Information

P. Cash Flow Information

Cash paid for interest and income taxes was as follows:

	2012		2011		2010
Interest, net of amount capitalized	$	454	$	491	$	452
Income taxes, net of amount refunded		223		382		(67	)

The details related to cash paid for acquisitions were as follows:

	2012		2011			2010
Assets acquired	$	-	$	253		$	87
Liabilities assumed		-		(12	)		(15	)
Noncontrolling interests acquired		-		-			4
Redemption of convertible securities of subsidiary		-		-			40
Reduction in Alcoa shareholders’ equity		-		-			22
Cash paid		-		241			138
Less: cash acquired		-		1			-
Net cash paid	$	-	$	240		$	138

Noncash Financing and Investing Activities. In August 2012, Alcoa received a loan of $250 for the purpose of financing all or part of the cost of acquiring, constructing, reconstructing, and renovating certain facilities at Alcoa’s rolling mill plant in Davenport, IA (see Note K). Because this loan can only be used for this purpose, the net proceeds of $248 were classified as restricted cash. Since restricted cash is not part of cash and cash equivalents, this transaction was not reflected in the accompanying Statement of Consolidated Cash Flows as it represents a noncash activity. As funds are expended for the project, the release of the cash will be reflected as both an inflow on the Net change in restricted cash line and an outflow on the Capital expenditures line in the Investing Activities section of the Statement of Consolidated Cash Flows. At December 31, 2012, Alcoa had $171 of restricted cash remaining related to this transaction.

In 2011 and 2010, Alcoa issued $600 in common stock to satisfy a portion of its accrued pension benefits liability (see Notes R and W).