Recently Adopted and Recently Issued Accounting Guidance (Tables)

9 Months Ended

Sep. 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
	Third quarter ended September 30,						Third quarter ended September 30,
	2013			2012			2013			2012
Pension and other postretirement benefits
Balance at beginning of period	$	(3,907	)	$	(3,402	)	$	(74	)	$	(93	)
Other comprehensive income:
Unrecognized net actuarial loss and prior service cost/benefit		46			(22	)		—			—
Tax (expense) benefit		(12	)		6			—			—
Total Other comprehensive income (loss) before reclassifications, net of tax		34			(16	)		—			—
Amortization of net actuarial loss and prior service cost/benefit(1)		135			101			2			4
Tax (expense) benefit(2)		(47	)		(35	)		—			(2	)
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		88			66			2			2
Total Other comprehensive income		122			50			2			2
Balance at end of period	$	(3,785	)	$	(3,352	)	$	(72	)	$	(91	)
Foreign currency translation
Balance at beginning of period	$	428		$	908		$	24		$	229
Other comprehensive (loss) income:
Foreign currency translation adjustments(3)		(4	)		202			(32	)		36
Balance at end of period	$	424		$	1,110		$	(8	)	$	265
Available-for-sale securities
Balance at beginning of period	$	1		$	2		$	—		$	—
Other comprehensive income:
Net unrealized holding gain		1			2			—			—
Tax (expense) benefit		—			—			—			—
Total Other comprehensive income before reclassifications, net of tax		1			2			—			—
Net amount reclassified to earnings(4)		—			—			—			—
Tax (expense) benefit(2)		—			—			—			—
Total amount reclassified from Accumulated other comprehensive income, net of tax(7)		—			—			—			—
Total Other comprehensive income		1			2			—			—
Balance at end of period	$	2		$	4		$	—		$	—
Cash flow hedges (M)
Balance at beginning of period	$	(305	)	$	(386	)	$	(5	)	$	(10	)
Other comprehensive (loss) income:
Net change from periodic revaluations		(70	)		(174	)		2			(1	)
Tax benefit (expense)		14			39			(1	)		1
Total Other comprehensive (loss) income before reclassifications, net of tax		(56	)		(135	)		1			—
Net amount reclassified to earnings:
Aluminum contracts(5)		5			(32	)		—			—
Foreign exchange contracts(5)		3			—			—			—
Interest rate contracts(6)		—			1			—			—
Sub-total		8			(31	)		—			—
Tax (expense) benefit(2)		(2	)		13			—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		6			(18	)		—			—
Total Other comprehensive (loss) income		(50	)		(153	)		1			—
Balance at end of period	$	(355	)	$	(539	)	$	(4	)	$	(10	)

	Alcoa						Noncontrolling Interests
	Nine months ended September 30,						Nine months ended September 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		19			(18	)		—			—
Tax benefit (expense)		2			6			—			—
Total Other comprehensive income (loss) before reclassifications, net of tax		21			(12	)		—			—
Amortization of net actuarial loss and prior service cost/benefit(1)		395			297			7			12
Tax (expense) benefit(2)		(138	)		(104	)		(2	)		(4	)
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		257			193			5			8
Total Other comprehensive income		278			181			5			8
Balance at end of period	$	(3,785	)	$	(3,352	)	$	(72	)	$	(91	)
Foreign currency translation
Balance at beginning of period	$	1,147		$	1,349		$	257		$	351
Other comprehensive loss:
Foreign currency translation adjustments(3)		(723	)		(239	)		(265	)		(86	)
Balance at end of period	$	424		$	1,110		$	(8	)	$	265
Available-for-sale securities
Balance at beginning of period	$	3		$	—		$	—		$	—
Other comprehensive (loss) income:
Net unrealized holding (loss) gain		(4	)		6			—			—
Tax benefit (expense)		2			(2	)		—			—
Total Other comprehensive (loss) income before reclassifications, net of tax		(2	)		4			—			—
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		(1	)		4			—			—
Balance at end of period	$	2		$	4		$	—		$	—
Cash flow hedges (M)
Balance at beginning of period	$	(489	)	$	(443	)	$	(5	)	$	(4	)
Other comprehensive income (loss):
Net change from periodic revaluations		151			(90	)		2			(9	)
Tax (expense) benefit		(31	)		13			(1	)		3
Total Other comprehensive income (loss) before reclassifications, net of tax		120			(77	)		1			(6	)
Net amount reclassified to earnings:
Aluminum contracts(5)		12			(39	)		—			—
Foreign exchange contracts(5)		3			—			—			—
Interest rate contracts(6)		1			2			—			—
Sub-total		16			(37	)		—			—
Tax (expense) benefit(2)		(2	)		18			—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		14			(19	)		—			—
Total Other comprehensive income (loss)		134			(96	)		1			(6	)
Balance at end of period	$	(355	)	$	(539	)	$	(4	)	$	(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 (benefit) 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 (income) expenses, net on the accompanying Statement of Consolidated Operations.

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

⁽⁶⁾  These amounts were 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 6.