Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2014

Equity [Abstract]

Summary of Changes in Accumulated Other Comprehensive Loss by Component

The following table details the activity of the four components that comprise Accumulated other comprehensive loss for both Alcoa’s shareholders and noncontrolling interests:

	Alcoa						Noncontrolling Interests
	Third quarter ended September 30,						Third quarter ended September 30,
	2014			2013			2014			2013
Pension and other postretirement benefits
Balance at beginning of period	$	(3,441	)	$	(3,907	)	$	(50	)	$	(74	)
Other comprehensive income (loss):
Unrecognized net actuarial loss and prior service cost/benefit		96			46			(9	)		—
Tax expense		(33	)		(12	)		3			—
Total Other comprehensive income before reclassifications, net of tax		63			34			(6	)		—
Amortization of net actuarial loss and prior service cost/benefit(1)		97			135			3			2
Tax (expense) benefit(2)		(34	)		(47	)		(1	)		—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		63			88			2			2
Total Other comprehensive income (loss)		126			122			(4	)		2
Balance at end of period	$	(3,315	)	$	(3,785	)	$	(54	)	$	(72	)
Foreign currency translation
Balance at beginning of period	$	569		$	428		$	36		$	24
Other comprehensive loss(3)		(774	)		(4	)		(226	)		(32	)
Balance at end of period	$	(205	)	$	424		$	(190	)	$	(8	)
Available-for-sale securities
Balance at beginning of period	$	3		$	1		$	—		$	—
Other comprehensive (loss) income(4)		(1	)		1			—			—
Balance at end of period	$	2		$	2		$	—		$	—
Cash flow hedges (P)
Balance at beginning of period	$	(299	)	$	(305	)	$	(8	)	$	(5	)
Other comprehensive (loss) income:
Net change from periodic revaluations		(35	)		(70	)		7			2
Tax benefit (expense)		11			14			(2	)		(1	)
Total Other comprehensive (loss) income before reclassifications, net of tax		(24	)		(56	)		5			1
Net amount reclassified to earnings:
Aluminum contracts(5)		7			5			—			—
Foreign exchange contracts(5)		(1	)		3			—			—
Interest rate contracts(6)		—			—			—			—
Sub-total		6			8			—			—
Tax expense(2)		(1	)		(2	)		—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		5			6			—			—
Total Other comprehensive (loss) income		(19	)		(50	)		5			1
Balance at end of period	$	(318	)	$	(355	)	$	(3	)	$	(4	)

	Alcoa						Noncontrolling Interests
	Nine months ended September 30,						Nine months ended September 30,
	2014			2013			2014			2013
Pension and other postretirement benefits
Balance at beginning of period	$	(3,532	)	$	(4,063	)	$	(51	)	$	(77	)
Other comprehensive income (loss):
Unrecognized net actuarial loss and prior service cost/benefit		33			19			(9	)		—
Tax (expense) benefit		(8	)		2			3			—
Total Other comprehensive income before reclassifications, net of tax		25			21			(6	)		—
Amortization of net actuarial loss and prior service cost/benefit(1)		296			395			5			7
Tax (expense) benefit(2)		(104	)		(138	)		(2	)		(2	)
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		192			257			3			5
Total Other comprehensive income (loss)		217			278			(3	)		5
Balance at end of period	$	(3,315	)	$	(3,785	)	$	(54	)	$	(72	)
Foreign currency translation
Balance at beginning of period	$	179		$	1,147		$	(110	)	$	257
Other comprehensive loss(3)		(384	)		(723	)		(80	)		(265	)
Balance at end of period	$	(205	)	$	424		$	(190	)	$	(8	)
Available-for-sale securities
Balance at beginning of period	$	2		$	3		$	—		$	—
Other comprehensive loss(4)		—			(1	)		—			—
Balance at end of period	$	2		$	2		$	—		$	—
Cash flow hedges (P)
Balance at beginning of period	$	(308	)	$	(489	)	$	(2	)	$	(5	)
Other comprehensive (loss) income:
Net change from periodic revaluations		(31	)		151			(2	)		2
Tax benefit (expense)		7			(31	)		1			(1	)
Total Other comprehensive (loss) income before reclassifications, net of tax		(24	)		120			(1	)		1
Net amount reclassified to earnings:
Aluminum contracts(5)		18			12			—			—
Foreign exchange contracts(5)		(2	)		3			—			—
Interest rate contracts(6)		1			1			—			—
Sub-total		17			16			—			—
Tax expense(2)		(3	)		(2	)		—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		14			14			—			—
Total Other comprehensive (loss) income		(10	)		134			(1	)		1
Balance at end of period	$	(318	)	$	(355	)	$	(3	)	$	(4	)

⁽¹⁾  These amounts were included in the computation of net periodic benefit cost for pension and other postretirement benefits (see Note O).

⁽²⁾  These amounts were included in Provision 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⁾  In all periods presented, unrealized and realized gains and losses related to these securities were immaterial. Realized gains and losses were included in Other expenses (income), 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.