Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2015

Equity [Abstract]

Accumulated Other Comprehensive Loss

C. Accumulated Other Comprehensive Loss

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
	First quarter ended March 31,						First quarter ended March 31,
	2015			2014			2015			2014
Pension and other postretirement benefits (M)
Balance at beginning of period	$	(3,601	)	$	(3,532	)	$	(64	)	$	(51	)
Other comprehensive income:
Unrecognized net actuarial loss and prior service cost/benefit		42			17			—			—
Tax expense		(11	)		(3	)		—			—
Total Other comprehensive income before reclassifications, net of tax		31			14			—			—
Amortization of net actuarial loss and prior service cost/benefit(1)		114			98			3			1
Tax expense(2)		(40	)		(35	)		(1	)		(1	)
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		74			63			2			—
Total Other comprehensive income		105			77			2			—
Balance at end of period	$	(3,496	)	$	(3,455	)	$	(62	)	$	(51	)
Foreign currency translation
Balance at beginning of period	$	(846	)	$	179		$	(351	)	$	(110	)
Other comprehensive (loss) income(3)		(957	)		249			(250	)		87
Balance at end of period	$	(1,803	)	$	428		$	(601	)	$	(23	)
Available-for-sale securities
Balance at beginning of period	$	—		$	2		$	—		$	—
Other comprehensive income(4)		2			—			—			—
Balance at end of period	$	2		$	2		$	—		$	—
Cash flow hedges (N)
Balance at beginning of period	$	(230	)	$	(308	)	$	(2	)	$	(2	)
Other comprehensive (loss) income:
Net change from periodic revaluations		(110	)		36			—			3
Tax benefit (expense)		34			(8	)		—			(1	)
Total Other comprehensive (loss) income before reclassifications, net of tax		(76	)		28			—			2
Net amount reclassified to earnings:
Aluminum contracts(5)		13			5			—			—
Energy contracts(6)		2			—			—			—
Sub-total		15			5			—			—
Tax expense(2)		(3	)		(1	)		—			—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7)		12			4			—			—
Total Other comprehensive (loss) income		(64	)		32			—			2
Balance at end of period	$	(294	)	$	(276	)	$	(2	)	$	—

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

⁽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⁾  In all periods presented, unrealized and realized gains and losses related to these securities were immaterial. Realized gains and losses were 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 Cost of goods sold 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.