Segment Information

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Segment Information

I. Segment Information – The operating results of Alcoa’s reportable segments were as follows (differences between segment totals and consolidated totals are in Corporate):

	Alumina			Primary Metals			Global Rolled Products			Engineered Products and Solutions		Total
First quarter ended March 31, 2015
Sales:
Third-party sales	$	887		$	1,572		$	1,621		$	1,689	$	5,769
Intersegment sales		501			692			36			—		1,229
Total sales	$	1,388		$	2,264		$	1,657		$	1,689	$	6,998
Profit and loss:
Equity loss	$	(7	)	$	(3	)	$	(9	)	$	—	$	(19	)
Depreciation, depletion, and amortization		80			109			56			60		305
Income taxes		92			57			26			89		264
After-tax operating income (ATOI)		221			187			34			191		633
First quarter ended March 31, 2014
Sales:
Third-party sales	$	845		$	1,424		$	1,677		$	1,443	$	5,389
Intersegment sales		510			734			43			—		1,287
Total sales	$	1,355		$	2,158		$	1,720		$	1,443	$	6,676
Profit and loss:
Equity loss	$	(5	)	$	(28	)	$	(5	)	$	—	$	(38	)
Depreciation, depletion, and amortization		97			124			58			40		319
Income taxes		40			(11	)		34			91		154
ATOI		92			(15	)		59			189		325

The following table reconciles total segment ATOI to consolidated net income (loss) attributable to Alcoa:

	First quarter ended March 31,
	2015			2014
Total segment ATOI	$	633		$	325
Unallocated amounts (net of tax):
Impact of LIFO		7			(7	)
Interest expense		(80	)		(78	)
Noncontrolling interests		(60	)		19
Corporate expense		(64	)		(67	)
Restructuring and other charges		(161	)		(321	)
Other		(80	)		(49	)
Consolidated net income (loss) attributable to Alcoa	$	195		$	(178	)

Items required to reconcile total segment ATOI to consolidated net income (loss) attributable to Alcoa include: the impact of LIFO inventory accounting; interest expense; noncontrolling interests; corporate expense (general administrative and selling expenses of operating the corporate headquarters and other global administrative facilities, along with depreciation and amortization on corporate-owned assets); restructuring and other charges; and other items, including intersegment profit eliminations, differences between tax rates applicable to the segments and the consolidated effective tax rate, the results of the soft alloy extrusions business in Brazil, and other nonoperating items such as foreign currency transaction gains/losses and interest income.