Cash Flow Information

12 Months Ended

Dec. 31, 2015

Supplemental Cash Flow Elements [Abstract]

P. Cash Flow Information

Cash paid for interest and income taxes was as follows:


	2015		2014		2013
Interest, net of amount capitalized	$	487	$	441	$	433
Income taxes, net of amount refunded	$	345		301		200

The details related to cash paid for acquisitions (including of a noncontrolling interest in 2014) were as follows:


	2015			2014			2013
Assets acquired	$	2,003		$	3,515		$	-
Liabilities assumed		(868	)		(345	)		-
Contingent consideration liability		-			(130	)		-
Equity issued		(870	)		(610	)		-
Noncontrolling interest acquired		-			31			-
Increase in Alcoa’s shareholders’ equity		(60	)		(3	)		-
Cash paid		205			2,458			-
Less: cash acquired		302			45			-
Net cash paid	$	(97	)	$	2,413		$	-

Noncash Financing and Investing Activities. In July 2015, Alcoa purchased all outstanding shares of RTI common stock in a stock-for-stock transaction valued at $870 (see Note F). As a result, Alcoa issued 87 million shares of its common stock to consummate this transaction, which was not reflected in the accompanying Statement of Consolidated Cash Flows as it represents a noncash financing activity.

In early 2014, holders of $575 principal amount of Alcoa’s 5.25% Convertible Notes due March 15, 2014 (the “2014 Notes”) exercised their option to convert the 2014 Notes into 89 million shares of Alcoa common stock (see Note K). This transaction was not reflected in the accompanying Statement of Consolidated Cash Flows as it represents a noncash financing activity.

In late 2014, Alcoa paid $2,995 (net of cash acquired) to acquire Firth Rixson (see Note F). A portion of this consideration was paid through the issuance of 37 million shares in Alcoa common stock valued at $610. The issuance of common stock was not reflected in the accompanying Statement of Consolidated Cash Flows as it represents a noncash investing activity.