XML 68 R56.htm IDEA: XBRL DOCUMENT v3.4.0.3
Derivatives and Other Financial Instruments - Schedule of Quantitative Information for Level 3 Derivative Contracts (Detail)
$ in Millions
3 Months Ended
Mar. 31, 2016
USD ($)
Index
$ / Metric_Ton
$ / MWh
$ / Barrels
$ / AUD
$ / lb
Dec. 31, 2015
USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Derivative Assets, Fair value | $ $ 994 $ 1,137
Embedded Aluminum Derivative [Member] | Price of Aluminum beyond Forward Curve [Member] | Level 3 [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Derivative Assets, Fair value | $ 931  
Derivative Liabilities, Fair value | $ $ 161  
Embedded Aluminum Derivative [Member] | Price of Aluminum beyond Forward Curve [Member] | Level 3 [Member] | Minimum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Expected future aluminum prices 2,027  
Maturity year of future aluminum price 2026  
Embedded Aluminum Derivative [Member] | Price of Aluminum beyond Forward Curve [Member] | Level 3 [Member] | Maximum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Expected future aluminum prices 2,084  
Maturity year of future aluminum price 2027  
Embedded Aluminum Derivative [Member] | Price of Aluminum beyond Forward Curve [Member] | Average Price [Member] | Level 3 [Member] | Minimum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Expected future aluminum prices 2,027  
Maturity year of future aluminum price 2026  
Embedded Aluminum Derivative [Member] | Price of Aluminum beyond Forward Curve [Member] | Midwest Premium | Level 3 [Member] | Minimum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Midwest Premium | $ / lb 0.084  
Foreign currency exchange rate expected year 2021  
Embedded Aluminum Derivative [Member] | Price of Aluminum beyond Forward Curve [Member] | Midwest Premium | Level 3 [Member] | Maximum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Midwest Premium | $ / lb 0.084  
Embedded Aluminum Derivative [Member] | Interrelationship of Future Aluminum Prices, Foreign Currency Exchange Rates, and U.S. Consumer Price Index [Member] | Level 3 [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Derivative Assets, Fair value | $ $ 48  
Embedded Aluminum Derivative [Member] | Interrelationship of Future Aluminum Prices, Foreign Currency Exchange Rates, and U.S. Consumer Price Index [Member] | Average Price [Member] | Level 3 [Member] | Minimum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Expected future aluminum prices 1,487  
Maturity year of future aluminum price 2016  
Embedded Aluminum Derivative [Member] | Interrelationship of Future Aluminum Prices, Foreign Currency Exchange Rates, and U.S. Consumer Price Index [Member] | Average Price [Member] | Level 3 [Member] | Maximum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Expected future aluminum prices 1,507  
Maturity year of future aluminum price 2016  
Embedded Aluminum Derivative [Member] | Interrelationship of Future Aluminum Prices, Foreign Currency Exchange Rates, and U.S. Consumer Price Index [Member] | Estimated Foreign Currency Exchange Rate [Member] | Level 3 [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Foreign currency exchange rate | $ / AUD 0.77  
Foreign currency exchange rate expected year 2016  
Embedded Aluminum Derivative [Member] | Interrelationship of Future Aluminum Prices, Foreign Currency Exchange Rates, and U.S. Consumer Price Index [Member] | Consumer Price Index [Member] | Level 3 [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Consumer price index base year 1982  
Consumer price index base | Index 100  
Embedded Aluminum Derivative [Member] | Interrelationship of Future Aluminum Prices, Foreign Currency Exchange Rates, and U.S. Consumer Price Index [Member] | Consumer Price Index [Member] | Level 3 [Member] | Minimum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Expected consumer price index | Index 232  
Expected consumer price index, Year 2016  
Embedded Aluminum Derivative [Member] | Interrelationship of Future Aluminum Prices, Foreign Currency Exchange Rates, and U.S. Consumer Price Index [Member] | Consumer Price Index [Member] | Level 3 [Member] | Maximum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Expected consumer price index | Index 234  
Expected consumer price index, Year 2016  
Embedded Aluminum Derivative [Member] | Interrelationship of LME Price to Overall Energy Price [Member] | Level 3 [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Derivative Assets, Fair value | $ $ 9  
Embedded Aluminum Derivative [Member] | Interrelationship of LME Price to Overall Energy Price [Member] | Average Price [Member] | Level 3 [Member] | Minimum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Expected future aluminum prices 1,518  
Maturity year of future aluminum price 2016  
Embedded Aluminum Derivative [Member] | Interrelationship of LME Price to Overall Energy Price [Member] | Average Price [Member] | Level 3 [Member] | Maximum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Expected future aluminum prices 1,681  
Maturity year of future aluminum price 2019  
Embedded Aluminum Derivative [Member] | Interrelationship of Future Aluminum and Oil Prices [Member] | Average Price [Member] | Level 3 [Member] | Minimum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Expected future aluminum prices 1,487  
Maturity year of future aluminum price 2016  
Expected future oil prices | $ / Barrels 39  
Maturity year of future oil price 2016  
Embedded Aluminum Derivative [Member] | Interrelationship of Future Aluminum and Oil Prices [Member] | Average Price [Member] | Level 3 [Member] | Maximum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Expected future aluminum prices 1,615  
Maturity year of future aluminum price 2018  
Expected future oil prices | $ / Barrels 49  
Maturity year of future oil price 2018  
Embedded Aluminum Derivative [Member] | Two Contracts [Member] | Price of Aluminum beyond Forward Curve [Member] | Average Price [Member] | Level 3 [Member] | Maximum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Expected future aluminum prices 2,192  
Maturity year of future aluminum price 2029  
Embedded Aluminum Derivative [Member] | Two Contracts [Member] | Price of Aluminum beyond Forward Curve [Member] | Midwest Premium | Level 3 [Member] | Maximum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Foreign currency exchange rate expected year 2029  
Embedded Aluminum Derivative [Member] | One Contract [Member] | Price of Aluminum beyond Forward Curve [Member] | Average Price [Member] | Level 3 [Member] | Maximum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Expected future aluminum prices 2,489  
Maturity year of future aluminum price 2036  
Embedded Aluminum Derivative [Member] | One Contract [Member] | Price of Aluminum beyond Forward Curve [Member] | Midwest Premium | Level 3 [Member] | Maximum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Foreign currency exchange rate expected year 2036  
Embedded Credit Derivative [Member] | Credit Spread between Alcoa and Counterparty [Member] | Level 3 [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Derivative Liabilities, Fair value | $ $ 33  
Embedded Credit Derivative [Member] | Credit Spread between Alcoa and Counterparty [Member] | Credit Spread [Member] | Level 3 [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Percentage of credit spread 3.58%  
Embedded Credit Derivative [Member] | Credit Spread between Alcoa and Counterparty [Member] | Credit Spread [Member] | Level 3 [Member] | Minimum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Percentage of credit spread 3.17%  
Embedded Credit Derivative [Member] | Credit Spread between Alcoa and Counterparty [Member] | Credit Spread [Member] | Level 3 [Member] | Maximum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Percentage of credit spread 4.00%  
Energy Contracts [Member] | Price of Electricity beyond Forward Curve [Member] | Level 3 [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Derivative Liabilities, Fair value | $ $ 5  
Energy Contracts [Member] | Price of Electricity beyond Forward Curve [Member] | Average Price [Member] | Level 3 [Member] | Minimum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Price of electricity beyond forward curve | $ / MWh 47  
Maturity date of electricity beyond forward curve 2019  
Energy Contracts [Member] | Price of Electricity beyond Forward Curve [Member] | Average Price [Member] | Level 3 [Member] | Maximum [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Price of electricity beyond forward curve | $ / MWh 115  
Maturity date of electricity beyond forward curve 2036