Separation Transaction and Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2016

Alcoa Corporation [Member]

Summary of Discontinued Operations in Financial Statements

The results of operations of Alcoa Corporation are presented as discontinued operations in the Statement of Consolidated Operations as summarized below:

	Ten months ended October 31,			Year ended December 31,
	2016			2015			2014
Sales	$	6,752		$	10,121		$	11,364
Cost of goods sold (exclusive of expenses below)		5,655			7,965			8,782
Selling, general administrative, and other expenses		164			214			231
Research and development		28			69			95
Provision for depreciation, depletion and amortization		593			772			935
Restructuring and other charges		102			981			854
Interest expense		28			25			31
Other (income) expenses, net		(75	)		30			52
Income from discontinued operations before income taxes		257			65			384
Provision for income taxes		73			106			146
Income (loss) from discontinued operations after income taxes		184			(41	)		238
Less: Net income (loss) from discontinued operations attributable to noncontrolling interests		63			124			(91	)
Net income (loss) from discontinued operations	$	121		$	(165	)	$	329

The carrying amount of the major classes of assets and liabilities related to Alcoa Corporation classified as assets and liabilities of discontinued operations in the Consolidated Balance Sheet at December 31, 2015 consisted of the following:

Total assets of discontinued operations:
Cash and cash equivalents	$	557
Receivables from customers		380
Other receivables		128
Inventories		1,158
Prepaid expenses and other current assets		333
Current assets of discontinued operations		2,556
Properties, plants, and equipment, net		9,390
Goodwill		152
Investments		1,472
Deferred income taxes		1,360
Other noncurrent assets		2,224
Noncurrent assets of discontinued operations		14,598
Total assets of discontinued operations	$	17,154
Total liabilities of discontinued operations:
Accounts payable, trade	$	1,379
Accrued compensation and retirement costs		440
Taxes, including income taxes		136
Other current liabilities		563
Long-term debt due within one year		18
Current liabilities of discontinued operations	$	2,536
Long-term debt less amount due within one year		207
Accrued pension benefits		1,373
Accrued other postretirement benefits		1,189
Other noncurrent liabilities and deferred credits		1,910
Noncurrent liabilities of discontinued operations		4,679
Total liabilities of discontinued operations	$	7,215

The following table presents depreciation, depreciation and amortization, restructuring and other charges, and purchases of property, plant and equipment of the discontinued operations related to Alcoa Corporation:

For the year ended December 31,	2016		2015		2014
Depreciation, depletion and amortization	$	593	$	772	$	935
Restructuring and other charges	$	102	$	981	$	854
Capital expenditures	$	298	$	391	$	444