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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

Components Of Income (Loss) From Continuing Operations Before Income Taxes

		2011				2010				2009
U.S.		$	(98	)		$	(403	)		$	(512	)
Foreign			1,161				951				(986	)
		$	1,063			$	548			$	(1,498	)

Schedule Of Provision (Benefit) For Income Taxes On Income (Loss) From Continuing Operations

		2011				2010				2009
Current:
Federal*		$	10			$	33			$	(119	)
Foreign			427				409				142
State and local			(1	)			(7	)			(1	)
			436				435				22
Deferred:
Federal*			28				37				(89	)
Foreign			(211	)			(320	)			(510	)
State and local			2				(4	)			3
			(181	)			(287	)			(596	)
Total		$	255			$	148			$	(574	)

* Includes U.S. taxes related to foreign income

Reconciliation Of The U.S. Federal Statutory Rate To Alcoa's Effective Tax Rate For Continuing Operations

		2011				2010				2009
U.S. federal statutory rate			35.0	%			35.0	%			35.0	%
Taxes on foreign operations			(8.4	)			(3.5	)			(4.8	)
Permanent differences on restructuring charges and asset disposals			-				0.7				1.1
Audit and other adjustments to prior years' accruals			(1.1	)			1.2				(0.7	)
Noncontrolling interests			0.8				2.6				-
Statutory tax rate and law changes			0.8				(5.1	)			4.2
Reorganization of equity investment			-				-				4.7
Items related to smelter operations in Italy*			-				-				(9.3	)
Tax law change related to Medicare Part D			-				14.4				-
Release of valuation allowances			(0.3	)			(10.6	)			2.3
Amortization of goodwill			(2.8	)			(5.2	)			3.5
Other			-				(2.6	)			2.3
Effective tax rate			24.0	%			26.9	%			38.3	%

* Includes items not tax benefitted as follows: a $250 charge related to a 2009 decision by the European Commission on electricity pricing (see Note N), a $15 charge for environmental remediation, and a $15 restructuring charge for layoffs. Also includes a $41 valuation allowance placed on existing deferred tax assets.

Schedule Of Components Of Net Deferred Tax Assets And Liabilities

		2011								2010
December 31,		Deferred tax assets				Deferred tax liabilities				Deferred tax assets				Deferred tax liabilities
Depreciation		$	74			$	933			$	204			$	1,330
Employee benefits			2,668				51				2,383				45
Loss provisions			325				9				391				40
Deferred income/expense			45				181				104				159
Tax loss carryforwards			2,035				-				1,953				-
Tax credit carryforwards			477				-				503				-
Derivatives and hedging activities			109				43				162				12
Other			315				288				633				547
			6,048				1,505				6,333				2,133
Valuation allowance			(1,398	)			-				(1,268	)			-
		$	4,650			$	1,505			$	5,065			$	2,133

Schedule Of Expiration Periods Of The Deferred Tax Assets

December 31, 2011		Expires within 10 years				Expires within 11-20 years				No expiration*				Other*				Total
Tax loss carryforwards		$	340			$	815			$	880			$	-			$	2,035
Tax credit carryforwards			360				58				59				-				477
Other			-				-				507				3,029				3,536
Valuation allowance			(231	)			(643	)			(213	)			(311	)			(1,398	)
		$	469			$	230			$	1,233			$	2,718			$	4,650

* Deferred tax assets with no expiration may still have annual limitations on utilization. Other represents deferred tax assets whose expiration is dependent upon the reversal of the underlying temporary difference. A substantial amount of Other relates to employee benefits that will become deductible for tax purposes over an extended period of time as contributions are made to employee benefit plans and payments are made to retirees.

Schedule Of Changes In Valuation Allowance

December 31,		2011				2010
Balance at beginning of year		$	1,268			$	1,345
Increase to allowance			157				25
Release of allowance*			(25	)			(90	)
Acquisitions/Divestitures			-				(3	)
Foreign currency translation			(2	)			(9	)
Balance at end of year		$	1,398			$	1,268

* In 2010, this amount includes $57 for the reversal of a valuation allowance related to previously restricted net operating losses of a foreign subsidiary now available.

Reconciliation Of Unrecognized Tax Benefits (Excluding Interest And Penalties)

December 31,		2011				2010				2009
Balance at beginning of year		$	46			$	48			$	24
Additions for tax positions of the current year			-				-				1
Additions for tax positions of prior years			13				30				24
Reductions for tax positions of prior years			(3	)			(5	)			-
Settlements with tax authorities			(4	)			(22	)			(5	)
Expiration of the statute of limitations			-				(5	)			-
Foreign currency translation			(1	)			-				4
Balance at end of year		$	51			$	46			$	48

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