Pension And Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2011

Defined Benefit Plan Disclosure [Line Items]

Schedule Of Obligations And Funded Status


	Pension benefits						Other postretirement benefits
December 31,	2011			2010			2011			2010
Change in benefit obligation
Benefit obligation at beginning of year	$	12,343		$	11,638		$	2,902		$	3,038
Service cost		183			152			17			21
Interest cost		687			691			159			175
Amendments		40			41			(1	)		8
Actuarial losses (gains)		1,163			544			17			(75	)
Settlements		(32	)		(8	)		-			(6	)
Curtailments		(7	)		(10	)		-			-
Benefits paid, net of participants' contributions		(813	)		(799	)		(275	)		(287	)
Medicare Part D subsidy receipts		-			-			25			26
Foreign currency translation impact		(38	)		94			-			2
Benefit obligation at end of year*	$	13,526		$	12,343		$	2,844		$	2,902
Change in plan assets
Fair value of plan assets at beginning of year	$	9,451		$	8,529		$	58		$	111
Actual return on plan assets		783			941			2			8
Employer contributions		945			718			-			-
Participants' contributions		35			30			-			-
Benefits paid		(805	)		(800	)		(52	)		(61	)
Administrative expenses		(38	)		(39	)		-			-
Settlements		(34	)		(8	)		-			-
Foreign currency translation impact		(26	)		80			-			-
Fair value of plan assets at end of year*	$	10,311		$	9,451		$	8		$	58
Funded status*	$	(3,215	)	$	(2,892	)	$	(2,836	)	$	(2,844	)
Less: Amounts attributed to joint venture partners		(34	)		(26	)		(5	)		(5	)
Net funded status	$	(3,181	)	$	(2,866	)	$	(2,831	)	$	(2,839	)
Amounts recognized in the Consolidated Balance Sheet consist of:
Noncurrent assets	$	109		$	84		$	-		$	-
Current liabilities		(29	)		(27	)		(248	)		(224	)
Noncurrent liabilities		(3,261	)		(2,923	)		(2,583	)		(2,615	)
Net amount recognized	$	(3,181	)	$	(2,866	)	$	(2,831	)	$	(2,839	)
Amounts recognized in Accumulated Other Comprehensive Loss consist of:
Net actuarial loss	$	5,191		$	4,221		$	511		$	520
Prior service cost (benefit)		129			106			(92	)		(108	)
Total, before tax effect		5,320			4,327			419			412
Less: Amounts attributed to joint venture partners		46			36			(1	)		-
Net amount recognized, before tax effect	$	5,274		$	4,291		$	420		$	412
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive (Loss) Income consist of:
Net actuarial loss (gain)	$	1,216		$	470		$	17		$	(78	)
Amortization of accumulated net actuarial loss		(246	)		(181	)		(26	)		(33	)
Prior service cost (benefit)		42			42			(1	)		9
Amortization of prior service (cost) benefit		(19	)		(17	)		17			15
Total, before tax effect		993			314			7			(87	)
Less: Amounts attributed to joint venture partners		10			13			(1	)		(2	)
Net amount recognized, before tax effect	$	983		$	301		$	8		$	(85	)

At December 31, 2011, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $10,702, $7,988, and $(2,714), respectively. At December 31, 2010, the benefit obligation, fair value of plan assets, and funded status for U.S. pension plans were $9,791, $7,242, and $(2,549), respectively.

Schedule Of Pension Plan Benefit Obligations


	Pension benefits
	2011		2010
The projected benefit obligation and accumulated benefit obligation for all defined benefit pension plans was as follows:
Projected benefit obligation	$	13,526	$	12,343
Accumulated benefit obligation		13,025		11,999

The aggregate projected benefit obligation and fair value of plan assets for pension plans with projected benefit obligations in excess of plan assets was as follows:
Projected benefit obligation		12,828		11,531
Fair value of plan assets		9,470		8,518

The aggregate accumulated benefit obligation and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets was as follows:
Accumulated benefit obligation		12,184		11,167
Fair value of plan assets		9,281		8,454

Components Of Net Periodic Benefit Cost

	Pension benefits⁽¹⁾									Other postretirement benefits⁽²⁾
	2011			2010			2009			2011			2010			2009
Service cost	$	165		$	148		$	139		$	17		$	20		$	21
Interest cost		678			682			682			158			174			184
Expected return on plan assets		(806	)		(787	)		(758	)		(2	)		(7	)		(11	)
Amortization of prior service cost (benefit)		19			17			16			(17	)		(15	)		(11	)
Recognized net actuarial loss		247			181			111			26			33			41
Settlements⁽³⁾		2			2			14			-			(3	)		-
Curtailments⁽⁴⁾		(9	)		(10	)		3			-			-			(1	)
Net periodic benefit cost⁽⁵⁾	$	296		$	233		$	207		$	182		$	202		$	223

⁽¹⁾	In 2011, 2010, and 2009, net periodic benefit cost for U.S pension plans was $190, $155, and $135, respectively.

⁽²⁾	In 2011, 2010, and 2009, net periodic benefit cost for other postretirement benefits reflects a reduction of $43, $39, and $42, respectively, related to the recognition of the federal subsidy awarded under Medicare Part D.

⁽³⁾	In all periods presented, settlements were due to the payment of significant lump sum benefits and/or purchases of annuity contracts.

⁽⁴⁾	In each period presented, curtailments were due to elimination of benefits, workforce reductions (see Note D), and/or divestitures of the EES business (see Note F).

⁽⁵⁾	Amounts attributed to joint venture partners are not included.

Schedule Of Amounts Expected To Be Recognized In Net Periodic Benefit Cost


	Pension benefits		Other postretirement benefits
	2012		2012
Prior service cost (benefit) recognition	$	18	$	(16	)
Net actuarial loss recognition		388		10

Schedule Of Assumed Health Care Cost Trend Rates


	2011			2010			2009
Health care cost trend rate assumed for next year		6.5	%		6.5	%		6.5	%
Rate to which the cost trend rate gradually declines		5.0	%		5.0	%		5.0	%
Year that the rate reaches the rate at which it is assumed to remain		2016			2015			2014

Schedule Of One-Percentage Point Change In Assumed Rates Of Health Care Cost Trend Rates


	1% increase		1% decrease
Effect on total of service and interest cost components	$	4	$	(4	)
Effect on other postretirement benefit obligations		74		(66	)

Schedule Of Pension And Postretirement Plans Investment Policy And Weighted Average Asset Allocations


				Plan assets at December 31,
Asset class	Policy range			2011			2010
Equity securities		20–55	%		34	%		36	%
Debt securities		30–65	%		50			52
Other		5–25	%		16			12
Total					100	%		100	%

Schedule Of Fair Value Of Pension And Postretirement Plans' Assets


December 31, 2011	Level 1		Level 2		Level 3		Total
Equity securities*	$	941	$	1,166	$	1,383	$	3,490
Debt securities		1,223		3,880		211		5,314
Other investments		295		74		1,166		1,535
Total**	$	2,459	$	5,120	$	2,760	$	10,339

December 31, 2010	Level 1		Level 2		Level 3		Total
Equity securities	$	1,348	$	1,589	$	504	$	3,441
Debt securities		808		3,922		187		4,917
Other investments		268		52		808		1,128
Total**	$	2,424	$	5,563	$	1,499	$	9,486

*	At December 31, 2011, Level 1 equity securities include $36 of Alcoa common stock related to the January 2011 plan contribution (see Funding and Cash Flows section below).

As of December 31, 2011, the total fair value of pension and other postretirement plans' assets excludes a net payable of $20, which represents securities purchased not yet settled less interest and dividends earned on various investments. As of December 31, 2010, the total fair value of pension and other postretirement plans' assets excludes a net receivable of $23, which represents interest and dividends earned on various investments less securities purchased not yet settled.

Schedule Of Reconciliation Of Activity For Investments


	2011			2010
Balance at beginning of year	$	1,499		$	920
Realized gains		67			35
Unrealized gains		100			130
Purchases		1,221			497
Sales		(124	)		(87	)
Issuances		-			-
Settlements		-			-
Foreign currency translation impact		(3	)		4
Transfers in and (or) out of Level 3*		-			-
Balance at end of year	$	2,760		$	1,499

*	In 2011 and 2010, there were no transfers of financial instruments into or out of Level 3

Schedule Of Benefit Payments Expected To Be Paid And Expected Medicare Part D Subsidy Receipts


Year ended December 31,	Pension benefits		Gross Other post- retirement benefits		Medicare Part D subsidy receipts		Net Other post- retirement benefits
2012	$	840	$	285	$	25	$	260
2013		850		285		30		255
2014		850		280		30		250
2015		860		275		35		240
2016		870		270		35		235
2017 through 2021		4,470		1,265		190		1,075
	$	8,740	$	2,660	$	345	$	2,315

Benefit Obligations [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule Of Weighted Average Assumptions Used To Determine Benefit Obligations And Net Periodic Benefit Cost


December 31,	2011			2010
Discount rate		4.90	%		5.75	%
Rate of compensation increase		3.5			3.5

Net Periodic Benefit Cost [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule Of Weighted Average Assumptions Used To Determine Benefit Obligations And Net Periodic Benefit Cost


	2011			2010			2009
Discount rate*		5.75	%		6.15	%		6.40	%
Expected long-term rate of return on plan assets		8.50			8.75			8.75
Rate of compensation increase		3.50			3.50			4.00

In all periods presented, the respective discount rates were used to determine net periodic benefit cost for most U.S. pension plans for the full annual period. However, the discount rates for a limited number of plans were updated during the respective years to reflect the remeasurement of these plans due to new union labor agreements, settlements, and (or) curtailments. The updated discount rates used were not significantly different from the discount rates presented.