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Segment Information | 6 Months Ended
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Jun. 30, 2015
Segment Reporting [Abstract] |
Segment Information | I. Segment Information – Effective in the second quarter of 2015, management removed the impact of metal price lag from the results of the Global Rolled Products and Engineered Products and Solutions segments in order to enhance the visibility of the underlying operating performance of these businesses. Metal price lag describes the timing difference created when the average price of metal sold differs from the average cost of the metal when purchased by the respective segment. In general, when the price of metal increases, metal price lag is favorable, and when the price of metal decreases, metal price lag is unfavorable. The impact of metal price lag is now reported as a separate line item in Alcoa’s reconciliation of total segment ATOI to consolidated net income (loss) attributable to Alcoa. As a result, this change does not impact the consolidated results of Alcoa. Segment information for all prior periods presented was updated to reflect this change. The operating results of Alcoa’s reportable segments were as follows (differences between segment totals and consolidated totals are in Corporate):
|  | Alumina |  |  | Primary Metals |  |  | Global Rolled Products |  |  | Engineered Products and Solutions |  |  | Total |
Second quarter ended June 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Third-party sales |  | $ | 924 |  |  | $ | 1,534 |  |  | $ | 1,668 |  |  | $ | 1,733 |  |  | $ | 5,859 |
Intersegment sales |  |  | 431 |  |  |  | 562 |  |  |  | 34 |  |  |  | — |  |  |  | 1,027 |
Total sales |  | $ | 1,355 |  |  | $ | 2,096 |  |  | $ | 1,702 |  |  | $ | 1,733 |  |  | $ | 6,886 |
Profit and loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity loss |  | $ | (11 | ) |  | $ | (5 | ) |  | $ | (7 | ) |  | $ | — |  |  | $ | (23 | )
Depreciation, depletion, and amortization |  |  | 77 |  |  |  | 109 |  |  |  | 56 |  |  |  | 64 |  |  |  | 306 |
Income taxes |  |  | 87 |  |  |  | 6 |  |  |  | 25 |  |  |  | 99 |  |  |  | 217 |
After-tax operating income (ATOI) |  |  | 215 |  |  |  | 67 |  |  |  | 76 |  |  |  | 210 |  |  |  | 568 |
Second quarter ended June 30, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Third-party sales |  | $ | 761 |  |  | $ | 1,659 |  |  | $ | 1,860 |  |  | $ | 1,502 |  |  | $ | 5,782 |
Intersegment sales |  |  | 480 |  |  |  | 718 |  |  |  | 44 |  |  |  | — |  |  |  | 1,242 |
Total sales |  | $ | 1,241 |  |  | $ | 2,377 |  |  | $ | 1,904 |  |  | $ | 1,502 |  |  | $ | 7,024 |
Profit and loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity loss |  | $ | (7 | ) |  | $ | (17 | ) |  | $ | (6 | ) |  | $ | — |  |  | $ | (30 | )
Depreciation, depletion, and amortization |  |  | 100 |  |  |  | 129 |  |  |  | 58 |  |  |  | 41 |  |  |  | 328 |
Income taxes |  |  | 12 |  |  |  | 30 |  |  |  | 18 |  |  |  | 101 |  |  |  | 161 |
ATOI |  |  | 38 |  |  |  | 97 |  |  |  | 70 |  |  |  | 202 |  |  |  | 407 |
|  | Alumina |  |  | Primary Metals |  |  | Global Rolled Products |  |  | Engineered Products and Solutions |  |  | Total |
Six months ended June 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Third-party sales |  | $ | 1,811 |  |  | $ | 3,106 |  |  | $ | 3,289 |  |  | $ | 3,422 |  |  | $ | 11,628 |
Intersegment sales |  |  | 932 |  |  |  | 1,254 |  |  |  | 70 |  |  |  | — |  |  |  | 2,256 |
Total sales |  | $ | 2,743 |  |  | $ | 4,360 |  |  | $ | 3,359 |  |  | $ | 3,422 |  |  | $ | 13,884 |
Profit and loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity loss |  | $ | (18 | ) |  | $ | (8 | ) |  | $ | (16 | ) |  | $ | — |  |  | $ | (42 | )
Depreciation, depletion, and amortization |  |  | 157 |  |  |  | 218 |  |  |  | 112 |  |  |  | 124 |  |  |  | 611 |
Income taxes |  |  | 179 |  |  |  | 63 |  |  |  | 61 |  |  |  | 189 |  |  |  | 492 |
ATOI |  |  | 436 |  |  |  | 254 |  |  |  | 130 |  |  |  | 404 |  |  |  | 1,224 |
Six months ended June 30, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Third-party sales |  | $ | 1,606 |  |  | $ | 3,083 |  |  | $ | 3,537 |  |  | $ | 2,945 |  |  | $ | 11,171 |
Intersegment sales |  |  | 990 |  |  |  | 1,452 |  |  |  | 87 |  |  |  | — |  |  |  | 2,529 |
Total sales |  | $ | 2,596 |  |  | $ | 4,535 |  |  | $ | 3,624 |  |  | $ | 2,945 |  |  | $ | 13,700 |
Profit and loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity loss |  | $ | (12 | ) |  | $ | (45 | ) |  | $ | (11 | ) |  | $ | — |  |  | $ | (68 | )
Depreciation, depletion, and amortization |  |  | 197 |  |  |  | 253 |  |  |  | 116 |  |  |  | 81 |  |  |  | 647 |
Income taxes |  |  | 52 |  |  |  | 19 |  |  |  | 47 |  |  |  | 191 |  |  |  | 309 |
ATOI |  |  | 130 |  |  |  | 82 |  |  |  | 124 |  |  |  | 389 |  |  |  | 725 |
The following table reconciles total segment ATOI to consolidated net income (loss) attributable to Alcoa:
|  | Second quarter ended June 30, |  |  | Six months ended June 30, |
|  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
Total segment ATOI |  | $ | 568 |  |  | $ | 407 |  |  | $ | 1,224 |  |  | $ | 725 |
Unallocated amounts (net of tax): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impact of LIFO |  |  | 36 |  |  |  | (8 | ) |  |  | 43 |  |  |  | (15 | )
Metal price lag |  |  | (39 | ) |  |  | 11 |  |  |  | (62 | ) |  |  | 18 |
Interest expense |  |  | (80 | ) |  |  | (69 | ) |  |  | (160 | ) |  |  | (147 | )
Noncontrolling interests |  |  | (67 | ) |  |  | 9 |  |  |  | (127 | ) |  |  | 28 |
Corporate expense |  |  | (66 | ) |  |  | (70 | ) |  |  | (130 | ) |  |  | (137 | )
Restructuring and other charges |  |  | (159 | ) |  |  | (77 | ) |  |  | (320 | ) |  |  | (398 | )
Other |  |  | (53 | ) |  |  | (65 | ) |  |  | (133 | ) |  |  | (114 | )
Consolidated net income (loss) attributable to Alcoa |  | $ | 140 |  |  | $ | 138 |  |  | $ | 335 |  |  | $ | (40 | )
Items required to reconcile total segment ATOI to consolidated net income (loss) attributable to Alcoa include: the impact of LIFO inventory accounting and metal price lag; interest expense; noncontrolling interests; corporate expense (general administrative and selling expenses of operating the corporate headquarters and other global administrative facilities, along with depreciation and amortization on corporate-owned assets); restructuring and other charges; and other items, including intersegment profit eliminations, differences between tax rates applicable to the segments and the consolidated effective tax rate, the results of the soft alloy extrusions business in Brazil, and other nonoperating items such as foreign currency transaction gains/losses and interest income.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
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