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Subsequent Events | 6 Months Ended
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Jun. 30, 2016
Subsequent Events [Abstract] |
Subsequent Events | Q. Subsequent Events – Management evaluated all activity of Alcoa and concluded that no subsequent events have occurred that would require recognition in the Consolidated Financial Statements or disclosure in the Notes to the Consolidated Financial Statements, except as described below. On July 21, 2016, Alcoa’s Board of Directors authorized both a reverse stock split of the Company’s common stock at a ratio of one-for-three and a proportionate reduction in the number of authorized shares of Alcoa’s common stock from 1.8 billion to 600 million. Alcoa will hold a special shareholder meeting on October 5, 2016 to seek approval of the reverse stock split and authorized share count reduction, both of which require an affirmative vote of a majority of votes cast by the shareholders entitled to vote. Alcoa is not planning to issue fractional shares as a result of the reverse stock split; therefore, cash payments in lieu of such fractional shares would be made to shareholders, as applicable. The reverse stock split would not change the proportionate equity interests or voting rights of holders of Alcoa’s common stock, subject to the treatment of fractional shares. As of July 22, 2016, 1,315,374,511 shares of Alcoa’s common stock were outstanding.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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