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Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended
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Jun. 30, 2021
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract] |
Summary of Changes in Accumulated Other Comprehensive (Loss) Income by Component | The following table details the activity of the three components that comprise Accumulated other comprehensive loss for both Alcoa Corporation’s shareholders and Noncontrolling interest:
|  | Alcoa Corporation |  |  | Noncontrolling interest |
|  | Second quarter ended June 30, |  |  | Second quarter ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Pension and other postretirement benefits (L) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (2,405 | ) |  | $ | (2,244 | ) |  | $ | (66 | ) |  | $ | (56 | )
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrecognized net actuarial loss and prior service cost/benefit |  |  | 164 |  |  |  | (181 | ) |  |  | 2 |  |  |  | 1 |
Tax benefit |  |  | — |  |  |  | 4 |  |  |  | — |  |  |  | — |
Total Other comprehensive income (loss) before reclassifications, net of tax |  |  | 164 |  |  |  | (177 | ) |  |  | 2 |  |  |  | 1 |
Amortization of net actuarial loss and prior service cost/benefit(1) |  |  | 89 |  |  |  | 52 |  |  |  | 1 |  |  |  | 1 |
Tax expense(2) |  |  | — |  |  |  | (2 | ) |  |  | — |  |  |  | — |
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7) |  |  | 89 |  |  |  | 50 |  |  |  | 1 |  |  |  | 1 |
Total Other comprehensive income (loss) |  |  | 253 |  |  |  | (127 | ) |  |  | 3 |  |  |  | 2 |
Balance at end of period |  | $ | (2,152 | ) |  | $ | (2,371 | ) |  | $ | (63 | ) |  | $ | (54 | )
Foreign currency translation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (2,561 | ) |  | $ | (2,823 | ) |  | $ | (904 | ) |  | $ | (1,079 | )
Other comprehensive income(3) |  |  | 204 |  |  |  | 135 |  |  |  | 51 |  |  |  | 94 |
Balance at end of period |  | $ | (2,357 | ) |  | $ | (2,688 | ) |  | $ | (853 | ) |  | $ | (985 | )
Cash flow hedges (M) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (912 | ) |  | $ | 169 |  |  | $ | (4 | ) |  | $ | — |
Other comprehensive (loss) income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net change from periodic revaluations |  |  | (397 | ) |  |  | (513 | ) |  |  | 9 |  |  |  | (4 | )
Tax benefit (expense) |  |  | 75 |  |  |  | 112 |  |  |  | (3 | ) |  |  | 1 |
Total Other comprehensive (loss) income before reclassifications, net of tax |  |  | (322 | ) |  |  | (401 | ) |  |  | 6 |  |  |  | (3 | )
Net amount reclassified to earnings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aluminum contracts(4) |  |  | 72 |  |  |  | 1 |  |  |  | — |  |  |  | — |
Financial contracts(5) |  |  | (4 | ) |  |  | 4 |  |  |  | (2 | ) |  |  | 3 |
Interest rate contracts(6) |  |  | 1 |  |  |  | 1 |  |  |  | — |  |  |  | — |
Foreign exchange contracts(4) |  |  | (2 | ) |  |  | 7 |  |  |  | — |  |  |  | — |
Sub-total |  |  | 67 |  |  |  | 13 |  |  |  | (2 | ) |  |  | 3 |
Tax (expense) benefit(2) |  |  | (11 | ) |  |  | (2 | ) |  |  | 1 |  |  |  | (1 | )
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7) |  |  | 56 |  |  |  | 11 |  |  |  | (1 | ) |  |  | 2 |
Total Other comprehensive (loss) income |  |  | (266 | ) |  |  | (390 | ) |  |  | 5 |  |  |  | (1 | )
Balance at end of period |  | $ | (1,178 | ) |  | $ | (221 | ) |  | $ | 1 |  |  |  | (1 | )
Total Accumulated other comprehensive loss |  | $ | (5,687 | ) |  | $ | (5,280 | ) |  | $ | (915 | ) |  | $ | (1,040 | )
|  | Alcoa Corporation |  |  | Noncontrolling interest |
|  | Six months ended June 30, |  |  | Six months ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Pension and other postretirement benefits (L) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (2,536 | ) |  | $ | (2,282 | ) |  | $ | (67 | ) |  | $ | (56 | )
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrecognized net actuarial loss and prior service cost/benefit |  |  | 233 |  |  |  | (201 | ) |  |  | 2 |  |  |  | — |
Tax benefit |  |  | 2 |  |  |  | 10 |  |  |  | — |  |  |  | — |
Total Other comprehensive income (loss) before reclassifications, net of tax |  |  | 235 |  |  |  | (191 | ) |  |  | 2 |  |  |  | — |
Amortization of net actuarial loss and prior service cost/benefit(1) |  |  | 150 |  |  |  | 106 |  |  |  | 2 |  |  |  | 2 |
Tax expense(2) |  |  | (1 | ) |  |  | (4 | ) |  |  | — |  |  |  | — |
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7) |  |  | 149 |  |  |  | 102 |  |  |  | 2 |  |  |  | 2 |
Total Other comprehensive income (loss) |  |  | 384 |  |  |  | (89 | ) |  |  | 4 |  |  |  | 2 |
Balance at end of period |  | $ | (2,152 | ) |  | $ | (2,371 | ) |  | $ | (63 | ) |  | $ | (54 | )
Foreign currency translation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (2,385 | ) |  | $ | (2,160 | ) |  | $ | (844 | ) |  | $ | (834 | )
Other comprehensive income (loss)(3) |  |  | 28 |  |  |  | (528 | ) |  |  | (9 | ) |  |  | (151 | )
Balance at end of period |  | $ | (2,357 | ) |  | $ | (2,688 | ) |  | $ | (853 | ) |  | $ | (985 | )
Cash flow hedges (M) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (708 | ) |  | $ | (532 | ) |  | $ | (1 | ) |  | $ | 20 |
Other comprehensive (loss) income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net change from periodic revaluations |  |  | (700 | ) |  |  | 339 |  |  |  | (1 | ) |  |  | (30 | )
Tax benefit (expense) |  |  | 131 |  |  |  | (63 | ) |  |  | — |  |  |  | 8 |
Total Other comprehensive (loss) income before reclassifications, net of tax |  |  | (569 | ) |  |  | 276 |  |  |  | (1 | ) |  |  | (22 | )
Net amount reclassified to earnings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aluminum contracts(4) |  |  | 113 |  |  |  | 14 |  |  |  | — |  |  |  | — |
Financial contracts(5) |  |  | 5 |  |  |  | 7 |  |  |  | 4 |  |  |  | 1 |
Interest rate contracts(6) |  |  | 4 |  |  |  | 2 |  |  |  | — |  |  |  | — |
Foreign exchange contracts(4) |  |  | (3 | ) |  |  | 15 |  |  |  | — |  |  |  | — |
Sub-total |  |  | 119 |  |  |  | 38 |  |  |  | 4 |  |  |  | 1 |
Tax (expense) benefit(2) |  |  | (20 | ) |  |  | (3 | ) |  |  | (1 | ) |  |  | — |
Total amount reclassified from Accumulated other comprehensive loss, net of tax(7) |  |  | 99 |  |  |  | 35 |  |  |  | 3 |  |  |  | 1 |
Total Other comprehensive (loss) income |  |  | (470 | ) |  |  | 311 |  |  |  | 2 |  |  |  | (21 | )
Balance at end of period |  | $ | (1,178 | ) |  | $ | (221 | ) |  | $ | 1 |  |  | $ | (1 | )
Total Accumulated other comprehensive loss |  | $ | (5,687 | ) |  | $ | (5,280 | ) |  | $ | (915 | ) |  | $ | (1,040 | )
(1) | These amounts were included in the computation of net periodic benefit cost for pension and other postretirement benefits (see Note L).
(2) | These amounts were reported in Provision for income taxes on the accompanying Statement of Consolidated Operations.
(3) | In all periods presented, there were no tax impacts related to rate changes and no amounts were reclassified to earnings.
(4) | These amounts were primarily reported in Sales on the accompanying Statement of Consolidated Operations.
(5) | These amounts were reported in Cost of goods sold on the accompanying Statement of Consolidated Operations.
(6) | These amounts were reported in Other (income) expenses, net of the accompanying Statement of Consolidated Operations.
(7) | A positive amount indicates a corresponding charge to earnings and a negative amount indicates a corresponding benefit to earnings.

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