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Accumulated Other Comprehensive Loss | 6 Months Ended
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Jun. 30, 2021
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract] |
Accumulated Other Comprehensive Loss | G. Accumulated Other Comprehensive Loss 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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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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