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Investments | 6 Months Ended
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Jun. 30, 2021
Equity Method Investments And Joint Ventures [Abstract] |
Investments | H. Investments– A summary of unaudited financial information for Alcoa Corporation’s equity investments is as follows (amounts represent 100% of investee financial information):
Second quarter ended June 30, 2021 |  | Saudi Arabia Joint Venture |  |  | Mining |  |  | Energy |  |  | Other |
Sales |  | $ | 741 |  |  | $ | 197 |  |  | $ | 60 |  |  | $ | 96 |
Cost of goods sold |  |  | 508 |  |  |  | 146 |  |  |  | 32 |  |  |  | 78 |
Net income (loss) |  |  | 102 |  |  |  | 25 |  |  |  | 27 |  |  |  | (4 | )
Equity in net income (loss) of affiliated companies, before reconciling adjustments |  |  | 26 |  |  |  | 9 |  |  |  | 11 |  |  |  | (2 | )
Other |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | 8 |
Alcoa Corporation’s equity in net income of affiliated companies |  |  | 26 |  |  |  | 8 |  |  |  | 11 |  |  |  | 6 |
Second quarter ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales |  | $ | 507 |  |  | $ | 209 |  |  | $ | 47 |  |  | $ | 85 |
Cost of goods sold |  |  | 446 |  |  |  | 130 |  |  |  | 24 |  |  |  | 75 |
Net (loss) income |  |  | (75 | ) |  |  | (5 | ) |  |  | 20 |  |  |  | (6 | )
Equity in net (loss) income of affiliated companies, before reconciling adjustments |  |  | (19 | ) |  |  | 3 |  |  |  | 7 |  |  |  | (3 | )
Other |  |  | (1 | ) |  |  | 2 |  |  |  | 1 |  |  |  | 5 |
Alcoa Corporation’s equity in net (loss) income of affiliated companies |  |  | (20 | ) |  |  | 5 |  |  |  | 8 |  |  |  | 2 |
Six months ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales |  | $ | 1,423 |  |  | $ | 370 |  |  | $ | 115 |  |  | $ | 191 |
Cost of goods sold |  |  | 1,011 |  |  |  | 269 |  |  |  | 57 |  |  |  | 171 |
Net income (loss) |  |  | 147 |  |  |  | 20 |  |  |  | 52 |  |  |  | (6 | )
Equity in net income (loss) of affiliated companies, before reconciling adjustments |  |  | 37 |  |  |  | 10 |  |  |  | 21 |  |  |  | (3 | )
Other |  |  | (4 | ) |  |  | (1 | ) |  |  | — |  |  |  | 11 |
Alcoa Corporation’s equity in net income of affiliated companies |  |  | 33 |  |  |  | 9 |  |  |  | 21 |  |  |  | 8 |
Six months ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales |  | $ | 1,092 |  |  | $ | 427 |  |  | $ | 106 |  |  | $ | 158 |
Cost of goods sold |  |  | 908 |  |  |  | 278 |  |  |  | 50 |  |  |  | 142 |
Net (loss) income |  |  | (88 | ) |  |  | 4 |  |  |  | 47 |  |  |  | (15 | )
Equity in net (loss) income of affiliated companies, before reconciling adjustments |  |  | (22 | ) |  |  | 9 |  |  |  | 18 |  |  |  | (7 | )
Other |  |  | (4 | ) |  |  | (1 | ) |  |  | (1 | ) |  |  | 10 |
Alcoa Corporation’s equity in net (loss) income of affiliated companies |  |  | (26 | ) |  |  | 8 |  |  |  | 17 |  |  |  | 3 |
The Company’s basis in the ElysisTM Limited Partnership, included in Other in the table above, has been reduced to zero for its share of losses incurred to date. As a result, the Company has $40 in unrecognized losses as of June 30, 2021 that will be recognized upon additional contributions into the partnership.

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- References No definition available. + Details
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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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