$AA
Alcoa Corp

2019 Q3 Form 10-Q Financial Statement

#000156459019039149 Filed on October 31, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3
Revenue $2.567B $3.390B
YoY Change -24.28% 14.37%
Cost Of Revenue $2.120B $2.534B
YoY Change -16.34% 8.29%
Gross Profit $447.0M $856.0M
YoY Change -47.78% 37.18%
Gross Profit Margin 17.41% 25.25%
Selling, General & Admin $66.00M $58.00M
YoY Change 13.79% -17.14%
% of Gross Profit 14.77% 6.78%
Research & Development $7.000M $7.000M
YoY Change 0.0% -12.5%
% of Gross Profit 1.57% 0.82%
Depreciation & Amortization $184.0M $173.0M
YoY Change 6.36% -10.82%
% of Gross Profit 41.16% 20.21%
Operating Expenses $257.0M $65.00M
YoY Change 295.38% -16.67%
Operating Profit $190.0M $791.0M
YoY Change -75.98% 44.87%
Interest Expense -$36.00M $33.00M
YoY Change -209.09% 26.92%
% of Operating Profit -18.95% 4.17%
Other Income/Expense, Net -$27.00M -$2.000M
YoY Change 1250.0% -95.83%
Pretax Income -$52.00M $455.0M
YoY Change -111.43% 57.99%
Income Tax $95.00M $260.0M
% Of Pretax Income 57.14%
Net Earnings -$221.0M -$6.000M
YoY Change 3583.33% -105.31%
Net Earnings / Revenue -8.61% -0.18%
Basic Earnings Per Share -$1.19 -$0.03
Diluted Earnings Per Share -$1.19 -$0.03
COMMON SHARES
Basic Shares Outstanding 186.0M 186.0M
Diluted Shares Outstanding 186.0M 186.0M

Balance Sheet

Concept 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $841.0M $1.022B
YoY Change -17.71% -8.67%
Cash & Equivalents $844.0M $1.022B
Short-Term Investments
Other Short-Term Assets $329.0M $312.0M
YoY Change 5.45% -5.17%
Inventory $1.649B $1.666B
Prepaid Expenses
Receivables $596.0M $1.017B
Other Receivables $228.0M $176.0M
Total Short-Term Assets $3.643B $4.193B
YoY Change -13.12% 10.23%
LONG-TERM ASSETS
Property, Plant & Equipment $7.929B $8.355B
YoY Change -5.1% -9.99%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.114B $1.381B
YoY Change -19.33% -1.92%
Other Assets $1.984B $1.615B
YoY Change 22.85% -7.45%
Total Long-Term Assets $11.03B $11.99B
YoY Change -8.05% -10.84%
TOTAL ASSETS
Total Short-Term Assets $3.643B $4.193B
Total Long-Term Assets $11.03B $11.99B
Total Assets $14.67B $16.19B
YoY Change -9.36% -6.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.418B $1.711B
YoY Change -17.12% 5.75%
Accrued Expenses $466.0M $420.0M
YoY Change 10.95% -6.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.000M $4.000M
YoY Change -75.0% -76.47%
Total Short-Term Liabilities $2.455B $3.004B
YoY Change -18.28% 8.6%
LONG-TERM LIABILITIES
Long-Term Debt $1.805B $1.820B
YoY Change -0.82% 31.5%
Other Long-Term Liabilities $3.701B $3.779B
YoY Change -2.06% -19.04%
Total Long-Term Liabilities $5.506B $5.599B
YoY Change -1.66% -7.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.455B $3.004B
Total Long-Term Liabilities $5.506B $5.599B
Total Liabilities $10.13B $8.900B
YoY Change 13.83% -2.58%
SHAREHOLDERS EQUITY
Retained Earnings -$252.0M $298.0M
YoY Change -184.56% -3.56%
Common Stock $9.658B
YoY Change 0.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.539B $5.216B
YoY Change
Total Liabilities & Shareholders Equity $14.67B $16.19B
YoY Change -9.36% -6.2%

Cashflow Statement

Concept 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$221.0M -$6.000M
YoY Change 3583.33% -105.31%
Depreciation, Depletion And Amortization $184.0M $173.0M
YoY Change 6.36% -10.82%
Cash From Operating Activities $174.0M $288.0M
YoY Change -39.58% -25.0%
INVESTING ACTIVITIES
Capital Expenditures -$87.00M -$82.00M
YoY Change 6.1% -14.58%
Acquisitions
YoY Change
Other Investing Activities $11.00M -$1.000M
YoY Change -1200.0% -87.5%
Cash From Investing Activities -$76.00M -$83.00M
YoY Change -8.43% -20.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -81.00M -280.0M
YoY Change -71.07% 143.48%
NET CHANGE
Cash From Operating Activities 174.0M 288.0M
Cash From Investing Activities -76.00M -83.00M
Cash From Financing Activities -81.00M -280.0M
Net Change In Cash 17.00M -75.00M
YoY Change -122.67% -145.45%
FREE CASH FLOW
Cash From Operating Activities $174.0M $288.0M
Capital Expenditures -$87.00M -$82.00M
Free Cash Flow $261.0M $370.0M
YoY Change -29.46% -22.92%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2018Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2019Q3 aa Restructuring And Other Charges
RestructuringAndOtherCharges
185000000
CY2019Q2 aa Collective Bargaining Agreement Term
CollectiveBargainingAgreementTerm
P6Y
CY2018Q3 aa Restructuring And Other Charges
RestructuringAndOtherCharges
177000000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Noncontrolling Interest
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxNoncontrollingInterest
-25000000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
321000000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
442000000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-237000000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
205000000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
641000000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
230000000
us-gaap Pension Contributions
PensionContributions
940000000
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
320000000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
13480000000
CY2018Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
426000000
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
347000000
CY2018Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
1000000
CY2018Q4 us-gaap Liabilities Current
LiabilitiesCurrent
2919000000
CY2018Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1801000000
CY2018Q4 us-gaap Inventory Net
InventoryNet
1819000000
CY2018Q4 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
73000000
CY2018Q4 us-gaap Assets Current
AssetsCurrent
4328000000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
21807000000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8327000000
CY2018Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
1360000000
CY2018Q4 us-gaap Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
82000000
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
400000000
CY2018Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
82000000
CY2018Q4 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
1407000000
CY2018Q4 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
868000000
CY2018Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
529000000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1113000000
CY2018Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
830000000
CY2018Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
173000000
us-gaap Profit Loss
ProfitLoss
666000000
CY2018Q4 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
301000000
CY2018Q4 us-gaap Deferred Credits And Other Liabilities Noncurrent
DeferredCreditsAndOtherLiabilitiesNoncurrent
222000000
CY2018Q4 us-gaap Liabilities
Liabilities
8544000000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
570000000
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-4565000000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
5618000000
CY2018Q4 us-gaap Minority Interest
MinorityInterest
1970000000
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7588000000
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
16132000000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-16000000
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
11000000
aa Restructuring And Other Charges
RestructuringAndOtherCharges
389000000
CY2018Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
261000000
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
530000000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
871000000
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1475000000
CY2018Q4 us-gaap Assets
Assets
16132000000
CY2018Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1663000000
CY2018Q4 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
236000000
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
559000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-339000000
CY2018Q3 us-gaap Stockholders Equity Other
StockholdersEquityOther
-11000000
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6859000000
CY2019Q3 us-gaap Profit Loss
ProfitLoss
-147000000
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
8000000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
89000000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-58000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-87000000
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
41000000
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
388000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-257000000
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
844000000
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
566000000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-6000000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1000000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1365000000
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1026000000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-288000000
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
248000000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-8000000
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6410000000
CY2019Q3 aa Minority Interest Increase Decrease From Capital Contribution From Noncontrolling Interest Holders
MinorityInterestIncreaseDecreaseFromCapitalContributionFromNoncontrollingInterestHolders
20000000
CY2019Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
102000000
CY2019Q3 us-gaap Stockholders Equity Other
StockholdersEquityOther
1000000
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6968000000
us-gaap Profit Loss
ProfitLoss
666000000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
205000000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
29000000
aa Minority Interest Increase Decrease From Capital Contribution From Noncontrolling Interest Holders
MinorityInterestIncreaseDecreaseFromCapitalContributionFromNoncontrollingInterestHolders
109000000
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
566000000
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
109000000
us-gaap Stockholders Equity Other
StockholdersEquityOther
-28000000
CY2019Q2 aa Period To Improve Financial Position Of Target Benifit Plan
PeriodToImproveFinancialPositionOfTargetBenifitPlan
P3Y
CY2019Q3 aa Collective Bargaining Agreement Term
CollectiveBargainingAgreementTerm
P6Y
CY2019Q3 aa Period To Improve Financial Position Of Target Benifit Plan
PeriodToImproveFinancialPositionOfTargetBenifitPlan
P5Y
CY2019Q3 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
us-gaap:PropertyPlantAndEquipmentNet
CY2019Q3 us-gaap Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
us-gaap:OtherLiabilitiesCurrent
CY2019Q3 us-gaap Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List
OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
us-gaap:DeferredCreditsAndOtherLiabilitiesNoncurrent
CY2019Q3 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
560000000
CY2018Q4 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
560000000
CY2018Q4 us-gaap Common Stock Value
CommonStockValue
2000000
CY2018Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
9611000000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
553000000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
105000000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
23000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-351000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6000000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
245000000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
251000000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
23000000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
112000000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
6000000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-11000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-272000000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1116000000
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7245000000
CY2018Q3 us-gaap Profit Loss
ProfitLoss
195000000
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
182000000
CY2018Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
9000000
CY2018Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1000000
CY2018Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
181000000
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-228000000
CY2019Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1000000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
23000000
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7462000000
us-gaap Basis Of Accounting
BasisOfAccounting
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">A.<span style="font-weight:normal;"> </span>Basis of Presentation <span style="font-weight:normal;">– The interim Consolidated Financial Statements of Alcoa Corporation and its subsidiaries (Alcoa Corporation or the Company) are unaudited. These Consolidated Financial Statements include all adjustments, consisting only of normal recurring adjustments, considered necessary by management to fairly state the Company’s results of operations, financial position, and cash flows. The results reported in these Consolidated Financial Statements are not necessarily indicative of the results that may be expected for the entire year. The 2018 year-end balance sheet data was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America (GAAP). This Quarterly Report on Form 10-Q should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, which includes all disclosures required by GAAP.</span></p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">References in these Notes to ParentCo refer to Alcoa Inc., a Pennsylvania corporation, and its consolidated subsidiaries through October 31, 2016, at which time it was renamed Arconic Inc. (Arconic). On November 1, 2016 (the Separation Date), ParentCo separated into two standalone, publicly-traded companies, Alcoa Corporation and Arconic (the Separation Transaction). In connection with the Separation Transaction, as of October 31, 2016, the Company and Arconic entered into several agreements to effect the Separation Transaction, including a Separation and Distribution Agreement and a Tax Matters Agreement. See Note A to the Consolidated Financial Statements in Part II Item 8 of Alcoa Corporation’s Annual Report on Form 10-K for the year ended December 31, 2018 for additional information. </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of January 1, 2019, the Company changed its accounting method for valuing certain inventories from last-in, first-out (LIFO) to average cost. The effects of the change in accounting principle have been retrospectively applied to all prior periods presented. See Note H for more information regarding the change in inventory accounting method. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Principles of Consolidation.<span style="font-weight:normal;"> The Consolidated Financial Statements of Alcoa Corporation include the accounts of Alcoa Corporation and companies in which Alcoa Corporation has a controlling interest, including those that comprise the Alcoa World Alumina &amp; Chemicals (AWAC) joint venture (see below). Intercompany transactions have been eliminated. The equity method of accounting is used for investments in affiliates and other joint ventures over which Alcoa Corporation has significant influence but does not have effective control. Investments in affiliates in which Alcoa Corporation cannot exercise significant influence are accounted for on the cost method. </span></p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">AWAC is an unincorporated global joint venture between Alcoa Corporation and Alumina Limited and consists of several affiliated operating entities, which own, or have an interest in, or operate the bauxite mines and alumina refineries within Alcoa Corporation’s Bauxite and Alumina segments (except for the Poços de Caldas mine and refinery and a portion of the São Luís refinery, all in Brazil) and the Portland smelter in Australia within Alcoa Corporation’s Aluminum segment. Alcoa Corporation owns 60% and Alumina Limited owns 40% of these individual entities, which are consolidated by the Company for financial reporting purposes and include Alcoa of Australia Limited, Alcoa World Alumina LLC (AWA), and Alcoa World Alumina Brasil Ltda. (AWAB). Alumina Limited’s interest in the equity of such entities is reflected as Noncontrolling interest on the accompanying Consolidated Balance Sheet. </p>
aa Restructuring And Other Charges
RestructuringAndOtherCharges
389000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-334000000
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
201000000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
201000000
CY2019Q3 aa Restructuring And Other Charges
RestructuringAndOtherCharges
185000000
aa Restructuring And Other Charges
RestructuringAndOtherCharges
668000000
CY2019Q3 us-gaap Severance Costs1
SeveranceCosts1
37000000
us-gaap Severance Costs1
SeveranceCosts1
37000000
CY2019Q3 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
5000000
us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
5000000
us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Curtailments
DefinedBenefitPlanRecognizedNetGainLossDueToCurtailments
38000000
CY2019Q1 aa Combined Operating Capacity
CombinedOperatingCapacity
124
CY2018Q3 aa Restructuring And Other Charges
RestructuringAndOtherCharges
177000000
CY2018Q3 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements And Curtailments1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1
174000000
us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements And Curtailments1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1
318000000
CY2019Q3 aa Restructuring And Other Charges
RestructuringAndOtherCharges
185000000
CY2018Q3 aa Restructuring And Other Charges
RestructuringAndOtherCharges
177000000
aa Restructuring And Other Charges
RestructuringAndOtherCharges
668000000
aa Restructuring And Other Charges
RestructuringAndOtherCharges
389000000
CY2017Q4 us-gaap Restructuring Reserve
RestructuringReserve
45000000
CY2018 aa Restructuring And Other Charges Net
RestructuringAndOtherChargesNet
119000000
CY2018 us-gaap Payments For Restructuring
PaymentsForRestructuring
102000000
CY2018 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
15000000
CY2018Q4 us-gaap Restructuring Reserve
RestructuringReserve
47000000
aa Restructuring And Other Charges Net
RestructuringAndOtherChargesNet
212000000
us-gaap Payments For Restructuring
PaymentsForRestructuring
93000000
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
11000000
CY2019Q3 us-gaap Restructuring Reserve
RestructuringReserve
155000000
CY2019Q3 us-gaap Restructuring Reserve Noncurrent
RestructuringReserveNoncurrent
19000000
CY2019Q3 aa Adjusted Ebitda
AdjustedEbitda
400000000
CY2019Q3 aa Segment Reporting Information Depreciation Depletion And Amortization Expenses
SegmentReportingInformationDepreciationDepletionAndAmortizationExpenses
177000000
CY2019Q3 aa Segment Reporting Information Equity In Net Income Of Equity Method Investees Of Segments
SegmentReportingInformationEquityInNetIncomeOfEquityMethodInvesteesOfSegments
-5000000
CY2018Q3 aa Adjusted Ebitda
AdjustedEbitda
850000000
CY2018Q3 aa Segment Reporting Information Depreciation Depletion And Amortization Expenses
SegmentReportingInformationDepreciationDepletionAndAmortizationExpenses
166000000
CY2018Q3 aa Segment Reporting Information Equity In Net Income Of Equity Method Investees Of Segments
SegmentReportingInformationEquityInNetIncomeOfEquityMethodInvesteesOfSegments
5000000
aa Adjusted Ebitda
AdjustedEbitda
1286000000
aa Segment Reporting Information Depreciation Depletion And Amortization Expenses
SegmentReportingInformationDepreciationDepletionAndAmortizationExpenses
509000000
aa Segment Reporting Information Equity In Net Income Of Equity Method Investees Of Segments
SegmentReportingInformationEquityInNetIncomeOfEquityMethodInvesteesOfSegments
-29000000
aa Adjusted Ebitda
AdjustedEbitda
2507000000
aa Segment Reporting Information Depreciation Depletion And Amortization Expenses
SegmentReportingInformationDepreciationDepletionAndAmortizationExpenses
538000000
aa Segment Reporting Information Equity In Net Income Of Equity Method Investees Of Segments
SegmentReportingInformationEquityInNetIncomeOfEquityMethodInvesteesOfSegments
10000000
CY2019Q3 aa Adjusted Ebitda
AdjustedEbitda
400000000
aa Adjusted Ebitda
AdjustedEbitda
1286000000
CY2019Q3 aa Segment Reporting Information Corporate Expenses
SegmentReportingInformationCorporateExpenses
27000000
aa Segment Reporting Information Intersegment Eliminations
SegmentReportingInformationIntersegmentEliminations
-55000000
aa Adjusted Ebitda
AdjustedEbitda
2507000000
CY2019Q3 aa Segment Reporting Information Transformation
SegmentReportingInformationTransformation
6000000
CY2018Q3 aa Segment Reporting Information Transformation
SegmentReportingInformationTransformation
-1000000
aa Segment Reporting Information Transformation
SegmentReportingInformationTransformation
1000000
aa Segment Reporting Information Transformation
SegmentReportingInformationTransformation
2000000
CY2019Q3 aa Segment Reporting Information Intersegment Eliminations
SegmentReportingInformationIntersegmentEliminations
25000000
CY2018Q3 aa Segment Reporting Information Intersegment Eliminations
SegmentReportingInformationIntersegmentEliminations
21000000
aa Segment Reporting Information Intersegment Eliminations
SegmentReportingInformationIntersegmentEliminations
110000000
CY2018Q3 aa Segment Reporting Information Corporate Expenses
SegmentReportingInformationCorporateExpenses
22000000
aa Segment Reporting Information Corporate Expenses
SegmentReportingInformationCorporateExpenses
79000000
aa Segment Reporting Information Corporate Expenses
SegmentReportingInformationCorporateExpenses
75000000
CY2019Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
184000000
CY2018Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
173000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
530000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
559000000
CY2019Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-27000000
CY2018Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2000000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-118000000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-32000000
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-52000000
CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
455000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-137000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1235000000
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
95000000
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
260000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
361000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
569000000
CY2019Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
74000000
CY2018Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
201000000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
324000000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
467000000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-221000000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-6000000
us-gaap Net Income Loss
NetIncomeLoss
-822000000
us-gaap Net Income Loss
NetIncomeLoss
199000000
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2567000000
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3390000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7997000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10059000000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-221000000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-6000000
us-gaap Net Income Loss
NetIncomeLoss
-822000000
us-gaap Net Income Loss
NetIncomeLoss
199000000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
186000000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
186000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
185000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
186000000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
2000000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
186000000
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
186000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
185000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
189000000
CY2019Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
427000000
CY2019Q3 us-gaap Derivative Number Of Instruments Held
DerivativeNumberOfInstrumentsHeld
1
CY2018Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
289000000
CY2019Q3 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
1051000000
CY2018Q3 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
1343000000
us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
3474000000
us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
3963000000
CY2019Q3 us-gaap Equity Method Investment Summarized Financial Information Cost Of Sales
EquityMethodInvestmentSummarizedFinancialInformationCostOfSales
809000000
CY2018Q3 us-gaap Equity Method Investment Summarized Financial Information Cost Of Sales
EquityMethodInvestmentSummarizedFinancialInformationCostOfSales
1062000000
us-gaap Equity Method Investment Summarized Financial Information Cost Of Sales
EquityMethodInvestmentSummarizedFinancialInformationCostOfSales
2789000000
us-gaap Equity Method Investment Summarized Financial Information Cost Of Sales
EquityMethodInvestmentSummarizedFinancialInformationCostOfSales
3100000000
CY2019Q3 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
4000000
CY2018Q3 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
46000000
us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
-73000000
us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
143000000
CY2019Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
282000000
CY2018Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
346000000
CY2019Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
276000000
CY2018Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
189000000
CY2019Q3 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
493000000
CY2018Q4 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
609000000
CY2019Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
447000000
CY2018Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
529000000
CY2019Q3 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
151000000
CY2018Q4 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
146000000
CY2019Q3 us-gaap Inventory Net
InventoryNet
1649000000
CY2018Q4 us-gaap Inventory Net
InventoryNet
1819000000
CY2018Q3 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
2485000000
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
260000000
CY2018Q3 us-gaap Profit Loss
ProfitLoss
195000000
CY2018Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
201000000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-6000000
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.06
CY2018Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
377000000
CY2018Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
156000000
CY2018Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
221000000
us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
7540000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
569000000
us-gaap Profit Loss
ProfitLoss
666000000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
467000000
us-gaap Net Income Loss
NetIncomeLoss
199000000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.07
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
871000000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
230000000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
641000000
CY2018Q4 us-gaap Inventory Net
InventoryNet
1819000000
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
320000000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
570000000
CY2018Q4 us-gaap Minority Interest
MinorityInterest
1970000000
us-gaap Profit Loss
ProfitLoss
666000000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-16000000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
286000000
CY2019Q3 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
2120000000
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
95000000
CY2019Q3 us-gaap Profit Loss
ProfitLoss
-147000000
CY2019Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
74000000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-221000000
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.19
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.19
CY2019Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-375000000
CY2019Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-10000000
CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-365000000
us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
6489000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
361000000
us-gaap Profit Loss
ProfitLoss
-498000000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
324000000
us-gaap Net Income Loss
NetIncomeLoss
-822000000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.43
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.43
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-856000000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
250000000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1106000000
CY2019Q3 us-gaap Inventory Net
InventoryNet
1649000000
CY2019Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
245000000
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-252000000
CY2019Q3 us-gaap Minority Interest
MinorityInterest
1871000000
us-gaap Profit Loss
ProfitLoss
-498000000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
59000000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-111000000
CY2019Q2 aa Defined Benefit Plan Number Of Employees
DefinedBenefitPlanNumberOfEmployees
700
CY2019Q2 aa Defined Benefit Plan Employers Contribution Percentage On Annual Basis
DefinedBenefitPlanEmployersContributionPercentageOnAnnualBasis
0.12
CY2019Q2 aa Defined Benefit Plan Employer Discretionary Contribution Amount
DefinedBenefitPlanEmployerDiscretionaryContributionAmount
2000000
CY2019Q3 aa Defined Benefit Plan Number Of Employees
DefinedBenefitPlanNumberOfEmployees
900
CY2019Q3 aa Defined Benefit Plan Employers Contribution Percentage On Annual Basis
DefinedBenefitPlanEmployersContributionPercentageOnAnnualBasis
0.12
CY2019Q3 aa Defined Benefit Plan Employer Discretionary Contribution Amount
DefinedBenefitPlanEmployerDiscretionaryContributionAmount
2000000
CY2019Q3 us-gaap Derivative Assets
DerivativeAssets
119000000
CY2018Q4 us-gaap Derivative Assets
DerivativeAssets
153000000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
aa Income Tax Expense Benefits On Losses Valuation Reserves
IncomeTaxExpenseBenefitsOnLossesValuationReserves
0
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-137000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1235000000
aa Estimated Annualized Effective Tax Rate
EstimatedAnnualizedEffectiveTaxRate
-6.862
aa Estimated Annualized Effective Tax Rate
EstimatedAnnualizedEffectiveTaxRate
0.436
aa Pre Tax Income Expense Benefit
PreTaxIncomeExpenseBenefit
942000000
aa Pre Tax Income Expense Benefit
PreTaxIncomeExpenseBenefit
538000000
aa Unfavorable Favorable Impact Income Tax Expense Benefit
UnfavorableFavorableImpactIncomeTaxExpenseBenefit
-590000000
aa Unfavorable Favorable Impact Income Tax Expense Benefit
UnfavorableFavorableImpactIncomeTaxExpenseBenefit
5000000
aa Discrete Tax Charge
DiscreteTaxCharge
9000000
aa Discrete Tax Charge
DiscreteTaxCharge
26000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
361000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
569000000
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
201000000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
201000000
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
21000000
CY2019Q3 us-gaap Variable Lease Cost
VariableLeaseCost
4000000
us-gaap Operating Lease Cost
OperatingLeaseCost
60000000
us-gaap Variable Lease Cost
VariableLeaseCost
12000000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
4000000
CY2019Q3 us-gaap Lease Cost
LeaseCost
4000000
us-gaap Lease Cost
LeaseCost
11000000
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
158000000
CY2019Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
62000000
CY2019Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
96000000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
158000000
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y1M6D
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.053
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
21000000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
68000000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
51000000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
19000000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
10000000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
21000000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
190000000
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
32000000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
158000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
74000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
56000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
42000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
11000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
5000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
21000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
209000000
CY2017Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
294000000
CY2018 us-gaap Accrual For Environmental Loss Contingencies Charges To Expense For New Losses
AccrualForEnvironmentalLossContingenciesChargesToExpenseForNewLosses
19000000
CY2018 us-gaap Accrual For Environmental Loss Contingencies Payments1
AccrualForEnvironmentalLossContingenciesPayments1
25000000
CY2018 us-gaap Accrual For Environmental Loss Contingencies Increase Decrease For Revision In Estimates
AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForRevisionInEstimates
-3000000
CY2018 aa Accrual For Environmental Loss Contingencies Foreign Currency Translation Gain Loss And Other
AccrualForEnvironmentalLossContingenciesForeignCurrencyTranslationGainLossAndOther
-5000000
CY2018Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
280000000
us-gaap Accrual For Environmental Loss Contingencies Charges To Expense For New Losses
AccrualForEnvironmentalLossContingenciesChargesToExpenseForNewLosses
4000000
us-gaap Accrual For Environmental Loss Contingencies Period Increase Decrease
AccrualForEnvironmentalLossContingenciesPeriodIncreaseDecrease
15000000
us-gaap Accrual For Environmental Loss Contingencies Payments1
AccrualForEnvironmentalLossContingenciesPayments1
12000000
us-gaap Accrual For Environmental Loss Contingencies Increase Decrease For Revision In Estimates
AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForRevisionInEstimates
-1000000
aa Accrual For Environmental Loss Contingencies Foreign Currency Translation Gain Loss And Other
AccrualForEnvironmentalLossContingenciesForeignCurrencyTranslationGainLossAndOther
-2000000
CY2019Q3 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
269000000
CY2019Q3 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
31000000
CY2018Q4 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
44000000
CY2019Q3 us-gaap Accrual For Environmental Loss Contingencies Charges To Expense For New Losses
AccrualForEnvironmentalLossContingenciesChargesToExpenseForNewLosses
2000000
us-gaap Accrual For Environmental Loss Contingencies Charges To Expense For New Losses
AccrualForEnvironmentalLossContingenciesChargesToExpenseForNewLosses
4000000
CY2019Q3 aa Accrual For Environmental Loss Contingencies Charges
AccrualForEnvironmentalLossContingenciesCharges
2000000
aa Accrual For Environmental Loss Contingencies Charges
AccrualForEnvironmentalLossContingenciesCharges
12000000
CY2019Q3 us-gaap Translation Adjustment Functional To Reporting Currency Increase Decrease Gross Of Tax
TranslationAdjustmentFunctionalToReportingCurrencyIncreaseDecreaseGrossOfTax
2000000
us-gaap Translation Adjustment Functional To Reporting Currency Increase Decrease Gross Of Tax
TranslationAdjustmentFunctionalToReportingCurrencyIncreaseDecreaseGrossOfTax
2000000
CY2018Q3 aa Accrual For Environmental Loss Contingencies Charges
AccrualForEnvironmentalLossContingenciesCharges
5000000
aa Accrual For Environmental Loss Contingencies Charges
AccrualForEnvironmentalLossContingenciesCharges
19000000
CY2018Q3 us-gaap Translation Adjustment Functional To Reporting Currency Increase Decrease Gross Of Tax
TranslationAdjustmentFunctionalToReportingCurrencyIncreaseDecreaseGrossOfTax
1000000
us-gaap Translation Adjustment Functional To Reporting Currency Increase Decrease Gross Of Tax
TranslationAdjustmentFunctionalToReportingCurrencyIncreaseDecreaseGrossOfTax
6000000
aa Reclassification Of Amounts Included In Asset Retirement Obligations
ReclassificationOfAmountsIncludedInAssetRetirementObligations
1000000
CY2019Q3 us-gaap Accrual For Environmental Loss Contingencies Undiscounted Due In Remainder Of Fiscal Year
AccrualForEnvironmentalLossContingenciesUndiscountedDueInRemainderOfFiscalYear
8000000
CY2019Q3 aa Accrual For Environmental Loss Contingencies Undiscounted Two To Five Year
AccrualForEnvironmentalLossContingenciesUndiscountedTwoToFiveYear
146000000
CY2019Q3 us-gaap Accrual For Environmental Loss Contingencies Undiscounted Due After Fifth Year
AccrualForEnvironmentalLossContingenciesUndiscountedDueAfterFifthYear
115000000
CY2019Q3 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
269000000
CY2019Q3 aa Accrual Environmental Loss Active Remediation Future Remediation For Significant Individual Sites
AccrualEnvironmentalLossActiveRemediationFutureRemediationForSignificantIndividualSites
207000000
CY2018Q4 aa Accrual Environmental Loss Active Remediation Future Remediation For Significant Individual Sites
AccrualEnvironmentalLossActiveRemediationFutureRemediationForSignificantIndividualSites
214000000
CY2019Q3 aa Income Loss From Equity Method Investments Nonoperating
IncomeLossFromEquityMethodInvestmentsNonoperating
-7000000
CY2018Q3 aa Income Loss From Equity Method Investments Nonoperating
IncomeLossFromEquityMethodInvestmentsNonoperating
1000000
aa Income Loss From Equity Method Investments Nonoperating
IncomeLossFromEquityMethodInvestmentsNonoperating
-34000000
aa Income Loss From Equity Method Investments Nonoperating
IncomeLossFromEquityMethodInvestmentsNonoperating
2000000
CY2019Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
1000000
CY2018Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
22000000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-16000000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
49000000
CY2019Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
5000000
CY2018Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-3000000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
6000000
CY2018Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
8000000
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
19000000
CY2019Q3 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
30000000
CY2018Q3 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
32000000
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
89000000
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
109000000
CY2019Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4000000
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2000000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
15000000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
7000000
CY2019Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-27000000
CY2018Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2000000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-118000000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-32000000

Files In Submission

Name View Source Status
0001564590-19-039149-index-headers.html Edgar Link pending
0001564590-19-039149-index.html Edgar Link pending
0001564590-19-039149.txt Edgar Link pending
0001564590-19-039149-xbrl.zip Edgar Link pending
aa-10q_20190930.htm Edgar Link pending
aa-10q_20190930_htm.xml Edgar Link completed
aa-20190930.xsd Edgar Link pending
aa-20190930_cal.xml Edgar Link unprocessable
aa-20190930_def.xml Edgar Link unprocessable
aa-20190930_lab.xml Edgar Link unprocessable
aa-20190930_pre.xml Edgar Link unprocessable
aa-ex101_45.htm Edgar Link pending
aa-ex102_44.htm Edgar Link pending
aa-ex103_43.htm Edgar Link pending
aa-ex104_42.htm Edgar Link pending
aa-ex105_41.htm Edgar Link pending
aa-ex106_226.htm Edgar Link pending
aa-ex107_225.htm Edgar Link pending
aa-ex311_12.htm Edgar Link pending
aa-ex312_11.htm Edgar Link pending
aa-ex321_14.htm Edgar Link pending
aa-ex322_13.htm Edgar Link pending
aa-ex951_7.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending