Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2026

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Summary of Changes in Accumulated Other Comprehensive Loss by Component

The following table details the activity of the three components that comprise Accumulated other comprehensive loss for Alcoa Corporation’s shareholders and Noncontrolling interest:


		Alcoa Corporation								Noncontrolling interest
		Second quarter ended June 30,								Second quarter ended June 30,
		2026				2025				2026				2025
Pension and other postretirement benefits (K)
Balance at beginning of period		$	(63	)		$	(6	)		$	—			$	—
Other comprehensive income:
Unrecognized net actuarial gain/loss and prior service cost/benefit			6				1				—				—
Tax (expense) benefit(2)			(1	)			3				—				—
Total Other comprehensive income before reclassifications, net of tax			5				4				—				—
Amortization of net actuarial gain/loss and prior service cost/benefit(1)			9				7				—				—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(5)			9				7				—				—
Total Other comprehensive income			14				11				—				—
Balance at end of period		$	(49	)		$	5			$	—			$	—

Foreign currency translation
Balance at beginning of period		$	(3,639	)		$	(4,040	)		$	8			$	—
Other comprehensive income			7				207				—				10
Balance at end of period		$	(3,632	)		$	(3,833	)		$	8			$	10

Cash flow hedges (L)
Balance at beginning of period		$	(1,179	)		$	(889	)		$	—			$	—
Other comprehensive income (loss):
Net change from periodic revaluations			(58	)			(128	)			—				—
Tax benefit(2)			22				18				—				—
Total Other comprehensive loss before reclassifications, net of tax			(36	)			(110	)			—				—
Net amount reclassified to earnings:
Aluminum contracts(3)			187				78				—				—
Financial contracts(4)			6				2				—				—
Foreign exchange contracts(3)			(3	)			—				—				—
Sub-total			190				80				—				—
Tax expense(2)			(29	)			(17	)			—				—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(5)			161				63				—				—
Total Other comprehensive income (loss)			125				(47	)			—				—
Balance at end of period		$	(1,054	)		$	(936	)		$	—			$	—

Total Accumulated other comprehensive (loss) income		$	(4,735	)		$	(4,764	)		$	8			$	10


		Alcoa Corporation								Noncontrolling interest
		Six months ended June 30,								Six months ended June 30,
		2026				2025				2026				2025
Pension and other postretirement benefits (K)
Balance at beginning of period		$	(74	)		$	(11	)		$	—			$	—
Other comprehensive income:
Unrecognized net actuarial gain/loss and prior service cost/benefit			7				—				—				—
Tax (expense) benefit(2)			(1	)			2				—				—
Total Other comprehensive income before reclassifications, net of tax			6				2				—				—
Amortization of net actuarial gain/loss and prior service cost/benefit(1)			19				14				—				—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(5)			19				14				—				—
Total Other comprehensive income			25				16				—				—
Balance at end of period		$	(49	)		$	5			$	—			$	—

Foreign currency translation
Balance at beginning of period		$	(3,780	)		$	(4,194	)		$	11			$	—
Other comprehensive income (loss)			148				392				(3	)			10
Joint venture formation (C)			—				(31	)			—				—
Balance at end of period		$	(3,632	)		$	(3,833	)		$	8			$	10

Cash flow hedges (L)
Balance at beginning of period		$	(1,335	)		$	(905	)		$	—			$	—
Other comprehensive income (loss):
Net change from periodic revaluations			(16	)			(213	)			—				—
Tax benefit(2)			20				41				—				—
Total Other comprehensive income (loss) before reclassifications, net of tax			4				(172	)			—				—
Net amount reclassified to earnings:
Aluminum contracts(3)			318				171				—				—
Financial contracts(4)			17				2				—				—
Foreign exchange contracts(3)			(4	)			2				—				—
Sub-total			331				175				—				—
Tax expense(2)			(54	)			(34	)			—				—
Total amount reclassified from Accumulated other comprehensive loss, net of tax(5)			277				141				—				—
Total Other comprehensive income (loss)			281				(31	)			—				—
Balance at end of period		$	(1,054	)		$	(936	)		$	—			$	—

Total Accumulated other comprehensive (loss) income		$	(4,735	)		$	(4,764	)		$	8			$	10

(1)

These amounts were included in the computation of net periodic benefit cost for pension and other postretirement benefits (see Note K).

(2)

These amounts were reported in Provision for income taxes on the accompanying Statement of Consolidated Operations.

(3)

These amounts were reported in Sales on the accompanying Statement of Consolidated Operations.

(4)

These amounts were reported in Cost of goods sold on the accompanying Statement of Consolidated Operations.

(5)

A positive amount indicates a corresponding charge to earnings and a negative amount indicates a corresponding benefit to earnings.