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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2014	Oct. 17, 2014
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q3
Trading Symbol	AA
Entity Registrant Name	ALCOA INC.
Entity Central Index Key	0000004281
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		1,178,822,574

Statement of Consolidated Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]
Sales (J)	$ 6,239	$ 5,765	$ 17,529	$ 17,447
Cost of goods sold (exclusive of expenses below)	4,904	4,798	14,164	14,578
Selling, general administrative, and other expenses	243	248	724	753
Research and development expenses	57	44	158	135
Provision for depreciation, depletion, and amortization	347	348	1,036	1,071
Restructuring and other charges (D)	209	151	780	402
Interest expense	126	108	351	341
Other expenses (income), net (I)	23	(7)	53	(15)
Total costs and expenses	5,909	5,690	17,266	17,265
Income before income taxes	330	75	263	182
Provision for income taxes (M)	199	31	200	116
Net income	131	44	63	66
Less: Net (loss) income attributable to noncontrolling interests	(18)	20	(46)	12
NET INCOME ATTRIBUTABLE TO ALCOA	$ 149	$ 24	$ 109	$ 54
EARNINGS PER SHARE ATTRIBUTABLE TO ALCOA COMMON SHAREHOLDERS (L):
Basic	$ 0.13	$ 0.02	$ 0.09	$ 0.05
Diluted	0.12	0.02	0.09	0.05
Dividends paid per common share	$ 0.03	$ 0.03	$ 0.09	$ 0.09

Statement of Consolidated Comprehensive (Loss) Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Net income (loss)	$ 131	$ 44	$ 63	$ 66
Other comprehensive (loss) income, net of tax (C):
Change in unrecognized net actuarial loss and prior service cost/benefit related to pension and other postretirement benefits	122	124	214	283
Foreign currency translation adjustments	(1,000)	(36)	(464)	(988)
Net change in unrealized gains on available-for-sale securities	(1)	1	0	(1)
Net change in unrecognized losses on cash flow hedges	(14)	(49)	(11)	135
Total Other comprehensive (loss) income, net of tax	(893)	40	(261)	(571)
Comprehensive (loss) income	(762)	84	(198)	(505)
Alcoa [Member]
Net income (loss)	149	24	109	54
Other comprehensive (loss) income, net of tax (C):
Change in unrecognized net actuarial loss and prior service cost/benefit related to pension and other postretirement benefits	126	122	217	278
Foreign currency translation adjustments	(774)	(4)	(384)	(723)
Net change in unrealized gains on available-for-sale securities	(1)	1	0	(1)
Net change in unrecognized losses on cash flow hedges	(19)	(50)	(10)	134
Total Other comprehensive (loss) income, net of tax	(668)	69	(177)	(312)
Comprehensive (loss) income	(519)	93	(68)	(258)
Noncontrolling Interests [Member]
Net income (loss)	(18)	20	(46)	12
Other comprehensive (loss) income, net of tax (C):
Change in unrecognized net actuarial loss and prior service cost/benefit related to pension and other postretirement benefits	(4)	2	(3)	5
Foreign currency translation adjustments	(226)	(32)	(80)	(265)
Net change in unrealized gains on available-for-sale securities	0	0	0	0
Net change in unrecognized losses on cash flow hedges	5	1	(1)	1
Total Other comprehensive (loss) income, net of tax	(225)	(29)	(84)	(259)
Comprehensive (loss) income	$ (243)	$ (9)	$ (130)	$ (247)

Consolidated Balance Sheet - USD ($) $ in Millions	Sep. 30, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 3,272	$ 1,437
Receivables from customers, less allowances of $20 in both 2014 and 2013 (N)	1,480	1,221
Other receivables (N)	925	597
Inventories (F)	3,138	2,705
Prepaid expenses and other current assets	874	1,009
Total current assets	9,689	6,969
Properties, plants, and equipment	36,747	36,866
Less: accumulated depreciation, depletion, and amortization	20,031	19,227
Properties, plants, and equipment, net	16,716	17,639
Goodwill	3,389	3,415
Investments	1,946	1,907
Deferred income taxes	2,981	3,184
Other noncurrent assets	2,401	2,628
Total assets	37,122	35,742
Current liabilities:
Short-term borrowings (G)	57	57
Commercial paper	99	0
Accounts payable, trade	2,979	2,960
Accrued compensation and retirement costs	951	1,013
Taxes, including income taxes	275	376
Other current liabilities	958	1,044
Long-term debt due within one year (G)	35	655
Total current liabilities	5,354	6,105
Long-term debt, less amount due within one year (G)	8,797	7,607
Accrued pension benefits	2,840	3,183
Accrued other postretirement benefits (O)	2,119	2,354
Other noncurrent liabilities and deferred credits	2,877	2,971
Total liabilities	21,987	22,220
CONTINGENCIES AND COMMITMENTS (H)
Alcoa shareholders' equity:
Preferred stock	55	55
Mandatory convertible preferred stock (K)	3	0
Common stock (G)	1,267	1,178
Additional capital (G) & (K)	8,760	7,509
Retained earnings	9,276	9,272
Treasury stock, at cost	(3,129)	(3,762)
Accumulated other comprehensive loss (C)	(3,836)	(3,659)
Total Alcoa shareholders' equity	12,396	10,593
Noncontrolling interests	2,739	2,929
Total equity	15,135	13,522
Total liabilities and equity	$ 37,122	$ 35,742

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Receivables from customers, allowance	$ 20	$ 20

Statement of Consolidated Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
CASH FROM OPERATIONS
Net income	$ 63	$ 66
Adjustments to reconcile net income to cash from operations:
Depreciation, depletion, and amortization	1,036	1,072
Deferred income taxes	2	(102)
Equity income, net of dividends	88	40
Restructuring and other charges (C)	780	402
Net gain from investing activities - asset sales (I)	(44)	(7)
Stock-based compensation	71	59
Excess tax benefits from stock-based payment arrangements	(7)	0
Other	67	(10)
Changes in assets and liabilities, excluding effects of acquisitions, divestitures, and foreign currency translation adjustments:
(Increase) in receivables	(665)	(347)
(Increase) in inventories	(485)	(141)
(Increase) decrease in prepaid expenses and other current assets	(28)	16
Increase in accounts payable, trade	83	176
(Decrease) in accrued expenses	(456)	(395)
(Decrease) increase in taxes, including income taxes	(51)	40
Pension contributions	(446)	(354)
Decrease (increase) in noncurrent assets	23	(114)
Increase in noncurrent liabilities	185	257
CASH PROVIDED FROM OPERATIONS	216	658
FINANCING ACTIVITIES
Net change in short-term borrowings (original maturities of three months or less)	0	7
Net change in commercial paper	99	0
Additions to debt (original maturities greater than three months) (G)	2,881	1,527
Debt issuance costs	(16)	(2)
Payments on debt (original maturities greater than three months) (G)	(1,717)	(1,980)
Proceeds from exercise of employee stock options	128	1
Excess tax benefits from stock-based payment arrangements	7	0
Issuance of mandatory convertible preferred stock (K)	1,213	0
Dividends paid to shareholders	(105)	(99)
Distributions to noncontrolling interests	(75)	(80)
Contributions from noncontrolling interests	44	12
Acquisitions of noncontrolling interests (E)	(28)	0
CASH PROVIDED FROM (USED FOR) FINANCING ACTIVITIES	2,431	(614)
INVESTING ACTIVITIES
Capital expenditures	(750)	(771)
Proceeds from the sale of assets and businesses	6	8
Additions to investments	(137)	(242)
Sales of investments	49	0
Net change in restricted cash	0	130
Other	25	10
CASH USED FOR INVESTING ACTIVITIES	(807)	(865)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(5)	(23)
Net change in cash and cash equivalents	1,835	(844)
Cash and cash equivalents at beginning of year	1,437	1,861
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 3,272	$ 1,017

Statement of Changes in Consolidated Equity - USD ($) $ in Millions	Total	Preferred Stock [Member]	Mandatory Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]	Noncontrolling Interests [Member]
Balance at Dec. 31, 2012	$ 16,523	$ 55		$ 1,178	$ 7,560	$ 11,689	$ (3,881)	$ (3,402)	$ 3,324
Net income (loss)	66					54			12
Other comprehensive income (loss)	(571)							(312)	(259)
Cash dividends declared:
Preferred share, value	(2)					(2)
Common share, value	(130)					(130)
Stock-based compensation	59				59
Common stock issued: compensation plans	(12)				(83)		71
Issuance of mandatory convertible preferred stock (K)	0
Distributions	(80)								(80)
Contributions	12								12
Other	(1)								(1)
Balance at Sep. 30, 2013	15,864	55		1,178	7,536	11,611	(3,810)	(3,714)	3,008
Balance at Jun. 30, 2013	15,858	55		1,178	7,524	11,653	(3,812)	(3,783)	3,043
Net income (loss)	44					24			20
Other comprehensive income (loss)	40							69	(29)
Cash dividends declared:
Preferred share, value	(1)					(1)
Common share, value	(65)					(65)
Stock-based compensation	13				13
Common stock issued: compensation plans	1				(1)		2
Distributions	(27)								(27)
Other	1								1
Balance at Sep. 30, 2013	15,864	55		1,178	7,536	11,611	(3,810)	(3,714)	3,008
Balance at Dec. 31, 2013	13,522	55		1,178	7,509	9,272	(3,762)	(3,659)	2,929
Net income (loss)	63					109			(46)
Other comprehensive income (loss)	(261)							(177)	(84)
Cash dividends declared:
Preferred share, value	(1)					(1)
Common share, value	(104)					(104)
Stock-based compensation	71				71
Common stock issued: compensation plans	114				(519)		633
Issuance of mandatory convertible preferred stock (K)	1,213		$ 3		1,210
Issuance of common stock (G)	575			89	486
Distributions	(75)								(75)
Contributions	44								44
Purchase of equity from noncontrolling interest (E)	(28)				3				(31)
Other	2								2
Balance at Sep. 30, 2014	15,135	55	3	1,267	8,760	9,276	(3,129)	(3,836)	2,739
Balance at Jun. 30, 2014	14,706	55		1,267	7,635	9,163	(3,275)	(3,168)	3,029
Net income (loss)	131					149			(18)
Other comprehensive income (loss)	(893)							(668)	(225)
Cash dividends declared:
Common share, value	(36)					(36)
Stock-based compensation	22				22
Common stock issued: compensation plans	36				(110)		146
Issuance of mandatory convertible preferred stock (K)	1,213		3		1,210
Distributions	(20)								(20)
Purchase of equity from noncontrolling interest (E)	(28)				3				(31)
Other	4								4
Balance at Sep. 30, 2014	$ 15,135	$ 55	$ 3	$ 1,267	$ 8,760	$ 9,276	$ (3,129)	$ (3,836)	$ 2,739

Statement of Changes in Consolidated Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Statement of Stockholders' Equity [Abstract]
Preferred, dividends per share	$ 0.09375	$ 1.875	$ 2.8125	$ 3.75
Common stock, dividends per share	$ 0.03	$ 0.06	$ 0.09	$ 0.12

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2014
Accounting Policies [Abstract]
Basis of Presentation	A. Basis of Presentation – The interim Consolidated Financial Statements of Alcoa Inc. and its subsidiaries (“Alcoa” or the “Company”) are unaudited. These Consolidated Financial Statements include all adjustments, consisting 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 2013 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 Form 10-Q report should be read in conjunction with Alcoa’s Annual Report on Form 10-K for the year ended December 31, 2013, which includes all disclosures required by GAAP.

Recently Adopted and Recently Issued Accounting Guidance	9 Months Ended
	Sep. 30, 2014
Accounting Changes and Error Corrections [Abstract]
Recently Adopted and Recently Issued Accounting Guidance	B. Recently Adopted and Recently Issued Accounting Guidance Adopted On January 1, 2014, Alcoa adopted changes issued by the Financial Accounting Standards Board (FASB) to the accounting for obligations resulting from joint and several liability arrangements. These changes require an entity to measure such obligations for which the total amount of the obligation is fixed at the reporting date as the sum of (i) the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors, and (ii) any additional amount the reporting entity expects to pay on behalf of its co-obligors. An entity will also be required to disclose the nature and amount of the obligation as well as other information about those obligations. Examples of obligations subject to these requirements are debt arrangements and settled litigation and judicial rulings. The adoption of these changes had no impact on the Consolidated Financial Statements, as Alcoa does not currently have any such arrangements. On January 1, 2014, Alcoa adopted changes issued by the FASB to a parent entity’s accounting for the cumulative translation adjustment upon derecognition of certain subsidiaries or groups of assets within a foreign entity or of an investment in a foreign entity. A parent entity is required to release any related cumulative foreign currency translation adjustment from accumulated other comprehensive income into net income in the following circumstances: (i) a parent entity ceases to have a controlling financial interest in a subsidiary or group of assets that is a business within a foreign entity if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided; (ii) a partial sale of an equity method investment that is a foreign entity; (iii) a partial sale of an equity method investment that is not a foreign entity whereby the partial sale represents a complete or substantially complete liquidation of the foreign entity that held the equity method investment; and (iv) the sale of an investment in a foreign entity. The adoption of these changes had no impact on the Consolidated Financial Statements. This guidance will need to be considered in the event Alcoa initiates any of the transactions described above. On January 1, 2014, Alcoa adopted changes issued by the FASB to the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. These changes require an entity to present an unrecognized tax benefit as a liability in the financial statements if (i) a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position, or (ii) the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset to settle any additional income taxes that would result from the disallowance of a tax position. Otherwise, an unrecognized tax benefit is required to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. Previously, there was diversity in practice as no explicit guidance existed. The adoption of these changes did not result in a significant impact on the Consolidated Financial Statements. Issued In April 2014, the FASB issued changes to reporting discontinued operations and disclosures of disposals of components of an entity. These changes require a disposal of a component to meet a higher threshold in order to be reported as a discontinued operation in an entity’s financial statements. The threshold is defined as a strategic shift that has, or will have, a major effect on an entity’s operations and financial results such as a disposal of a major geographical area or a major line of business. Additionally, the following two criteria have been removed from consideration of whether a component meets the requirements for discontinued operations presentation: (i) the operations and cash flows of a disposal component have been or will be eliminated from the ongoing operations of an entity as a result of the disposal transaction, and (ii) an entity will not have any significant continuing involvement in the operations of the disposal component after the disposal transaction. Furthermore, equity method investments now may qualify for discontinued operations presentation. These changes also require expanded disclosures for all disposals of components of an entity, whether or not the threshold for reporting as a discontinued operation is met, related to profit or loss information and/or asset and liability information of the component. These changes become effective for Alcoa on January 1, 2015. Management has determined that the adoption of these changes will not have an immediate impact on the Consolidated Financial Statements. This guidance will need to be considered in the event Alcoa initiates a disposal transaction. In May 2014, the FASB issued changes to the recognition of revenue from contracts with customers. These changes created a comprehensive framework for all entities in all industries to apply in the determination of when to recognize revenue, and, therefore, supersede virtually all existing revenue recognition requirements and guidance. This framework is expected to result in less complex guidance in application while providing a consistent and comparable methodology for revenue recognition. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this principle, an entity should apply the following steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract(s), (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract(s), and (v) recognize revenue when, or as, the entity satisfies a performance obligation. These changes become effective for Alcoa on January 1, 2017. Management is currently evaluating the potential impact of these changes on the Consolidated Financial Statements. In August 2014, the FASB issued changes to the disclosure of uncertainties about an entity’s ability to continue as a going concern. Under GAAP, continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity’s liquidation becomes imminent. Even if an entity’s liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern. Because there is no guidance in GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related note disclosures, there is diversity in practice whether, when, and how an entity discloses the relevant conditions and events in its financial statements. As a result, these changes require an entity’s management to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that financial statements are issued. Substantial doubt is defined as an indication that it is probable that an entity will be unable to meet its obligations as they become due within one year after the date that financial statements are issued. If management has concluded that substantial doubt exists, then the following disclosures should be made in the financial statements: (i) principal conditions or events that raised the substantial doubt, (ii) management’s evaluation of the significance of those conditions or events in relation to the entity’s ability to meet its obligations, (iii) management’s plans that alleviated the initial substantial doubt or, if substantial doubt was not alleviated, management’s plans that are intended to at least mitigate the conditions or events that raise substantial doubt, and (iv) if the latter in (iii) is disclosed, an explicit statement that there is substantial doubt about the entity’s ability to continue as a going concern. These changes become effective for Alcoa for the 2016 annual period. Management has determined that the adoption of these changes will not have an impact on the Consolidated Financial Statements. Subsequent to adoption, this guidance will need to be applied by management at the end of each annual period and interim period therein to determine what, if any, impact there will be on the Consolidated Financial Statements in a given reporting period.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6510796

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22583-107794

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22580-107794

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22499-107794

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 01
-Paragraph b
-Subparagraph 6
-Article 10

+ Details

Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2014

Equity [Abstract]

Accumulated Other Comprehensive Loss

C. Accumulated Other Comprehensive Loss

The following table details the activity of the four components that comprise Accumulated other comprehensive loss for both Alcoa’s shareholders and noncontrolling interests:


	Alcoa						Noncontrolling Interests
	Third quarter ended September 30,						Third quarter ended September 30,
	2014			2013			2014			2013
Pension and other postretirement benefits
Balance at beginning of period	$	(3,441	)	$	(3,907	)	$	(50	)	$	(74	)
Other comprehensive income (loss):
Unrecognized net actuarial loss and prior service cost/benefit		96			46			(9	)		—
Tax expense		(33	)		(12	)		3			—

Total Other comprehensive income before reclassifications, net of tax		63			34			(6	)		—

Amortization of net actuarial loss and prior service cost/benefit⁽¹⁾		97			135			3			2
Tax (expense) benefit⁽²⁾		(34	)		(47	)		(1	)		—

Total amount reclassified from Accumulated other comprehensive loss, net of tax⁽⁷⁾		63			88			2			2

Total Other comprehensive income (loss)		126			122			(4	)		2

Balance at end of period	$	(3,315	)	$	(3,785	)	$	(54	)	$	(72	)


Foreign currency translation
Balance at beginning of period	$	569		$	428		$	36		$	24
Other comprehensive loss⁽³⁾		(774	)		(4	)		(226	)		(32	)

Balance at end of period	$	(205	)	$	424		$	(190	)	$	(8	)


Available-for-sale securities
Balance at beginning of period	$	3		$	1		$	—		$	—
Other comprehensive (loss) income⁽⁴⁾		(1	)		1			—			—

Balance at end of period	$	2		$	2		$	—		$	—


Cash flow hedges (P)
Balance at beginning of period	$	(299	)	$	(305	)	$	(8	)	$	(5	)
Other comprehensive (loss) income:
Net change from periodic revaluations		(35	)		(70	)		7			2
Tax benefit (expense)		11			14			(2	)		(1	)

Total Other comprehensive (loss) income before reclassifications, net of tax		(24	)		(56	)		5			1

Net amount reclassified to earnings:
Aluminum contracts⁽⁵⁾		7			5			—			—
Foreign exchange contracts⁽⁵⁾		(1	)		3			—			—
Interest rate contracts⁽⁶⁾		—			—			—			—

Sub-total		6			8			—			—
Tax expense⁽²⁾		(1	)		(2	)		—			—

Total amount reclassified from Accumulated other comprehensive loss, net of tax⁽⁷⁾		5			6			—			—

Total Other comprehensive (loss) income		(19	)		(50	)		5			1

Balance at end of period	$	(318	)	$	(355	)	$	(3	)	$	(4	)


	Alcoa						Noncontrolling Interests
	Nine months ended September 30,						Nine months ended September 30,
	2014			2013			2014			2013
Pension and other postretirement benefits
Balance at beginning of period	$	(3,532	)	$	(4,063	)	$	(51	)	$	(77	)
Other comprehensive income (loss):
Unrecognized net actuarial loss and prior service cost/benefit		33			19			(9	)		—
Tax (expense) benefit		(8	)		2			3			—

Total Other comprehensive income before reclassifications, net of tax		25			21			(6	)		—

Amortization of net actuarial loss and prior service cost/benefit⁽¹⁾		296			395			5			7
Tax (expense) benefit⁽²⁾		(104	)		(138	)		(2	)		(2	)

Total amount reclassified from Accumulated other comprehensive loss, net of tax⁽⁷⁾		192			257			3			5

Total Other comprehensive income (loss)		217			278			(3	)		5

Balance at end of period	$	(3,315	)	$	(3,785	)	$	(54	)	$	(72	)


Foreign currency translation
Balance at beginning of period	$	179		$	1,147		$	(110	)	$	257
Other comprehensive loss⁽³⁾		(384	)		(723	)		(80	)		(265	)

Balance at end of period	$	(205	)	$	424		$	(190	)	$	(8	)


Available-for-sale securities
Balance at beginning of period	$	2		$	3		$	—		$	—
Other comprehensive loss⁽⁴⁾		—			(1	)		—			—

Balance at end of period	$	2		$	2		$	—		$	—


Cash flow hedges (P)
Balance at beginning of period	$	(308	)	$	(489	)	$	(2	)	$	(5	)
Other comprehensive (loss) income:
Net change from periodic revaluations		(31	)		151			(2	)		2
Tax benefit (expense)		7			(31	)		1			(1	)

Total Other comprehensive (loss) income before reclassifications, net of tax		(24	)		120			(1	)		1

Net amount reclassified to earnings:
Aluminum contracts⁽⁵⁾		18			12			—			—
Foreign exchange contracts⁽⁵⁾		(2	)		3			—			—
Interest rate contracts⁽⁶⁾		1			1			—			—

Sub-total		17			16			—			—
Tax expense⁽²⁾		(3	)		(2	)		—			—

Total amount reclassified from Accumulated other comprehensive loss, net of tax⁽⁷⁾		14			14			—			—

Total Other comprehensive (loss) income		(10	)		134			(1	)		1

Balance at end of period	$	(318	)	$	(355	)	$	(3	)	$	(4	)

⁽¹⁾	These amounts were included in the computation of net periodic benefit cost for pension and other postretirement benefits (see Note O).

⁽²⁾	These amounts were included 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⁾	In all periods presented, unrealized and realized gains and losses related to these securities were immaterial. Realized gains and losses were included in Other expenses (income), net on the accompanying Statement of Consolidated Operations.

⁽⁵⁾	These amounts were included in Sales on the accompanying Statement of Consolidated Operations.

⁽⁶⁾	These amounts were included in Interest expense on 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. These amounts were reflected on the accompanying Statement of Consolidated Operations in the line items indicated in footnotes 1 through 6.

- 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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e640-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
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-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e716-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
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-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e709-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e681-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

Restructuring and Other Charges

9 Months Ended

Sep. 30, 2014

Restructuring and Related Activities [Abstract]

Restructuring and Other Charges

D. Restructuring and Other Charges – In the third quarter and nine-month period of 2014, Alcoa recorded Restructuring and other charges of $209 ($175 after-tax and noncontrolling interest) and $780 ($503 after-tax and noncontrolling interest), respectively.

Restructuring and other charges in the 2014 third quarter included $220 ($186 after-tax and noncontrolling interest) for exit costs related to decisions to permanently shut down and demolish two smelters and two rolling mills (see below); $5 ($4 after-tax) for a gain on the sale of assets related to a previously shutdown location; a charge of $4 ($2 after-tax and noncontrolling interest) for other miscellaneous items; and $10 ($9 after-tax and noncontrolling interest) for the reversal of a number of layoff reserves related to prior periods, including those associated with a smelter in Italy due to changes in facts and circumstances (see below).

In the 2014 nine-month period, Restructuring and other charges included $663 ($426 after-tax and noncontrolling interest) for exit costs related to decisions to permanently shut down and demolish three smelters and two rolling mills (see below); $67 ($44 after-tax and noncontrolling interest) for the temporary curtailment of two smelters and a related production slowdown at one refinery (see below); $33 ($26 after-tax) for asset impairments related to prior capitalized costs for a modernization project at a smelter in Canada that is no longer being pursued; $18 ($11 after-tax and noncontrolling interest) for layoff costs, including the separation of approximately 245 employees (115 in the Engineered Products and Solutions segment, 30 in the Global Rolled Products segment,10 in the Alumina and Primary Metals segments combined, and 90 in Corporate); a charge of $16 ($9 after-tax and noncontrolling interest) for other miscellaneous items; and $17 ($13 after-tax and noncontrolling interest) for the reversal of a number of layoff reserves related to prior periods, including those associated with a smelter in Italy due to changes in facts and circumstances (see below).

In the 2014 first quarter, management approved the permanent shutdown and demolition of the remaining capacity (84,000 metric-tons-per-year) at the Massena East smelter in New York and the full capacity (190,000 metric-tons-per-year) at the Point Henry smelter in Australia. The capacity at Massena East was fully shut down by the end of the first quarter of 2014 and the Point Henry smelter was fully shut down in August 2014. Demolition and remediation activities related to both the Massena East and Point Henry smelters will begin in the fourth quarter of 2014 and are expected to be completed by the end of 2020 and 2018, respectively.

The decisions on the Massena East and Point Henry smelters were part of a 15-month review of 460,000 metric tons of smelting capacity initiated by management in the 2013 second quarter for possible curtailment. Through this review, management determined that the remaining capacity of the Massena East smelter was no longer competitive and the Point Henry smelter had no prospect of becoming financially viable. Management also initiated the temporary curtailment of the remaining capacity (62,000 metric-tons-per-year) at the Poços de Caldas smelter and additional capacity (85,000 metric-tons-per-year) at the São Luís smelter, both in Brazil. These curtailments were completed by the end of May 2014. As a result of these curtailments, production at the Poços de Caldas refinery was reduced (200,000 metric-tons-per-year), which was completed by the end of the 2014 second quarter.

Also in the 2014 first quarter, management approved the permanent shutdown of Alcoa’s two rolling mills in Australia, Point Henry and Yennora. This decision was made due to the significant impact of excess can sheet capacity in both Australia and Asia. The two rolling mills have a combined can sheet capacity of 200,000 metric-tons-per-year and will be closed by the end of 2014. Demolition and remediation activities related to the two rolling mills will begin in 2015 and are expected to be completed by the end of 2018.

In the 2014 third quarter, management approved the permanent shutdown and demolition of the capacity (150,000 metric-tons-per-year) at the Portovesme smelter in Italy, which has been idle since November 2012. This decision was made because the fundamental reasons that made the Portovesme smelter uncompetitive remain unchanged, including the lack of a viable long-term power solution. Demolition and remediation activities related to the Portovesme smelter will begin in the fourth quarter of 2014 and are expected to be completed by the end of 2019.

In the third quarter and nine-month period of 2014, costs related to the shutdown and curtailment actions included $60 and $197, respectively, for the layoff of approximately 1,780 employees (1,200 in the Primary Metals segment, 470 in the Global Rolled Products segment, 80 in the Alumina segment, and 30 in Corporate), including $18 in pension costs (see Note O); accelerated depreciation of $40 and $190, respectively, related to the three facilities in Australia as they continue to operate during 2014 (the smelter operated for one month in the 2014 third quarter); asset impairments of $74 and $165, respectively, representing the write-off of the remaining book value of all related properties, plants, and equipment; and $45 and $178, respectively, in other exit costs (see below). Additionally in the third quarter and nine-month period of 2014, remaining inventories, mostly operating supplies and raw materials, were written down to their net realizable value, resulting in a charge of $33 ($27 after-tax and noncontrolling interest) and $67 ($47 after-tax and noncontrolling interest), respectively, which was recorded in Cost of goods sold on the accompanying Statement of Consolidated Operations. The other exit costs in the 2014 third quarter and nine-month period represent $40 and $95, respectively, in asset retirement obligations and $4 and $42, respectively, in environmental remediation, both of which were triggered by the decisions to permanently shut down and demolish the aforementioned structures in the U.S., Australia, and Italy, and $1 and $41, respectively, in other related costs, including supplier and customer contract-related costs. Additional charges of approximately $25 are expected to be recognized in the fourth quarter of 2014 related to these shutdown actions in Australia.

In the third quarter and nine-month period of 2013, Alcoa recorded Restructuring and other charges of $151 ($108 after-tax and noncontrolling interest) and $402 ($283 after-tax and noncontrolling interests), respectively.

Restructuring and other charges in the 2013 third quarter included $152 ($109 after-tax) for exit costs related to the permanent shutdown and demolition of certain structures at two smelter locations (see below); a charge of $1 ($1 after-tax) for other miscellaneous items; and $2 ($2 after-tax and noncontrolling interest) for the reversal of a number of small layoff reserves related to prior periods.

In the 2013 nine-month period, Restructuring and other charges included $238 ($179 after-tax) for exit costs related to the permanent shutdown and demolition of certain structures at three smelter locations (see below); $103 ($62 after noncontrolling interest) related to a legal matter; $29 ($19 after-tax) for asset impairments and related costs for retirements of previously idled structures; $27 ($20 after-tax and noncontrolling interests) for layoff costs, including the separation of approximately 510 employees (190 in the Global Rolled Products segment, 170 in the Engineered Products and Solutions segment, 120 in the Primary Metals segment, and 30 in Corporate) and a pension plan settlement charge related to previously separated employees; a charge of $9 ($6 after-tax) for other miscellaneous items; and $4 ($3 after-tax and noncontrolling interests) for the reversal of a number of small layoff reserves related to prior periods.

In the 2013 second quarter, management approved the permanent shutdown and demolition of (i) two potlines (capacity of 105,000 metric-tons-per-year) that utilize Soderberg technology at the smelter located in Baie Comeau, Québec, Canada (remaining capacity of 280,000 metric-tons-per-year composed of two prebake potlines) and (ii) the smelter located in Fusina, Italy (capacity of 44,000 metric-tons-per-year). Additionally, in the 2013 third quarter, management approved the permanent shutdown and demolition of one potline (capacity of 41,000 metric-tons-per-year) that utilizes Soderberg technology at the Massena East, N.Y. smelter (remaining capacity of 84,000 metric-tons-per-year composed of two Soderberg potlines). The aforementioned Soderberg lines at Baie Comeau and Massena East were fully shut down by the end of the third quarter of 2013 while the Fusina smelter was previously temporarily idled in 2010. Demolition and remediation activities related to all three facilities began in the fourth quarter of 2013 and are expected to be completed by the end of 2014 (Massena East), 2015 (Baie Comeau), and 2017 (Fusina).

The decisions on the Soderberg lines for Baie Comeau and Massena East were part of a 15-month review of 460,000 metric tons of smelting capacity initiated by management earlier in the 2013 second quarter for possible curtailment (announced on May 1, 2013), while the decision on the Fusina smelter was in addition to the capacity being reviewed. Factors leading to all three decisions were in general focused on achieving sustained competitiveness and included, among others: lack of an economically viable, long-term power solution (Italy); changed market fundamentals; other existing idle capacity; and restart costs.

In the third quarter and nine-month period of 2013, exit costs related to these actions included $107 for the layoff of approximately 520 employees (Primary Metals segment) in both periods, including $78 in pension costs (see Note O); accelerated depreciation of $35 and $58, respectively, (Baie Comeau) and asset impairments of $4 and $18, respectively, (Fusina and Massena East) representing the write off of the remaining book value of all related properties, plants, and equipment; and $6 and $55, respectively, in other exit costs. Additionally in the third quarter and nine-month period of 2013, remaining inventories, mostly operating supplies and raw materials, were written down to their net realizable value, resulting in a charge of $2 ($1 after-tax) and $9 ($6 after-tax), respectively, which was recorded in Cost of goods sold on the accompanying Statement of Consolidated Operations. The other exit costs of $55 represent $48 in asset retirement obligations and $5 in environmental remediation, both of which were triggered by the decisions to permanently shut down and demolish these structures, and $2 in other related costs.

Alcoa does not include Restructuring and other charges in the results of its reportable segments. The pretax impact of allocating such charges to segment results would have been as follows:


	Third quarter ended September 30,				Nine months ended September 30,
	2014		2013		2014		2013
Alumina	$	1	$	—	$	8	$	—
Primary Metals		193		150		608		244
Global Rolled Products		13		—		126		10
Engineered Products and Solutions		—		—		4		22

Segment total		207		150		746		276
Corporate		2		1		34		126

Total restructuring and other charges	$	209	$	151	$	780	$	402

As of September 30, 2014, approximately 1,300 of the 2,025 employees associated with 2014 restructuring programs and approximately 1,390 of the 1,620 employees associated with 2013 restructuring programs were separated. The remaining separations for the 2014 and 2013 restructuring programs are expected to be completed by the end of 2014.

In the 2014 third quarter and nine-month period, cash payments of $66 and $89, respectively, were made against the layoff reserves related to the 2014 restructuring programs and $4 and $36, respectively, were made against the layoff reserves related to the 2013 restructuring programs.

Activity and reserve balances for restructuring charges were as follows:


	Layoff costs			Other exit costs			Total
Reserve balances at December 31, 2012	$	59		$	52		$	111

2013:
Cash payments		(63	)		(11	)		(74	)
Restructuring charges		201			85			286
Other*		(101	)		(84	)		(185	)

Reserve balances at December 31, 2013		96			42			138

2014:
Cash payments		(136	)		(15	)		(151	)
Restructuring charges		215			186			401
Other*		(40	)		(176	)		(216	)

Reserve balances at September 30, 2014	$	135		$	37		$	172

Other includes reversals of previously recorded restructuring charges and the effects of foreign currency translation. In the 2014 nine-month period, Other for layoff costs also included a reclassification of $18 in pension costs, as this obligation was included in Alcoa’s separate liability for pension obligations. Additionally in the 2014 nine-month period, Other for other exit costs also included a reclassification of the following restructuring charges: $95 in asset retirement and $47 in environmental obligations, as these liabilities are included in Alcoa’s separate reserves for asset retirement obligations and environmental remediation (see Note H), respectively. In 2013, Other for layoff costs also included a reclassification of $92 in pension costs, as this obligation was included in Alcoa’s separate liability for pension obligations. Additionally in 2013, Other for other exit costs also included a reclassification of the following restructuring charges: $58 in asset retirement and $12 in environmental obligations, as these liabilities were included in Alcoa’s separate reserves for asset retirement obligations and environmental remediation, respectively.

The remaining reserves are expected to be paid in cash during 2014, with the exception of approximately $75 to $80, which is expected to be paid over the next several years for special separation benefit payments, lease termination costs, and ongoing site remediation work.

Acquisitions and Divestitures	9 Months Ended
Acquisitions and Divestitures	Sep. 30, 2014
Business Combinations [Abstract]
Acquisitions and Divestitures	E. Acquisitions and Divestitures – On June 25, 2014, Alcoa signed a definitive agreement to acquire Firth Rixson, a global leader in aerospace jet engine components, from Oak Hill Capital Partners for $2,850. The purchase price is composed of $2,350 in cash and $500 of Alcoa common stock with a potential earn-out of $150. The common stock component is equivalent to 36,523,010 shares at a per share price of $13.69, as stated in the agreement. Also on June 25, 2014, Alcoa entered into a commitment with a financial institution for a 364-day senior unsecured bridge term loan facility in the amount of $2,500 for the purpose of financing all or a portion of the cash consideration for this acquisition and to pay fees and expenses incurred in connection therewith. On September 22, 2014, Alcoa completed the issuance of $2,500 in debt (see Note G) and equity (see Note K) instruments and terminated the 364-day senior unsecured bridge term loan facility in its entirety. In the third quarter of 2014, Alcoa recorded $13 ($8 after-tax) in Interest expense on the accompanying Statement of Consolidated Operations for costs associated with the execution and termination of the 364-day senior unsecured bridge term loan facility. The purpose of this acquisition is to strengthen Alcoa’s aerospace business and position the Company to capture additional aerospace growth with a broader range of high-growth, value-add jet engine components. The completion of the acquisition is subject to customary closing conditions and regulatory approvals (in the 2014 third quarter, Alcoa received such approval from the United States and from some, but not all, international markets) and is expected to close by the end of 2014. At that time, Firth Rixson will be included within Alcoa’s Engineered Products and Solutions segment. In August 2014, Alcoa completed the acquisition of the 30% outstanding noncontrolling interest in the aluminum brazing sheet venture in Kunshan City, China from Shanxi Yuncheng Engraving Group for $28. The $3 difference between the purchase price and the carrying value of the noncontrolling interest on Alcoa’s Consolidated Balance Sheet was included in Additional capital.

Inventories

9 Months Ended

Sep. 30, 2014

Inventory Disclosure [Abstract]

Inventories

F. Inventories


	September 30, 2014		December 31, 2013
Finished goods	$	725	$	578
Work-in-process		1,054		828
Bauxite and alumina		601		581
Purchased raw materials		541		474
Operating supplies		217		244

	$	3,138	$	2,705

At September 30, 2014 and December 31, 2013, the total amount of inventories valued on a last in, first out (LIFO) basis was $1,469 and $1,169, respectively. If valued on an average-cost basis, total inventories would have been $742 and $691 higher at September 30, 2014 and December 31, 2013, respectively.

Debt	9 Months Ended
Debt	Sep. 30, 2014
Debt Disclosure [Abstract]
Debt	G. Debt – In the first quarter of 2014, holders of $575 principal amount of Alcoa’s 5.25% Convertible Notes due March 15, 2014 (the “Notes”) exercised their option to convert the Notes into 89 million shares of Alcoa common stock. The conversion rate for the Notes was 155.4908 shares of Alcoa’s common stock per $1,000 (in full dollars) principal amount of notes, equivalent to a conversion price of $6.43 per share. The difference between the $575 principal amount of the Notes and the $89 par value of the issued shares increased Additional capital on the accompanying Consolidated Balance Sheet. This transaction was not reflected in the accompanying Statement of Consolidated Cash Flows as it represents a noncash financing activity. In September 2014, Alcoa completed a public debt offering under its shelf registration statement for $1,250 of 5.125% Notes due 2024 (the “2024 Notes”). Alcoa received $1,238 in net proceeds from the public debt offering reflecting an original issue discount. The net proceeds are intended to be used, together with the net proceeds of newly issued mandatory convertible preferred stock (see Note K), to finance the cash portion of a planned acquisition of an aerospace business (see Note E). The original issue discount was deferred and is being amortized to interest expense over the term of the 2024 Notes. Interest on the 2024 Notes will be paid semi-annually in April and October, commencing April 2015. If the acquisition is not consummated on or prior to 5:00 p.m. (New York City time) on April 1, 2015 or if prior to this stated date and time, the share purchase agreement related to the acquisition is terminated other than in connection with the consummation of the acquisition and is not otherwise amended or replaced, Alcoa is required to redeem the 2024 Notes, in whole but not in part, at a redemption price in cash equal to 101% of the aggregate principal amount of the 2024 Notes, plus any accrued and unpaid interest on the 2024 Notes. Separately, Alcoa has the option to redeem the 2024 Notes, as a whole or in part, at any time or from time to time, on at least 30 days, but not more than 60 days, prior notice to the holders of the 2024 Notes at a redemption price specified in the 2024 Notes. The 2024 Notes are subject to repurchase upon the occurrence of a change in control repurchase event (as defined in the 2024 Notes) at a repurchase price in cash equal to 101% of the aggregate principal amount of the 2024 Notes repurchased, plus any accrued and unpaid interest on the 2024 Notes repurchased. The 2024 Notes rank pari passu with Alcoa’s other unsecured unsubordinated indebtedness. On July 25, 2014, Alcoa entered into a Five-Year Revolving Credit Agreement (the “Credit Agreement”) with a syndicate of lenders and issuers named therein. The Credit Agreement provides a $4,000 senior unsecured revolving credit facility (the “Credit Facility”), the proceeds of which are to be used to provide working capital or for other general corporate purposes of Alcoa. Subject to the terms and conditions of the Credit Agreement, Alcoa may from time to time request increases in lender commitments under the Credit Facility, not to exceed $500 in aggregate principal amount, and may also request the issuance of letters of credit, subject to a letter of credit sublimit of $1,000 under the Credit Facility. The Credit Facility matures on July 25, 2019, unless extended or earlier terminated in accordance with the provisions of the Credit Agreement. Alcoa may make two one-year extension requests during the term of the Credit Facility, with any extension being subject to the lender consent requirements set forth in the Credit Agreement. Under the provisions of the Credit Agreement, Alcoa will pay a fee of 0.25% (based on Alcoa’s long-term debt ratings as of September 30, 2014) of the total commitment per annum to maintain the Credit Facility. The Credit Facility is unsecured and amounts payable under it will rank pari passu with all other unsecured, unsubordinated indebtedness of Alcoa. Borrowings under the Credit Facility may be denominated in U.S. dollars or euros. Loans will bear interest at a base rate or a rate equal to LIBOR, plus, in each case, an applicable margin based on the credit ratings of Alcoa’s outstanding senior unsecured long-term debt. The applicable margin on base rate loans and LIBOR loans will be 0.50% and 1.50% per annum, respectively, based on Alcoa’s long-term debt ratings as of September 30, 2014. Loans may be prepaid without premium or penalty, subject to customary breakage costs. The Credit Facility replaces Alcoa’s Five-Year Revolving Credit Agreement, dated as of July 25, 2011 (the “Former Credit Agreement”), which was scheduled to mature on July 25, 2017. The Former Credit Agreement, which had a total capacity of $3,750 and was undrawn, was terminated effective July 25, 2014. The Credit Agreement includes covenants substantially similar to those in the Former Credit Agreement, including, among others, (a) a leverage ratio, (b) limitations on Alcoa’s ability to incur liens securing indebtedness for borrowed money, (c) limitations on Alcoa’s ability to consummate a merger, consolidation or sale of all or substantially all of its assets, and (d) limitations on Alcoa’s ability to change the nature of its business. As of September 30, 2014, Alcoa was in compliance with all such covenants. The obligation of Alcoa to pay amounts outstanding under the Credit Facility may be accelerated upon the occurrence of an “Event of Default” as defined in the Credit Agreement. Such Events of Default include, among others, (a) Alcoa’s failure to pay the principal of, or interest on, borrowings under the Credit Facility, (b) any representation or warranty of Alcoa in the Credit Agreement proving to be materially false or misleading, (c) Alcoa’s breach of any of its covenants contained in the Credit Agreement, and (d) the bankruptcy or insolvency of Alcoa. There were no amounts outstanding under the Credit Facility at September 30, 2014 and no amounts were borrowed during the 2014 third quarter under the Credit Facility. At the end of 2013, Alcoa had ten revolving credit facilities (excluding the Credit Facility above), each with a different financial institution, providing a combined capacity of $1,190 and expiration dates ranging from February 2014 through December 2015. A credit facility ($150 capacity) that was due to expire in February 2014 was extended to March 2015 in the first quarter of 2014. Another credit facility ($150 capacity) expired in March 2014 (a new agreement with the same financial institution was entered into in April 2014 and the new facility expires in March 2016). Also in the first quarter of 2014, Alcoa entered into an eleventh revolving credit agreement, providing a $50 credit facility with an expiration date of February 2016. In the third quarter of 2014, two credit facilities ($200 combined capacity) that were due to expire in September 2014 and October 2014 were extended to September 2016 and October 2015, respectively. Additionally in the third quarter of 2014, a $200 credit facility expired and was not extended or renewed. In summary, at September 30, 2014, Alcoa has ten revolving credit facilities (excluding the Credit Facility), providing a combined capacity of $1,040, of which $340, $400, and $300 is due to expire in the remainder of 2014, 2015, and 2016, respectively. The purpose of any borrowings under all of these credit arrangements is to provide for working capital requirements and for other general corporate purposes. The covenants contained in all these arrangements are the same as the Credit Agreement above. During the first, second, and third quarters of 2014, Alcoa borrowed and repaid $620, $510, and $510, respectively, under these credit arrangements. The weighted-average interest rate and weighted-average days outstanding of the respective borrowings during the first, second, and third quarters of 2014 were 1.53%, 1.55%, and 1.55%, respectively, and 49 days, 84 days, and 73 days, respectively.

Contingencies and Commitments	9 Months Ended
Contingencies and Commitments	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments	H. Contingencies and Commitments Contingencies Litigation In November 2006, in Curtis v. Alcoa Inc., Civil Action No. 3:06cv448 (E.D. Tenn.), a class action was filed by plaintiffs representing approximately 13,000 retired former employees of Alcoa or Reynolds Metals Company and spouses and dependents of such retirees alleging violation of the Employee Retirement Income Security Act (ERISA) and the Labor-Management Relations Act by requiring plaintiffs, beginning January 1, 2007, to pay health insurance premiums and increased co-payments and co-insurance for certain medical procedures and prescription drugs. Plaintiffs alleged these changes to their retiree health care plans violated their rights to vested health care benefits. Plaintiffs additionally alleged that Alcoa had breached its fiduciary duty to plaintiffs under ERISA by misrepresenting to them that their health benefits would never change. Plaintiffs sought injunctive and declaratory relief, back payment of benefits, and attorneys’ fees. Alcoa had consented to treatment of plaintiffs’ claims as a class action. During the fourth quarter of 2007, following briefing and argument, the court ordered consolidation of the plaintiffs’ motion for preliminary injunction with trial, certified a plaintiff class, and bifurcated and stayed the plaintiffs’ breach of fiduciary duty claims. Trial in the matter was held over eight days commencing September 22, 2009 and ending on October 1, 2009 in federal court in Knoxville, TN before the Honorable Thomas Phillips, U.S. District Court Judge. On March 9, 2011, the court issued a judgment order dismissing plaintiffs’ lawsuit in its entirety with prejudice for the reasons stated in its Findings of Fact and Conclusions of Law. On March 23, 2011, plaintiffs filed a motion for clarification and/or amendment of the judgment order, which sought, among other things, a declaration that plaintiffs’ retiree benefits are vested subject to an annual cap and an injunction preventing Alcoa, prior to 2017, from modifying the plan design to which plaintiffs are subject or changing the premiums and deductibles that plaintiffs must pay. Also on March 23, 2011, plaintiffs filed a motion for award of attorneys’ fees and expenses. On June 11, 2012, the court issued its memorandum and order denying plaintiffs’ motion for clarification and/or amendment to the original judgment order. On July 6, 2012, plaintiffs filed a notice of appeal of the court’s March 9, 2011 judgment. On July 12, 2012, the trial court stayed Alcoa’s motion for assessment of costs pending resolution of plaintiffs’ appeal. The appeal was docketed in the United States Court of Appeals for the Sixth Circuit as case number 12-5801. On August 29, 2012, the trial court dismissed plaintiffs’ motion for attorneys’ fees without prejudice to refiling the motion following the resolution of the appeal at the Sixth Circuit Court of Appeals. On May 9, 2013, the Sixth Circuit Court of Appeals issued an opinion affirming the trial court’s denial of plaintiffs’ claims for lifetime, uncapped retiree healthcare benefits. Plaintiffs filed a petition for rehearing on May 22, 2013 to which Alcoa filed a response on June 7, 2013. On September 12, 2013, the Sixth Circuit Court of Appeals denied plaintiffs’ petition for rehearing. The trial court is now considering Alcoa’s request for an award of costs, which had been stayed pending resolution of the appeal, and the plaintiffs’ request for attorneys’ fees, which had been dismissed without prejudice to refiling following resolution of the appeal. On December 17, 2013 the United States Supreme Court docketed the plaintiffs’ petition for writ of certiorari to the Sixth Circuit Court of Appeals as Charles Curtis, et al., Individually and on Behalf of All Others Similarly Situated, Petitioners v. Alcoa Inc., et al., Docket No.13-728. Alcoa’s opposition to this petition was filed on January 16, 2014 and Petitioners filed their reply on January 29, 2014. On February 24, 2014, the Supreme Court denied plaintiffs’ petition. The Supreme Court’s refusal to hear the matter ends the substantive litigation and affirms Alcoa’s collectively bargained cap on the Company’s contributions to union retiree medical costs. By order dated June 26, 2014, the trial court denied plaintiff’s petition for award of attorneys’ fees and expenses. Thereafter, the plaintiffs and Alcoa agreed to dismiss their respective petitions for fees and costs. The case has been fully resolved. Before 2002, Alcoa purchased power in Italy in the regulated energy market and received a drawback of a portion of the price of power under a special tariff in an amount calculated in accordance with a published resolution of the Italian Energy Authority, Energy Authority Resolution n. 204/1999 (“204/1999”). In 2001, the Energy Authority published another resolution, which clarified that the drawback would be calculated in the same manner, and in the same amount, in either the regulated or unregulated market. At the beginning of 2002, Alcoa left the regulated energy market to purchase energy in the unregulated market. Subsequently, in 2004, the Energy Authority introduced regulation no. 148/2004 which set forth a different method for calculating the special tariff that would result in a different drawback for the regulated and unregulated markets. Alcoa challenged the new regulation in the Administrative Court of Milan and received a favorable judgment in 2006. Following this ruling, Alcoa continued to receive the power price drawback in accordance with the original calculation method, through 2009, when the European Commission declared all such special tariffs to be impermissible “state aid.” In 2010, the Energy Authority appealed the 2006 ruling to the Consiglio di Stato (final court of appeal). On December 2, 2011, the Consiglio di Stato ruled in favor of the Energy Authority and against Alcoa, thus presenting the opportunity for the energy regulators to seek reimbursement from Alcoa of an amount equal to the difference between the actual drawback amounts received over the relevant time period, and the drawback as it would have been calculated in accordance with regulation 148/2004. On February 23, 2012, Alcoa filed its appeal of the decision of the Consiglio di Stato (this appeal was subsequently withdrawn in March 2013). On March 26, 2012, Alcoa received a letter from the agency (Cassa Conguaglio per il Settore Eletrico (CCSE)) responsible for making and collecting payments on behalf of the Energy Authority demanding payment in the amount of approximately $110 (€85), including interest. By letter dated April 5, 2012, Alcoa informed CCSE that it disputes the payment demand of CCSE since (i) CCSE was not authorized by the Consiglio di Stato decisions to seek payment of any amount, (ii) the decision of the Consiglio di Stato has been appealed (see above), and (iii) in any event, no interest should be payable. On April 29, 2012, Law No. 44 of 2012 (“44/2012”) came into effect, changing the method to calculate the drawback. On February 21, 2013, Alcoa received a revised request letter from CSSE demanding Alcoa’s subsidiary, Alcoa Trasformazioni S.r.l., make a payment in the amount of $97 (€76), including interest, which reflects a revised calculation methodology by CCSE and represents the high end of the range of reasonably possible loss associated with this matter of $0 to $97 (€76). Alcoa has rejected that demand and has formally challenged it through an appeal before the Administrative Court on April 5, 2013. The Administrative Court scheduled a hearing for December 19, 2013, which was subsequently postponed until April 17, 2014, and further postponed until June 19, 2014. On this date, the Administrative Court listened to Alcoa’s oral argument, and on September 2, 2014, rendered its decision. The Administrative Court declared the payment request of CCSE and the Energy Authority to Alcoa to be unsubstantiated based on the 148/2004 resolution with respect to the January 19, 2007 through November 19, 2009 timeframe. The September 2, 2014 decision issued by the Administrative Court may be appealed in part or in its entirety by December 2, 2014. At this time, the Company is unable to reasonably predict an outcome for this matter. European Commission Matters In July 2006, the European Commission (EC) announced that it had opened an investigation to establish whether an extension of the regulated electricity tariff granted by Italy to some energy-intensive industries complied with European Union (EU) state aid rules. The Italian power tariff extended the tariff that was in force until December 31, 2005 through November 19, 2009 (Alcoa had been incurring higher power costs at its smelters in Italy subsequent to the tariff end date through the end of 2012). The extension was originally through 2010, but the date was changed by legislation adopted by the Italian Parliament effective on August 15, 2009. Prior to expiration of the tariff in 2005, Alcoa had been operating in Italy for more than 10 years under a power supply structure approved by the EC in 1996. That measure provided a competitive power supply to the primary aluminum industry and was not considered state aid from the Italian Government. The EC’s announcement expressed concerns about whether Italy’s extension of the tariff beyond 2005 was compatible with EU legislation and potentially distorted competition in the European market of primary aluminum, where energy is an important part of the production costs. On November 19, 2009, the EC announced a decision in this matter stating that the extension of the tariff by Italy constituted unlawful state aid, in part, and, therefore, the Italian Government is to recover a portion of the benefit Alcoa received since January 2006 (including interest). The amount of this recovery was to be based on a calculation prepared by the Italian Government (see below). In late 2009, after discussions with legal counsel and reviewing the bases on which the EC decided, including the different considerations cited in the EC decision regarding Alcoa’s two smelters in Italy, Alcoa recorded a charge of $250 (€173), which included $20 (€14) to write off a receivable from the Italian Government for amounts due under the now expired tariff structure and $230 (€159) to establish a reserve. On April 19, 2010, Alcoa filed an appeal of this decision with the General Court of the EU (see below). Prior to 2012, Alcoa was involved in other legal proceedings related to this matter that separately sought the annulment of the EC’s July 2006 decision to open an investigation alleging that such decision did not follow the applicable procedural rules and requested injunctive relief to suspend the effectiveness of the EC’s November 19, 2009 decision. However, the decisions by the General Court, and subsequent appeals to the European Court of Justice, resulted in the denial of these remedies. In June 2012, Alcoa received formal notification from the Italian Government with a calculated recovery amount of $375 (€303); this amount was reduced by $65 (€53) for amounts owed by the Italian Government to Alcoa, resulting in a net payment request of $310 (€250). In a notice published in the Official Journal of the European Union on September 22, 2012, the EC announced that it had filed an action against the Italian Government on July 18, 2012 to compel it to collect the recovery amount (on October 17, 2013, the European Court of Justice ordered Italy to so collect). On September 27, 2012, Alcoa received a request for payment in full of the $310 (€250) by October 31, 2012. Following discussions with the Italian Government regarding the timing of such payment, Alcoa paid the requested amount in five quarterly installments of $69 (€50) beginning in October 2012 through December 2013. Notwithstanding the payments made, Alcoa’s estimate of the most probable loss of the ultimate outcome of this matter and the low end of the range of reasonably possible loss, which is $202 (€159) to $385 (€303), remains the $202 (€159) recorded in 2009 (the U.S. dollar amount reflects the effects of foreign currency movements since 2009). Alcoa no longer has a reserve for this matter; instead, Alcoa has a noncurrent asset reflecting the excess of the total of the five payments made to the Italian Government over the reserve recorded in 2009. At September 30, 2014, the noncurrent asset was $116 (€91) (this does not include the $67 (€53) for amounts owed by the Italian Government to Alcoa mentioned above). On October 16, 2014, Alcoa received notice from the General Court of the EU that its April 19, 2010 appeal of the EC’s November 19, 2009 decision was denied. Alcoa has 60 days from October 16, 2014 to further appeal this decision on issues of law only. Management and legal counsel are currently reviewing the detailed decision of the General Court of the EU in order to make such a determination. As a result of the EC’s November 19, 2009 decision, management had contemplated ceasing operations at its Italian smelters due to uneconomical power costs. In February 2010, management agreed to continue to operate its smelters in Italy for up to six months while a long-term solution to address increased power costs could be negotiated. Over a portion of this time, a long-term solution was not able to be reached related to the Fusina smelter, therefore, in May 2010, Alcoa and the Italian Government agreed to a temporary idling of the Fusina smelter. As of September 30, 2010, the Fusina smelter was fully curtailed (44,000 metric-tons-per-year). For the Portovesme smelter, Alcoa executed a new power agreement effective September 1, 2010 through December 31, 2012, replacing the short-term, market-based power contract that was in effect since early 2010. This new agreement along with interruptibility rights (i.e. compensation for power interruptions when grids are overloaded) granted to Alcoa for the Portovesme smelter provided additional time to negotiate a long-term solution (the EC had previously determined that the interruptibility rights were not considered state aid). At the end of 2011, as part of a restructuring of Alcoa’s global smelting system, management decided to curtail operations at the Portovesme smelter during 2012 due to the uncertain prospects for viable, long-term power, along with rising raw materials costs and falling global aluminum prices (mid-2011 to late 2011). As of December 31, 2012, the Portovesme smelter was fully curtailed (150,000 metric-tons-per-year). In June 2013 and August 2014, Alcoa decided to permanently shut down and demolish the Fusina and Portovesme smelters, respectively, due to persistent uneconomical conditions (see Note D). In January 2007, the EC announced that it had opened an investigation to establish whether the regulated electricity tariffs granted by Spain comply with EU state aid rules. At the time the EC opened its investigation, Alcoa had been operating in Spain for more than nine years under a power supply structure approved by the Spanish Government in 1986, an equivalent tariff having been granted in 1983. The investigation is limited to the year 2005 and is focused both on the energy-intensive consumers and the distribution companies. The investigation provided 30 days to any interested party to submit observations and comments to the EC. With respect to the energy-intensive consumers, the EC opened the investigation on the assumption that prices paid under the tariff in 2005 were lower than a pool price mechanism, therefore being, in principle, artificially below market conditions. Alcoa submitted comments in which the company provided evidence that prices paid by energy-intensive consumers were in line with the market, in addition to various legal arguments defending the legality of the Spanish tariff system. It is Alcoa’s understanding that the Spanish tariff system for electricity is in conformity with all applicable laws and regulations, and therefore no state aid is present in the tariff system. While Alcoa does not believe that an unfavorable decision is probable, management has estimated that the total potential impact from an unfavorable decision could be approximately $90 (€70) pretax. Also, while Alcoa believes that any additional cost would only be assessed for the year 2005, it is possible that the EC could extend its investigation to later years. If the EC’s investigation concludes that the regulated electricity tariffs for industries are unlawful, Alcoa will have an opportunity to challenge the decision in the EU courts. On February 4, 2014, the EC announced a decision in this matter stating that the electricity tariffs granted by Spain for year 2005 do not constitute unlawful state aid. Environmental Matters Alcoa participates in environmental assessments and cleanups at more than 100 locations. These include owned or operating facilities and adjoining properties, previously owned or operating facilities and adjoining properties, and waste sites, including Superfund (Comprehensive Environmental Response, Compensation and Liability Act (CERCLA)) sites. A liability is recorded for environmental remediation when a cleanup program becomes probable and the costs can be reasonably estimated. As assessments and cleanups proceed, the liability is adjusted based on progress made in determining the extent of remedial actions and related costs. The liability can change substantially due to factors such as the nature and extent of contamination, changes in remedial requirements, and technological changes, among others. Alcoa’s remediation reserve balance was $563 and $509 at September 30, 2014 and December 31, 2013 (of which $66 and $48 was classified as a current liability), respectively, and reflects the most probable costs to remediate identified environmental conditions for which costs can be reasonably estimated. In the 2014 third quarter and nine-month period, the remediation reserve was increased by $11 and $63, respectively. The change in the third quarter of 2014 was due to a charge of $4 related to the planned demolition of the Portovesme smelter (separate from the matter discussed below – see Note D) and a net charge of $7 associated with a number of other sites. The change in the nine-month period of 2014 was due to a charge of $42 related to the planned demolition of certain structures at the Massena East, NY, Point Henry and Yennora, Australia, and Portovesme, Italy locations (see Note D), a charge of $3 related to the Portovesme location (see below), and a net charge of $18 associated with a number of other sites. Of the changes to the remediation reserve in the 2014 third quarter and nine-month period, $5 and $47, respectively, was recorded in Restructuring and other charges, including the aforementioned $42, while the remainder was recorded in Cost of goods sold on the accompanying Statement of Consolidated Operations. Payments related to remediation expenses applied against the reserve were $13 and $33 in the 2014 third quarter and nine-month period, respectively. These amounts include expenditures currently mandated, as well as those not required by any regulatory authority or third party. The change in the reserve also reflects a decrease of $6 in the 2014 third quarter due to the effects of foreign currency translation and an increase of $24 in the 2014 nine-month period due to, among other items, the effects of foreign currency translation and a reclassification of amounts included in other reserves within Other noncurrent liabilities and deferred credits on Alcoa’s Consolidated Balance Sheet as of December 31, 2013. Included in annual operating expenses are the recurring costs of managing hazardous substances and environmental programs. These costs are estimated to be approximately 2% of cost of goods sold. The following discussion provides details regarding the current status of certain significant reserves related to current or former Alcoa sites. Massena West, NY—Alcoa has an ongoing remediation project related to the Grasse River, which is adjacent to Alcoa’s Massena plant site. Many years ago, it was determined that sediments and fish in the river contain varying levels of polychlorinated biphenyls (PCBs). The project, which was selected by the U.S. Environmental Protection Agency (EPA) in a Record of Decision (ROD) issued in April 2013, is aimed at capping PCB contaminated sediments with concentration in excess of one part per million in the main channel of the river and dredging PCB contaminated sediments in the near-shore areas where total PCBs exceed one part per million. At September 30, 2014, the reserve balance associated with this matter was $240. Alcoa is in the planning and design phase, which is expected to take approximately two to three years from mid-2013, followed by the actual remediation fieldwork that is expected to take approximately four years. The majority of the project funding is expected to be spent between 2016 and 2020. Sherwin, TX—In connection with the sale of the Sherwin alumina refinery, which was required to be divested as part of the Reynolds merger in 2000, Alcoa agreed to retain responsibility for the remediation of the then existing environmental conditions, as well as a pro rata share of the final closure of the active bauxite residue waste disposal areas (known as the Copano facility). Alcoa’s share of the closure costs is proportional to the total period of operation of the active waste disposal areas. At September 30, 2014, the reserve balance associated with Sherwin was $33. Approximately half of the project funding is expected to be spent between 2014 and 2019. The remainder is not expected to be spent in the foreseeable future as it is dependent upon the operating life of the active waste disposal areas. East St. Louis, IL—Alcoa has an ongoing remediation project related to an area used for the disposal of bauxite residue from former alumina refining operations. The project, which was selected by the EPA in a ROD issued in July 2012, is aimed at implementing a soil cover over the affected area. On November 1, 2013, the Department of Justice lodged a consent decree on behalf of the EPA for Alcoa to conduct the work outlined in the ROD. This consent decree was entered as final in February 2014 by the Department of Justice. As a result, Alcoa began construction in March 2014; this project is expected to be completed by mid-2015. At September 30, 2014, the reserve balance associated with this matter was $17. The majority of the project funding is expected to be spent between 2014 and 2015. Fusina and Portovesme, Italy—In 1996, Alcoa acquired the Fusina smelter and rolling operations and the Portovesme smelter, both of which are owned by Alcoa’s subsidiary Alcoa Trasformazioni S.r.l. (“Trasformazioni”), from Alumix, an entity owned by the Italian Government. At the time of the acquisition, Alumix indemnified Alcoa for pre-existing environmental contamination at the sites. In 2004, the Italian Ministry of Environment and Protection of Land and Sea (MOE) issued orders to Trasformazioni and Alumix for the development of a clean-up plan related to soil contamination in excess of allowable limits under legislative decree and to institute emergency actions and pay natural resource damages. Trasformazioni appealed the orders and filed suit against Alumix, among others, seeking indemnification for these liabilities under the provisions of the acquisition agreement. In 2009, Ligestra S.r.l. (“Ligestra”), Alumix’s successor, and Trasformazioni agreed to a stay of the court proceedings while investigations were conducted and negotiations advanced towards a possible settlement. In December 2009, Trasformazioni and Ligestra reached an initial agreement for settlement of the liabilities related to Fusina while negotiations continued related to Portovesme (see below). The agreement outlined an allocation of payments to the MOE for emergency action and natural resource damages and the scope and costs for a proposed soil remediation project, which was formally presented to the MOE in mid-2010. The agreement is contingent upon final acceptance of the remediation project by the MOE. As a result of entering into this agreement, Alcoa increased the reserve by $12 in 2009 for Fusina. Based on comments received from the MOE and local and regional environmental authorities, Trasformazioni submitted a revised remediation plan in the first half of 2012; however, such revisions did not require any change to the existing reserve. In October 2013, the MOE approved the project submitted by Alcoa, resulting in no adjustment to the reserve. In January 2014, in anticipation of Alcoa reaching a final administrative agreement with the MOE, Alcoa and Ligestra entered into a final agreement related to Fusina for allocation of payments to the MOE for emergency action and natural resource damages and the costs for the approved soil remediation project. The agreement resulted in Ligestra assuming 50% to 80% of all payments and remediation costs. On February 27, 2014, Alcoa and the MOE reached a final administrative agreement for conduct of work. The agreement includes both a soil and groundwater remediation project estimated to cost $33 (€24) and requires payments of $25 (€18) to the MOE for emergency action and natural resource damages. The remediation projects are slated to begin in 2015. Based on the final agreement with Ligestra, Alcoa’s share of all costs and payments is $17 (€12), of which $9 (€6) related to the damages will be paid annually over a 10-year period, which began in April 2014, and was previously fully reserved. Separately, in 2009, due to additional information derived from the site investigations conducted at Portovesme, Alcoa increased the reserve by $3. In November 2011, Trasformazioni and Ligestra reached an agreement for settlement of the liabilities related to Portovesme, similar to the one for Fusina. A proposed soil remediation project for Portovesme was formally presented to the MOE in June 2012. Neither the agreement with Ligestra nor the proposal to the MOE resulted in a change to the reserve for Portovesme. In November 2013, the MOE rejected the proposed soil remediation project and requested a revised project be submitted. In May 2014, Trasformazioni and Ligestra submitted a revised soil remediation project that addressed certain stakeholders’ concerns. Alcoa increased the reserve by $3 in the 2014 second quarter to reflect the estimated higher costs associated with the revised soil remediation project, as well as current operating and maintenance costs of the Portovesme site. The ultimate outcome of this matter may result in a change to the existing reserve for Portovesme. Baie Comeau, Quebec, Canada—In August 2012, Alcoa presented an analysis of remediation alternatives to the Quebec Ministry of Sustainable Development, Environment, Wildlife and Parks (MDDEP), in response to a previous request, related to known PCBs and polycyclic aromatic hydrocarbons (PAHs) contained in sediments of the Anse du Moulin bay. As such, Alcoa increased the reserve for Baie Comeau by $25 in 2012 to reflect the estimated cost of Alcoa’s recommended alternative, consisting of both dredging and capping of the contaminated sediments. In July 2013, Alcoa submitted the Environmental Impact Assessment for the project to the MDDEP and this document is currently in the regulatory review process. The ultimate selection of a remedy may result in additional liability at the time the MDDEP issues a final decision. Mosjøen, Norway—In September 2012, Alcoa presented an analysis of remediation alternatives to the Norwegian Environmental Agency (NEA) (formerly the Norwegian Climate and Pollution Agency, or “Klif”), in response to a previous request, related to known PAHs in the sediments located in the harbor and extending out into the fjord. As such, Alcoa increased the reserve for Mosjøen by $20 in 2012 to reflect the estimated cost of the baseline alternative for dredging of the contaminated sediments. The ultimate selection of a remedy may result in additional liability at the time the NEA issues a final decision. Other In September 2010, following a corporate income tax audit covering the 2003 through 2005 tax years, an assessment was received as a result of Spain’s tax authorities disallowing certain interest deductions claimed by a Spanish consolidated tax group owned by the Company. An appeal of this assessment in Spain’s Central Tax Administrative Court by the Company was denied in October 2013. In December 2013, the Company filed an appeal of the assessment in Spain’s National Court. Additionally, following a corporate income tax audit of the same Spanish tax group for the 2006 through 2009 tax years, Spain’s tax authorities issued an assessment in July 2013 similarly disallowing certain interest deductions. In August 2013, the Company filed an appeal of this second assessment in Spain’s Central Tax Administrative Court. The combined assessments total $307 (€242). The Company believes it has meritorious arguments to support its tax position and intends to vigorously litigate the assessments through Spain’s court system. However, in the event the Company is unsuccessful, a portion of the assessments may be offset with existing net operating losses available to the Spanish consolidated tax group. Additionally, it is possible that the Company may receive similar assessments for tax years subsequent to 2009. At this time, the Company is unable to reasonably predict an outcome for this matter. In March 2013, Alcoa’s subsidiary, Alcoa World Alumina Brasil (AWAB), was notified by the Brazilian Federal Revenue Office (RFB) that approximately $110 (R$220) of value added tax credits previously claimed are being disallowed and a penalty of 50% assessed. Of this amount, AWAB received $41 (R$82) in cash in May 2012. The value added tax credits were claimed by AWAB for both fixed assets and export sales related to the Juruti bauxite mine and São Luís refinery expansion. The RFB has disallowed credits they allege belong to the consortium in which AWAB owns an interest and should not have been claimed by AWAB. Credits have also been disallowed as a result of challenges to apportionment methods used, questions about the use of the credits, and an alleged lack of documented proof. The assessment is currently in the administrative process, which could take approximately two years to complete. AWAB presented defense of its claim to the RFB on April 8, 2013. If AWAB is successful in the administrative process, the RFB would have no further recourse. If unsuccessful in this process, AWAB has the option to litigate at a judicial level. The estimated range of reasonably possible loss is $0 to $60 ($R155), whereby the maximum end of the range represents the sum of the portion of the disallowed credits applicable to the export sales and a 50% penalty of the gross amount disallowed. Additionally, the estimated range of disallowed credits related to AWAB’s fixed assets is $0 to $70 (R$175), which would increase the net carrying value of AWAB’s fixed assets if ultimately disallowed. It is management’s opinion that the allegations have no basis; however, at this time, management is unable to reasonably predict an outcome for this matter. Between 2000 and 2002, Alcoa Alumínio (Alumínio) sold approximately 2,000 metric tons of metal per month from its Poços de Caldas facility, located in the State of Minas Gerais (the “State”), to Alfio, a customer also located in the State. Sales in the State were exempted from value-added tax (VAT) requirements. Alfio subsequently sold metal to customers outside of the State, but did not pay the required VAT on those transactions. In July 2002, Alumínio received an assessment from State auditors on the theory that Alumínio should be jointly and severally liable with Alfio for the unpaid VAT. In June 2003, the administrative tribunal found Alumínio liable, and Alumínio filed a judicial case in the State in February 2004 contesting the finding. In May 2005, the Court of First Instance found Alumínio solely liable, and a panel of a State appeals court confirmed this finding in April 2006. Alumínio filed a special appeal to the Superior Tribunal of Justice (STJ) in Brasilia (the federal capital of Brazil) later in 2006. In 2011, the STJ (through one of its judges) reversed the judgment of the lower courts, finding that Alumínio should neither be solely nor jointly and severally liable with Alfio for the VAT, which ruling was then appealed by the State. In June 2012, the STJ agreed to have the case reheard before a five-judge panel. A decision from this panel is pending, but additional appeals are likely. At September 30, 2014, the assessment totaled $51 (R$125), including penalties and interest. While the Company believes it has meritorious defenses, the Company is unable to reasonably predict an outcome. In addition to the matters discussed above, various other lawsuits, claims, and proceedings have been or may be instituted or asserted against Alcoa, including those pertaining to environmental, product liability, safety and health, and tax matters. While the amounts claimed in these other matters may be substantial, the ultimate liability cannot now be determined because of the considerable uncertainties that exist. Therefore, it is possible that the Company’s liquidity or results of operations in a particular period could be materially affected by one or more of these other matters. However, based on facts currently available, management believes that the disposition of these other matters that are pending or asserted will not have a material adverse effect, individually or in the aggregate, on the financial position of the Company. Commitments Investments Alcoa has an investment in a joint venture for the development, construction, ownership, and operation of an integrated aluminum complex (bauxite mine, alumina refinery, aluminum smelter, and rolling mill) in Saudi Arabia. The joint venture is owned 74.9% by the Saudi Arabian Mining Company (known as “Ma’aden”) and 25.1% by Alcoa and consists of three separate companies as follows: one each for the mine and refinery, the smelter, and the rolling mill. Alcoa accounts for its investment in the joint venture under the equity method. Capital investment in the project is expected to total approximately $10,800 (SAR 40.5 billion). Alcoa’s equity investment in the joint venture will be approximately $1,100, and Alcoa will be responsible for its pro rata share of the joint venture’s project financing. Alcoa has contributed $919, including $4 and $87 in the 2014 third quarter and nine-month period, respectively, towards the $1,100 commitment. As of September 30, 2014 and December 31, 2013, the carrying value of Alcoa’s investment in this project was $956 and $951, respectively. The smelting and rolling mill companies have project financing totaling $4,515, of which $1,133 represents Alcoa’s share (the equivalent of Alcoa’s 25.1% interest in the smelting and rolling mill companies). In conjunction with the financings, Alcoa issued guarantees on behalf of the smelting and rolling mill companies to the lenders in the event that such companies default on their debt service requirements through 2017 and 2020 for the smelting company and 2018 and 2021 for the rolling mill company (Ma’aden issued similar guarantees for its 74.9% interest). Alcoa’s guarantees for the smelting and rolling mill companies cover total debt service requirements of $193 in principal and up to a maximum of approximately $60 in interest per year (based on projected interest rates). At September 30, 2014 and December 31, 2013, the combined fair value of the guarantees was $8 and $10, respectively, and was included in Other noncurrent liabilities and deferred credits on the accompanying Consolidated Balance Sheet. The mining and refining company has project financing totaling $1,992, of which $500 represents Alcoa World Alumina and Chemical’s (AWAC) 25.1% interest in the mining and refining company. Also, in January 2014, the mining and refining company entered into additional project financing totaling $240, of which $60 represents AWAC’s share. In conjunction with the financings, Alcoa, on behalf of AWAC, issued guarantees to the lenders in the event that the mining and refining company defaults on its debt service requirements through 2019 and 2024 (Ma’aden issued similar guarantees for its 74.9% interest). Alcoa’s guarantees for the mining and refining company cover total debt service requirements of $120 in principal and up to a maximum of approximately $30 in interest per year (based on projected interest rates). At September 30, 2014 and December 31, 2013, the combined fair value of the guarantees was $3 and $4, respectively, and was included in Other noncurrent liabilities and deferred credits on the accompanying Consolidated Balance Sheet. In the event Alcoa would be required to make payments under the guarantees, 40% of such amount would be contributed to Alcoa by Alumina Limited, consistent with its ownership interest in AWAC. Under the project financings for both the smelting and rolling mill companies and the mining and refining company, a downgrade of Alcoa’s credit ratings below investment grade by at least two agencies would require Alcoa to provide a letter of credit or fund an escrow account for a portion or all of Alcoa’s remaining equity commitment to the joint venture project in Saudi Arabia. This requirement would be effective only if at the time of a second downgrade in Alcoa’s credit ratings below investment grade, Alcoa’s equity investment was below 67% of its equity commitment in any of the three joint venture companies. A second downgrade in Alcoa’s credit ratings occurred on April 11, 2014; however, Alcoa had already contributed more than 67% of its equity commitment in each of the three joint venture companies prior to this downgrade. As a result, this requirement is no longer applicable. Alumínio, a wholly-owned subsidiary of Alcoa, is a participant in four consortia that each owns a hydroelectric power project in Brazil. One of these projects is known as Estreito, which reached full capacity in March 2013. Alumínio’s investment in this project is 25.49%, which entitles Alumínio to approximately 150 megawatts of assured power. The Estreito consortium is an unincorporated joint venture, and, therefore, Alumínio’s share of the assets and liabilities of the consortium are reflected in the respective lines on the accompanying Consolidated Balance Sheet. Total estimated project costs are approximately $2,110 (R$5,170) and Alumínio’s share is approximately $540 (R$1,320). As of September 30, 2014, approximately $520 (R$1,270) of Alumínio’s commitment was expended on the project. In 2004, Alcoa acquired a 20% interest in a consortium, which subsequently purchased the Dampier to Bunbury Natural Gas Pipeline (DBNGP) in Western Australia, in exchange for an initial cash investment of $17 (A$24). The investment in the DBNGP, which is classified as an equity investment, was made in order to secure a competitively priced long-term supply of natural gas to Alcoa’s refineries in Western Australia. Alcoa has made additional contributions of $141 (A$176) for its share of the pipeline capacity expansion and other operational purposes of the consortium through September 2011. No further expansion of the pipeline’s capacity is planned at this time. In late 2011, the consortium initiated a three-year equity call plan to improve its capitalization structure. This plan requires Alcoa to contribute $40 (A$40), of which $37 (A$38) was made through September 30, 2014, including $5 (A$5) and $8 (A$9) in the 2014 third quarter and nine-month period, respectively. In addition to its equity ownership, Alcoa has an agreement to purchase gas transmission services from the DBNGP. At September 30, 2014, Alcoa has an asset of $312 (A$358) representing prepayments made under the agreement for future gas transmission services. Alcoa’s maximum exposure to loss on the investment and the related contract is approximately $430 (A$500) as of September 30, 2014.

Other Expenses (Income), Net

9 Months Ended

Sep. 30, 2014

Other Income and Expenses [Abstract]

Other Expenses (Income), Net

I. Other Expenses (Income), Net


	Third quarter ended September 30,						Nine months ended September 30,
	2014			2013			2014			2013
Equity loss	$	16		$	18		$	84		$	40
Interest income		(3	)		(3	)		(13	)		(11	)
Foreign currency gains, net		(5	)		(4	)		—			(15	)
Net gain from asset sales		(15	)		(1	)		(44	)		(7	)
Net loss (gain) on mark-to-market derivative contracts (P)		20			(17	)		17			(18	)
Other, net		10			—			9			(4	)

	$	23		$	(7	)	$	53		$	(15	)

Segment Information

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Segment Information

J. Segment Information – The operating results of Alcoa’s reportable segments were as follows (differences between segment totals and consolidated totals are in Corporate):


	Alumina			Primary Metals			Global Rolled Products			Engineered Products and Solutions		Total
Third quarter ended September 30, 2014
Sales:
Third-party sales	$	886		$	1,865		$	1,926		$	1,495	$	6,172
Intersegment sales		482			730			52			—		1,264

Total sales	$	1,368		$	2,595		$	1,978		$	1,495	$	7,436

Profit and loss:
Equity loss	$	(7	)	$	—		$	(8	)	$	—	$	(15	)
Depreciation, depletion, and amortization		100			124			62			40		326
Income taxes		26			95			42			100		263
After-tax operating income (ATOI)		62			245			103			209		619
Third quarter ended September 30, 2013
Sales:
Third-party sales	$	846		$	1,600		$	1,805		$	1,437	$	5,688
Intersegment sales		513			691			47			—		1,251

Total sales	$	1,359		$	2,291		$	1,852		$	1,437	$	6,939

Profit and loss:
Equity loss	$	(2	)	$	(13	)	$	(3	)	$	—	$	(18	)
Depreciation, depletion, and amortization		100			131			56			40		327
Income taxes		17			(16	)		32			91		124
ATOI		67			8			71			192		338


	Alumina			Primary Metals			Global Rolled Products			Engineered Products and Solutions		Total
Nine months ended September 30, 2014
Sales:
Third-party sales	$	2,492		$	4,948		$	5,463		$	4,440	$	17,343
Intersegment sales		1,472			2,182			139			—		3,793

Total sales	$	3,964		$	7,130		$	5,602		$	4,440	$	21,136

Profit and loss:
Equity loss	$	(19	)	$	(45	)	$	(19	)	$	—	$	(83	)
Depreciation, depletion, and amortization		297			377			178			121		973
Income taxes		78			114			99			293		584
ATOI		192			327			241			602		1,362
Nine months ended September 30, 2013
Sales:
Third-party sales	$	2,494		$	4,978		$	5,461		$	4,328	$	17,261
Intersegment sales		1,689			2,095			141			—		3,925

Total sales	$	4,183		$	7,073		$	5,602		$	4,328	$	21,186

Profit and loss:
Equity loss	$	(2	)	$	(29	)	$	(9	)	$	—	$	(40	)
Depreciation, depletion, and amortization		324			398			168			119		1,009
Income taxes		45			(40	)		103			269		377
ATOI		189			15			231			558		993

The following table reconciles total segment ATOI to consolidated net income attributable to Alcoa:


	Third quarter ended September 30,						Nine months ended September 30,
	2014			2013			2014			2013
Total segment ATOI	$	619		$	338		$	1,362		$	993
Unallocated amounts (net of tax):
Impact of LIFO		(18	)		9			(33	)		12
Interest expense		(81	)		(70	)		(228	)		(221	)
Noncontrolling interests		18			(20	)		46			(12	)
Corporate expense		(74	)		(74	)		(211	)		(212	)
Restructuring and other charges		(189	)		(108	)		(587	)		(324	)
Other		(126	)		(51	)		(240	)		(182	)

Consolidated net income attributable to Alcoa	$	149		$	24		$	109		$	54

Items required to reconcile total segment ATOI to consolidated net income attributable to Alcoa include: the impact of LIFO inventory accounting; interest expense; noncontrolling interests; corporate expense (general administrative and selling expenses of operating the corporate headquarters and other global administrative facilities, along with depreciation and amortization on corporate-owned assets); restructuring and other charges; discontinued operations; and other items, including intersegment profit eliminations, differences between tax rates applicable to the segments and the consolidated effective tax rate, the results of the soft alloy extrusions business in Brazil, and other nonoperating items such as foreign currency transaction gains/losses and interest income.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Preferred and Common Stock	9 Months Ended
Preferred and Common Stock	Sep. 30, 2014
Equity [Abstract]
Preferred and Common Stock	K. Preferred and Common Stock – In September 2014, Alcoa completed a public offering under its shelf registration statement for $1,250 of 25 million depositary shares, each of which represents a 1/10th interest in a share of Alcoa’s 5.375% Class B Mandatory Convertible Preferred Stock, Series 1, par value $1 per share, liquidation preference $500 per share (the “Mandatory Convertible Preferred Stock”). The 25 million depositary shares are equivalent to 2.5 million shares of Mandatory Convertible Preferred Stock. Each depositary share entitles the holder, through the depositary, to a proportional fractional interest in the rights and preferences of a share of Mandatory Convertible Preferred Stock, including conversion, dividend, liquidation, and voting rights, subject to terms of the deposit agreement. Alcoa received $1,213 in net proceeds from the public offering reflecting an underwriting discount. The net proceeds are intended to be used, together with the net proceeds of newly issued debt (see Note G), to finance the cash portion of a planned acquisition of an aerospace business (see Note E). The underwriting discount was recorded as a decrease to Additional capital on the accompanying Consolidated Balance Sheet. The Mandatory Convertible Preferred Stock is a series of Alcoa’s Class B Serial Preferred Stock, of which Alcoa is authorized to issue up to 10 million shares; prior to this transaction no such shares were issued or outstanding. Class B Serial Preferred Stock ranks senior to Alcoa’s common stock and junior to Alcoa’s Class A Preferred Stock and existing and future indebtedness. Dividends on the Mandatory Convertible Preferred Stock are cumulative in nature and will be paid at the rate of $26.8750 per annum per share, commencing January 1, 2015. Holders of the Mandatory Convertible Preferred Stock generally have no voting rights. If the acquisition is not consummated on or prior to 5:00 p.m. (New York City time) on April 1, 2015 or if prior to this stated date and time, the share purchase agreement related to the acquisition is terminated or Alcoa determines in its reasonable judgment that the acquisition will not occur, Alcoa may elect to redeem the Mandatory Convertible Preferred Stock, in whole but not in part, at a redemption price specified in the terms of the Mandatory Convertible Preferred Stock, plus any accumulated and unpaid dividends. Under no other circumstances does Alcoa have the right to redeem the Mandatory Convertible Preferred Stock. On the mandatory conversion date, October 1, 2017, all outstanding shares of Mandatory Convertible Preferred Stock will automatically convert into shares of Alcoa’s common stock. Based on the Applicable Market Value (as defined in the terms of the Mandatory Convertible Preferred Stock) of Alcoa’s common stock on the mandatory conversion date, each share of Mandatory Convertible Preferred Stock will be convertible into not more than 30.9406 shares of common stock and not less than 25.7838 shares of common stock, subject to certain anti-dilution and other adjustments as described in the terms of the Mandatory Convertible Preferred Stock. At any time prior to October 1, 2017, a holder may elect to convert shares of Mandatory Convertible Preferred Stock, in whole or in part (but in no event less than one share of Mandatory Convertible Preferred Stock), at the minimum conversion rate of 25.7838 shares of common stock, subject to certain anti-dilution and other adjustments as described in the terms of the Mandatory Convertible Preferred Stock. If Alcoa undergoes a fundamental change, as defined in the depositary shares, holders may elect to convert their Mandatory Convertible Preferred Stock, in whole or in part (but in no event less than one share of Mandatory Convertible Preferred Stock), into shares of Alcoa’s common stock. The per share conversion rate under a fundamental change is not less than 25.2994 shares of common stock and not more than 30.9406 shares of common stock. Holders who elect to convert will also receive any accumulated and unpaid dividends and a Fundamental Change Dividend Make-whole Amount (as defined in the terms of the Mandatory Convertible Preferred Stock) equal to the present value of all remaining dividend payments on the Mandatory Convertible Preferred Stock. The underwriters of this public offering were granted a 30-day option to purchase up to an additional 3,750,000 depositary shares (equivalent to 375,000 shares of Mandatory Convertible Preferred Stock) solely to cover overallotments, if any. As of September 30, 2014, the underwriters have not exercised this option in whole or in part (this option expired unexercised on October 16, 2014). In the first quarter of 2014, Alcoa issued 89 million shares of common stock (par value $1 per share) under the terms of Alcoa’s 5.25% Convertible Notes due March 15, 2014 (see Note G). Alcoa is authorized to issue up to 1.8 billion shares of common stock. As of September 30, 2014, there were 1,267,290,820 common shares issued and 1,177,672,033 common shares outstanding.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Earnings Per Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

L. Earnings Per Share – Basic earnings per share (EPS) amounts are computed by dividing earnings, after the deduction of preferred stock dividends declared, by the average number of common shares outstanding. Diluted EPS amounts assume the issuance of common stock for all potentially dilutive share equivalents outstanding.

The information used to compute basic and diluted EPS attributable to Alcoa common shareholders was as follows (shares in millions):


	Third quarter ended September 30,				Nine months ended September 30,
	2014		2013		2014		2013
Net income attributable to Alcoa common shareholders	$	149	$	24	$	109	$	54
Less: preferred stock dividends declared		—		1		1		2

Net income available to Alcoa common shareholders – basic		149		23		108		52
Add: preferred dividends related to mandatory convertible preferred stock		—		—		—		—
Add: interest expense related to convertible notes		—		—		—		—

Net income available to Alcoa common shareholders – diluted	$	149	$	23	$	108	$	52

Average shares outstanding – basic		1,177		1,070		1,150		1,069
Effect of dilutive securities:
Stock options		8		—		6		1
Stock and performance awards		12		9		11		9
Mandatory convertible preferred stock		8		—		3		—
Convertible notes		—		—		—		—

Average shares outstanding – diluted		1,205		1,079		1,170		1,079

In the first quarter of 2014, holders of the convertible notes exercised their option to convert the notes into 89 million shares of Alcoa common stock (see Note G). As a result, for the 2014 third quarter, these 89 million shares were outstanding for the entire period and were included in both basic and diluted average shares outstanding. For the 2014 nine-month period, these 89 million shares were outstanding for a portion of the period equivalent to a weighted average of 67 million shares. The 67 million shares were included in both basic and diluted average shares outstanding for the 2014 nine-month period. For the portion of the 2014 nine-month period that the convertible notes were still outstanding debt, a weighted average of the 89 million share equivalents (22 million) would have been included only in the diluted average shares outstanding if their effect was dilutive.

In the 2014 nine-month period, 22 million share equivalents related to convertible notes (see above) were not included in the computation of diluted EPS because their effect was anti-dilutive.

In the 2013 third quarter and nine-month period, 89 million share equivalents related to convertible notes were not included in the respective computation of diluted EPS because their effect was anti-dilutive.

Options to purchase 3 million and 48 million shares of common stock at a weighted average exercise price of $16.24 and $10.78 per share were outstanding as of September 30, 2014 and 2013, respectively, but were not included in the computation of diluted EPS because they were anti-dilutive, as the exercise prices of the options were greater than the average market price of Alcoa’s common stock.

In June 2014, Alcoa entered into an agreement to purchase an aerospace jet engine components company. A portion of the purchase price will be paid in Alcoa common stock equivalent to 36,523,010 shares at a per share price of $13.69 (see Note E).

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Income Taxes	M. Income Taxes – The effective tax rate for the third quarter of 2014 and 2013 was 60.3% and 41.3%, respectively. The rate for the 2014 third quarter differs from the U.S. federal statutory rate of 35% primarily due to a $56 discrete income tax charge related to a tax rate change in Brazil (see below), restructuring charges related to operations in Italy for which no tax benefit was recognized (see Note D), and an $8 unfavorable impact related to the interim period treatment of operational losses in certain foreign jurisdictions for which no tax benefit was recognized (impact is expected to reverse by the end of 2014), slightly offset by a $9 discrete income tax benefit for the release of a valuation allowance related to operations in Germany due to the initiation of a tax planning strategy. The rate for the 2013 third quarter differs from the U.S. federal statutory rate of 35% primarily due to a $6 unfavorable impact related to the interim period treatment of operational losses in certain foreign jurisdictions for which no tax benefit was recognized (impact reversed by the end of 2013), partially offset by foreign income taxed in lower rate jurisdictions. The effective tax rate for the 2014 and 2013 nine-month periods was 76.0% and 63.7%, respectively. The rate for the 2014 nine-month period differs from the U.S. federal statutory rate of 35% primarily due to the previously mentioned $56 discrete income tax charge and a $44 unfavorable impact related to the interim period treatment of operational losses in certain foreign jurisdictions for which no tax benefit was recognized (impact is expected to reverse by the end of 2014). The rate for the 2013 nine-month period differs from the U.S. federal statutory rate of 35% primarily due to a $103 nondeductible charge for a legal matter, restructuring charges related to operations in Canada (benefit at a lower tax rate) and Italy (no tax benefit) (see Note D), and a $10 discrete income tax charge related to prior year taxes in Spain and Australia, somewhat offset by a $19 discrete income tax benefit related to new U.S. tax legislation (see below). On January 2, 2013, the American Taxpayer Relief Act of 2012 was signed into law and reinstated various expired or expiring temporary business tax provisions through 2013. Two specific temporary business tax provisions that expired in 2011 and impacted Alcoa are the look-through rule for payments between related controlled foreign corporations and the research and experimentation credit. The expiration of these two provisions resulted in Alcoa recognizing a higher income tax provision of $19 in 2012. As tax law changes are accounted for in the period of enactment, Alcoa recognized the previously mentioned discrete income tax benefit in the 2013 first quarter related to the 2012 tax year to reflect the extension of these provisions. In December 2011, one of Alcoa’s subsidiaries in Brazil applied for a tax holiday related to its expanded mining and refining operations. During 2013, the application was amended and re-filed. The deadline for the Brazilian government to deny the application was July 11, 2014. Since Alcoa did not receive notice that its application was denied, the tax holiday took effect automatically on July 12, 2014. As a result, the tax rate for this subsidiary will decrease significantly (from 34% to 15%), resulting in future cash tax savings over the 10-year holiday period (retroactively effective as of January 1, 2013). Additionally, a portion of the subsidiary’s net deferred tax asset that reverses within the holiday period was remeasured at the new lower tax rate in the 2014 third quarter. This remeasurement resulted in a decrease to this subsidiary’s net deferred tax asset and a noncash charge to earnings of $56 ($34 after noncontrolling interest).

Receivables	9 Months Ended
Receivables	Sep. 30, 2014
Transfers and Servicing [Abstract]
Receivables	N. Receivables – Alcoa has an arrangement with three financial institutions to sell certain customer receivables without recourse on a revolving basis. The sale of such receivables is completed through the use of a bankruptcy remote special purpose entity, which is a consolidated subsidiary of Alcoa. This arrangement provides for minimum funding of $200 up to a maximum of $500 for receivables sold. The initial sale of receivables in March 2012 resulted in the setup of a deferred purchase price of $254. Alcoa has received net cash funding of $210 ($848 in draws and $638 in repayments) since the program’s inception, including $250 each in draws and repayments in the 2014 nine-month period. As of September 30, 2014, the deferred purchase price receivable was $462, which was included in Other receivables on the accompanying Consolidated Balance Sheet. The deferred purchase price receivable is reduced as collections of the underlying receivables occur; however, as this is a revolving program, the sale of new receivables will result in an increase in the deferred purchase price receivable. The net change in the deferred purchase price receivable was reflected in the (Increase) in receivables line item on the accompanying Statement of Consolidated Cash Flows. This activity is reflected as an operating cash flow because the related customer receivables are the result of an operating activity with an insignificant, short-term interest rate risk. The gross amount of receivables sold and total cash collected under this program since its inception was $15,878 and $15,206, respectively. Alcoa services the customer receivables for the financial institutions at market rates; therefore, no servicing asset or liability was recorded.

- Definition

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.

+ References + Details

Pension and Other Postretirement Benefits

9 Months Ended

Sep. 30, 2014

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits

O. Pension and Other Postretirement Benefits – The components of net periodic benefit cost were as follows:


	Third quarter ended September 30,						Nine months ended September 30,
Pension benefits	2014			2013			2014			2013
Service cost	$	42		$	49		$	125		$	148
Interest cost		157			150			476			453
Expected return on plan assets		(198	)		(196	)		(586	)		(592	)
Recognized net actuarial loss		97			122			292			369
Amortization of prior service cost		5			4			14			14
Settlement*		18			—			18			2
Curtailment*		—			6			—			6
Special termination benefits*		—			72			—			72

Net periodic benefit cost	$	121		$	207		$	339		$	472

*	These amounts were recorded in Restructuring and other charges on the accompanying Statement of Consolidated Operations (see Note D).


	Third quarter ended September 30,						Nine months ended September 30,
Other postretirement benefits	2014			2013			2014			2013
Service cost	$	4		$	4		$	12		$	13
Interest cost		28			28			86			85
Recognized net actuarial loss		4			9			10			26
Amortization of prior service benefit		(6	)		(4	)		(15	)		(13	)

Net periodic benefit cost	$	30		$	37		$	93		$	111

On June 6, 2014, the United Steelworkers ratified a new five-year labor agreement covering approximately 6,100 employees at 10 U.S. locations; the previous labor agreement expired on May 15, 2014. In the 2014 nine-month period, as a result of the preparation for and ratification of the new agreement, Alcoa recognized $18 ($12 after-tax) in Cost of goods sold on the accompanying Statement of Consolidated Operations for, among other items, business contingency costs and a one-time signing bonus for employees. Additionally, as a result of the provisions of the new labor agreement, a significant plan amendment was adopted by one of Alcoa’s U.S. pension plans. Accordingly, this plan was required to be remeasured, and through this process, the discount rate was updated from 4.80% at December 31, 2013 to 4.25% at May 31, 2014. The plan remeasurement resulted in an increase to both Alcoa’s pension liability of $100 and a combination of the plan’s unrecognized net actuarial loss and prior service cost (included in Accumulated other comprehensive loss) of $65 (after-tax). The plan remeasurement also resulted in a $13 decrease to 2014 annual net periodic benefit cost, of which $6 and $8 was recognized in the 2014 third quarter and nine-month period, respectively. The remaining $5 decrease will be recognized in the fourth quarter of 2014.

Effective January 1, 2015, Alcoa will no longer offer postretirement health care benefits to Medicare-eligible, primarily non-bargaining, U.S. retirees through Company-sponsored plans. Qualifying retirees (hired prior to January 1, 2002), both current and future, may access these benefits in the marketplace by purchasing coverage directly from insurance carriers. This change resulted in the adoption of a significant plan amendment by certain Alcoa U.S. postretirement benefit plans. Accordingly, these plans were required to be remeasured, and through this process, the discount rate was updated from 4.80% at December 31, 2013 to 4.15% at August 31, 2014. The remeasurement of the plans resulted in a decrease to both Alcoa’s other postretirement benefits liability of $90 and a combination of the plans’ unrecognized net actuarial loss and prior service benefit (included in Accumulated other comprehensive loss) of $59 (after-tax). The remeasurement of the plans also resulted in a $7 decrease to 2014 annual net periodic benefit cost, of which $2 was recognized in the 2014 third quarter. The remaining $5 decrease will be recognized in the fourth quarter of 2014.

On August 8, 2014, the Highway and Transportation Funding Act (HATFA) was signed into law by the United States government. HATFA, in part, provides temporary relief for employers who sponsor defined benefit pension plans related to funding contributions under the Employee Retirement Income Security Act of 1974. Specifically, HATFA modifies the interest rates that had been set in 2012 by the Moving Ahead for Progress in the 21^st Century Act. As a result, management expects Alcoa’s estimated minimum required pension funding to decline by $100 in 2014 and by $125 in 2015.

Derivatives and Other Financial Instruments

9 Months Ended

Sep. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Other Financial Instruments

P. Derivatives and Other Financial Instruments

Derivatives

Alcoa is exposed to certain risks relating to its ongoing business operations, including financial, market, political, and economic risks. The following discussion provides information regarding Alcoa’s exposure to the risks of changing commodity prices, interest rates, and foreign currency exchange rates.

Alcoa’s commodity and derivative activities are subject to the management, direction, and control of the Strategic Risk Management Committee (SRMC), which is composed of the chief executive officer, the chief financial officer, and other officers and employees that the chief executive officer selects. The SRMC meets on a periodic basis to review derivative positions and strategy and reports to Alcoa’s Board of Directors on the scope of its activities.

The aluminum, energy, interest rate, and foreign exchange contracts are held for purposes other than trading. They are used primarily to mitigate uncertainty and volatility, and to cover underlying exposures. Alcoa is not involved in trading activities for energy, weather derivatives, or other nonexchange commodity trading activities.

The fair values and corresponding classifications under the appropriate level of the fair value hierarchy of outstanding derivative contracts recorded as assets in the accompanying Consolidated Balance Sheet were as follows:


Asset Derivatives	Level	September 30, 2014		December 31, 2013
Derivatives designated as hedging instruments:
Prepaid expenses and other current assets:
Aluminum contracts	1	$	8	$	4
Aluminum contracts	3		5		9
Foreign exchange contracts	1		—		2
Interest rate contracts	2		6		9
Other noncurrent assets:
Aluminum contracts	3		8		16
Energy contracts	3		—		6
Interest rate contracts	2		21		23

Total derivatives designated as hedging instruments		$	48	$	69


Derivatives not designated as hedging instruments*:
Prepaid expenses and other current assets:
Aluminum contracts	3	$	104	$	149
Other noncurrent assets:
Aluminum contracts	3		100		175

Total derivatives not designated as hedging instruments		$	204	$	324


Less margin held**:
Prepaid expenses and other current assets:
Aluminum contracts	1	$	3	$	—
Interest rate contracts	2		—		3

Sub-total		$	3	$	3


Total Asset Derivatives		$	249	$	390

*	See the “Other” section within Note P for additional information on Alcoa’s purpose for entering into derivatives not designated as hedging instruments and its overall risk management strategies.

All margin held is in the form of cash and is valued under a Level 1 technique. The levels that correspond to the margin held in the table above reference the level of the corresponding asset for which it is held. Alcoa elected to net the margin held against the fair value amounts recognized for derivative instruments executed with the same counterparties under master netting arrangements.

The fair values and corresponding classifications under the appropriate level of the fair value hierarchy of outstanding derivative contracts recorded as liabilities in the accompanying Consolidated Balance Sheet were as follows:


Liability Derivatives	Level	September 30, 2014		December 31, 2013
Derivatives designated as hedging instruments:
Other current liabilities:
Aluminum contracts	1	$	9	$	45
Aluminum contracts	3		29		23
Energy contracts	1		1		—
Other noncurrent liabilities and deferred credits:
Aluminum contracts	1		4		14
Aluminum contracts	3		378		387
Energy contracts	3		6		—

Total derivatives designated as hedging instruments		$	427	$	469


Derivatives not designated as hedging instruments*:
Other current liabilities:
Aluminum contracts	1	$	1	$	4
Embedded credit derivative	3		3		2
Foreign exchange contracts	1		—		3
Other noncurrent liabilities and deferred credits:
Embedded credit derivative	3		21		19

Total derivatives not designated as hedging instruments		$	25	$	28


Less margin posted**:
Other current liabilities:
Aluminum contracts	1	$	5	$	18
Other noncurrent liabilities and deferred credits:
Aluminum contracts	1		1		—

Sub-total		$	6	$	18


Total Liability Derivatives		$	446	$	479

*	See the “Other” section within Note P for additional information on Alcoa’s purpose for entering into derivatives not designated as hedging instruments and its overall risk management strategies.

All margin posted is in the form of cash and is valued under a Level 1 technique. The levels that correspond to the margin posted in the table above reference the level of the corresponding liability for which it is posted. Alcoa elected to net the margin posted against the fair value amounts recognized for derivative instruments executed with the same counterparties under master netting arrangements.

The gross amounts of recognized derivative assets and liabilities and gross amounts offset in the accompanying Consolidated Balance Sheet were as follows:


	Assets						Liabilities
	September 30, 2014			December 31, 2013			September 30, 2014			December 31, 2013
Gross amounts recognized:
Aluminum contracts	$	47		$	40		$	49		$	81
Interest rate contracts		27			32			—			3

	$	74		$	72		$	49		$	84


Gross amounts offset:
Aluminum contracts*	$	(42	)	$	(36	)	$	(42	)	$	(36	)
Interest rate contracts**		—			(3	)		—			(3	)

	$	(42	)	$	(39	)	$	(42	)	$	(39	)


Net amounts presented in the Consolidated Balance Sheet:
Aluminum contracts	$	5		$	4		$	7		$	45
Interest rate contracts		27			29			—			—

	$	32		$	33		$	7		$	45

*	The amounts under Assets and Liabilities as of September 30, 2014 and December 31, 2013 include $6 and $18, respectively, of margin posted with counterparties.

**	The amounts under Assets and Liabilities as of December 31, 2013 represent margin held from the counterparty.

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

•

Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

•

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

•

Level 3 - Inputs that are both significant to the fair value measurement and unobservable.

The following section describes the valuation methodologies used by Alcoa to measure derivative contracts at fair value, including an indication of the level in the fair value hierarchy in which each instrument is generally classified. Where appropriate, the description includes details of the valuation models, the key inputs to those models, and any significant assumptions. These valuation models are reviewed and tested at least on an annual basis.

Derivative contracts are valued using quoted market prices and significant other observable and unobservable inputs. Such financial instruments consist of aluminum, energy, interest rate, and foreign exchange contracts. The fair values for the majority of these derivative contracts are based upon current quoted market prices. These financial instruments are typically exchange-traded and are generally classified within Level 1 or Level 2 of the fair value hierarchy depending on whether the exchange is deemed to be an active market or not.

For certain derivative contracts whose fair values are based upon trades in liquid markets, such as interest rate swaps, valuation model inputs can generally be verified through over-the-counter markets and valuation techniques do not involve significant management judgment. The fair values of such financial instruments are generally classified within Level 2 of the fair value hierarchy.

Alcoa has other derivative contracts that do not have observable market quotes. For these financial instruments, management uses significant other observable inputs (e.g., information concerning time premiums and volatilities for certain option type embedded derivatives and regional premiums for aluminum contracts). For periods beyond the term of quoted market prices for aluminum, Alcoa uses a model that estimates the long-term price of aluminum by extrapolating the 10-year London Metal Exchange (LME) forward curve. For periods beyond the term of quoted market prices for energy, management has developed a forward curve based on independent consultant market research. Where appropriate, valuations are adjusted for various factors such as liquidity, bid/offer spreads, and credit considerations. Such adjustments are generally based on available market evidence (Level 2). In the absence of such evidence, management’s best estimate is used (Level 3). If a significant input that is unobservable in one period becomes observable in a subsequent period, the related asset or liability would be transferred to the appropriate level classification (1 or 2) in the period of such change.

The following table presents Alcoa’s derivative contract assets and liabilities that are measured and recognized at fair value on a recurring basis classified under the appropriate level of the fair value hierarchy (there were no transfers in or out of Levels 1 and 2 during the periods presented):


	September 30, 2014			December 31, 2013
Assets:
Level 1	$	8		$	6
Level 2		27			32
Level 3		217			355
Margin held		(3	)		(3	)

Total	$	249		$	390


Liabilities:
Level 1	$	15		$	66
Level 2		—			—
Level 3		437			431
Margin posted		(6	)		(18	)

Total	$	446		$	479

Financial instruments classified as Level 3 in the fair value hierarchy represent derivative contracts in which management has used at least one significant unobservable input in the valuation model. The following tables present a reconciliation of activity for such derivative contracts:


	Assets						Liabilities
Third quarter ended September 30, 2014	Aluminum contracts			Energy contracts			Aluminum contracts			Embedded credit derivative		Energy contracts
Opening balance – June 30, 2014	$	281		$	24		$	422		$	14	$	—
Total gains or losses (realized and unrealized) included in:
Sales		—			—			(8	)		—		—
Cost of goods sold		(36	)		—			—			—		—
Other expenses, net		(12	)		(5	)		—			10		—
Other comprehensive loss		(11	)		(18	)		(7	)		—		6
Purchases, sales, issuances, and settlements*		—			—			—			—		—
Transfers into and/or out of Level 3*		—			—			—			—		—
Foreign currency translation		(5	)		(1	)		—			—		—

Closing balance – September 30, 2014	$	217		$	—		$	407		$	24	$	6


Change in unrealized gains or losses included in earnings for derivative contracts held at September 30, 2014:
Sales	$	—		$	—		$	—		$	—	$	—
Cost of goods sold		—			—			—			—		—
Other expenses, net		(12	)		(5	)		—			10		—

*	There were no purchases, sales, issuances or settlements of Level 3 financial instruments. Additionally, there were no transfers of financial instruments into or out of Level 3.


	Assets						Liabilities
Nine months ended September 30, 2014	Aluminum contracts			Energy contracts			Aluminum contracts			Embedded credit derivative		Energy contracts
Opening balance – January 1, 2014	$	349		$	6		$	410		$	21	$	—
Total gains or losses (realized and unrealized) included in:
Sales		—			—			(19	)		—		—
Cost of goods sold		(147	)		—			—			—		—
Other expenses, net		(13	)		—			—			3		—
Other comprehensive loss		(11	)		(6	)		16			—		6
Purchases, sales, issuances, and settlements*		—			—			—			—		—
Transfers into and/or out of Level 3*		—			—			—			—		—
Foreign currency translation		39			—			—			—		—

Closing balance – September 30, 2014	$	217		$	—		$	407		$	24	$	6


Change in unrealized gains or losses included in earnings for derivative contracts held at September 30, 2014:
Sales	$	—		$	—		$	—		$	—	$	—
Cost of goods sold		—			—			—			—		—
Other expenses, net		(13	)		—			—			3		—

*	There were no purchases, sales, issuances or settlements of Level 3 financial instruments. Additionally, there were no transfers of financial instruments into or out of Level 3.

As reflected in the table above, the net unrealized loss on derivative contracts using Level 3 valuation techniques was $220 as of September 30, 2014. The unrealized loss related to aluminum contracts recognized as liabilities was mainly attributed to embedded derivatives in power contracts that index the price of power to the LME price of aluminum. These embedded derivatives are primarily valued using observable market prices; however, due to the length of the contracts, the valuation model also requires management to estimate the long-term price of aluminum based upon an extrapolation of the 10-year LME forward curve. Significant increases or decreases in the actual LME price beyond 10 years would result in a higher or lower fair value measurement. An increase of actual LME price over the inputs used in the valuation model will result in a higher cost of power and a corresponding increase to the liability. The embedded derivatives have been designated as hedges of forward sales of aluminum and related realized gains and losses were included in Sales on the accompanying Statement of Consolidated Operations.

In July 2012, as provided for in the arrangements, management elected to modify the pricing for two existing power contracts, which end in 2014 and 2016 (see directly below), for Alcoa’s two smelters in Australia and the Point Henry rolling mill in Australia. These contracts contain an LME-linked embedded derivative, which previously was not recorded as an asset in Alcoa’s Consolidated Balance Sheet. Beginning on January 1, 2001, all derivative contracts were required to be measured and recorded at fair value on an entity’s balance sheet under GAAP; however, an exception existed for embedded derivatives upon meeting certain criteria. The LME-linked embedded derivative in these two contracts met such criteria at that time. Management’s election to modify the pricing of these contracts qualifies as a significant change to the contracts thereby requiring that the contracts now be evaluated under derivative accounting as if they were new contracts. As a result, Alcoa recorded a derivative asset in the amount of $596 with an offsetting liability (deferred credit) recorded in Other current and noncurrent liabilities. Unrealized gains and losses from the embedded derivative were included in Other expenses (income), net on the accompanying Statement of Consolidated Operations, while realized gains and losses were included in Cost of goods sold on the accompanying Statement of Consolidated Operations as electricity purchases are made under the contracts. The deferred credit is recognized in Other expenses (income), net on the accompanying Statement of Consolidated Operations as power is received over the life of the contracts. The embedded derivative is valued using the probability and interrelationship of future LME prices, Australian dollar to U.S. dollar exchange rates, and the U.S. consumer price index. Significant increases or decreases in the LME price would result in a higher or lower fair value measurement. An increase in actual LME price over the inputs used in the valuation model will result in a higher cost of power and a decrease to the embedded derivative asset.

Also, included within Level 3 measurements is a derivative contract that will hedge the anticipated power requirements at Alcoa’s Portland smelter in Australia once the existing contract expires in 2016. This derivative hedges forecasted power purchases through December 2036. Beyond the term where market information is available, management has developed a forward curve, for valuation purposes, based on independent consultant market research. The effective portion of gains and losses on this contract was recorded in Other comprehensive (loss) income on the accompanying Consolidated Balance Sheet until the designated hedge period begins in 2016. Once the hedge period begins, realized gains and losses will be recorded in Cost of goods sold. Significant increases or decreases in the power market may result in a higher or lower fair value measurement. Higher prices in the power market would cause the derivative asset to increase in value. Alcoa had a similar contract for its Point Henry smelter in Australia once the existing contract expired on July 31, 2014, but elected to terminate the new contract in early 2013. This election was available to Alcoa under the terms of the contract and was made due to a projection that suggested the contract would be uneconomical. Prior to termination, the new contract was accounted for in the same manner as the contract for the Portland smelter.

Additionally, Alcoa has a six-year natural gas supply contract, which has an LME-linked ceiling. This contract is valued using probabilities of future LME aluminum prices and the price of Brent crude oil (priced on Platts), including the interrelationships between the two commodities subject to the ceiling. Any change in the interrelationship would result in a higher or lower fair value measurement. An LME ceiling was embedded into the contract price to protect against an increase in the price of oil without a corresponding increase in the price of LME. An increase in oil prices with no similar increase in the LME price would limit the increase of the price paid for natural gas. Unrealized gains and losses from this contract were included in Other expenses (income), net on the accompanying Statement of Consolidated Operations, while realized gains and losses will be included in Cost of goods sold on the accompanying Statement of Consolidated Operations as gas purchases are made under the contract.

Furthermore, an embedded derivative in a power contract that indexes the difference between the long-term debt ratings of Alcoa and the counterparty from any of the three major credit rating agencies is included in Level 3. Management uses market prices, historical relationships, and forecast services to determine fair value. Significant increases or decreases in any of these inputs would result in a lower or higher fair value measurement. A wider credit spread between Alcoa and the counterparty would result in an increase of the future liability and a higher cost of power. Realized gains and losses for this embedded derivative were included in Cost of goods sold on the accompanying Statement of Consolidated Operations and unrealized gains and losses were included in Other expenses (income), net on the accompanying Statement of Consolidated Operations.

The following table presents quantitative information for Level 3 derivative contracts:


	Fair value at September 30, 2014		Valuation technique	Unobservable input	Range ($ in full amounts)
Assets:
Aluminum contract	$	—	Discounted cash flow	Interrelationship of future aluminum and oil prices	Aluminum: $1,921 per metric ton in 2014 to $2,137 per metric ton in 2018 Oil: $97 per barrel in 2014 to $96 per barrel in 2018
Aluminum contract		204	Discounted cash flow	Interrelationship of future aluminum prices, foreign currency exchange rates, and the U.S. consumer price index (CPI)	Aluminum: $1,936 per metric ton in 2014 to $2,051 per metric ton in 2016 Foreign currency: A$1 = $0.87 in 2014 to $0.89 in 2016 CPI: 1982 base year of 100 and 236 in 2014 to 246 in 2016
Aluminum contract		13	Discounted cash flow	Interrelationship of LME price to overall energy price	Aluminum: $1,914 per metric ton in 2014 to $2,177 per metric ton in 2019
Liabilities:
Aluminum contracts		407	Discounted cash flow	Price of aluminum beyond forward curve	$2,460 per metric ton in 2025 to $2,588 per metric ton in 2027
Embedded credit derivative		24	Discounted cash flow	Credit spread between Alcoa and counterparty	1.79% to 2.49% (2.14% median)
Energy contracts		6	Discounted cash flow	Price of electricity beyond forward curve	$51 per megawatt hour in 2014 to $100 per megawatt hour in 2036

Fair Value Hedges

For derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the derivative as well as the loss or gain on the hedged item attributable to the hedged risk are recognized in current earnings. The gain or loss on the hedged items are included in the same line items as the loss or gain on the related derivative contracts as follows (there were no contracts that ceased to qualify as a fair value hedge in any of the periods presented):


Derivatives in Fair Value Hedging Relationships	Location of Gain or (Loss) Recognized in Earnings on Derivatives	Amount of Gain or (Loss) Recognized in Earnings on Derivatives
		Third quarter ended September 30,						Nine months ended September 30,
		2014			2013			2014			2013
Aluminum contracts*	Sales	$	20		$	20		$	19		$	(110	)
Interest rate contracts	Interest expense		3			3			8			8

Total		$	23		$	23		$	27		$	(102	)


* In the third quarter and nine months ended September 30, 2014, the loss recognized in earnings includes a gain of $1 and a loss of $12, respectively, related to the ineffective portion of the hedging relationships. In the third quarter and nine months ended September 30, 2013, the gain and loss, respectively, recognized in earnings includes a gain of $18 and $22, respectively, related to the ineffective portion of the hedging relationships.
Hedged Items in Fair Value Hedging Relationships	Location of Gain or (Loss) Recognized in Earnings on Hedged Items	Amount of Gain or (Loss) Recognized in Earnings on Hedged Items
		Third quarter ended September 30,						Nine months ended September 30,
		2014			2013			2014			2013
Aluminum contracts	Sales	$	(19	)	$	(2	)	$	(31	)	$	132
Interest rate contracts	Interest expense		(3	)		(3	)		(8	)		(8	)

Total		$	(22	)	$	(5	)	$	(39	)	$	124

Aluminum. Alcoa is a leading global producer of primary aluminum and fabricated aluminum products. As a condition of sale, customers often require Alcoa to enter into long-term, fixed-price commitments. These commitments expose Alcoa to the risk of fluctuating aluminum prices between the time the order is committed and the time that the order is shipped. Alcoa’s aluminum commodity risk management policy is to manage, principally through the use of futures and contracts, the aluminum price risk associated with a portion of its firm commitments. These contracts cover known exposures, generally within three years. As of September 30, 2014, Alcoa had 264,000 metric tons of aluminum futures designated as fair value hedges. The effects of this hedging activity will be recognized over the designated hedge periods in 2014 to 2018.

Interest Rates. Alcoa uses interest rate swaps to help maintain a strategic balance between fixed- and floating-rate debt and to manage overall financing costs. As of September 30, 2014, the Company had pay floating, receive fixed interest rate swaps that were designated as fair value hedges. These hedges effectively convert the interest rate from fixed to floating on $200 of debt through 2018.

Cash Flow Hedges

For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income (OCI) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings.


																									Location of Gain or
Derivatives in Cash Flow Hedging Relationships	Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion)											Location of Gain or (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)	Amount of Gain or (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)*												(Loss) Recognized in Earnings on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain or (Loss) Recognized in Earnings on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)**
	Third quarter ended September 30,						Nine months ended September 30,						Third quarter ended September 30,						Nine months ended September 30,							Third quarter ended September 30,					Nine months ended September 30,
	2014			2013			2014			2013			2014			2013			2014			2013				2014			2013		2014			2013
Aluminum contracts	$	(2	)	$	(61	)	$	(21	)	$	117	Sales	$	(6	)	$	(4	)	$	(15	)	$	(11	)	Other expenses (income), net	$	—		$	—	$	(1	)	$	(2	)
Energy contracts		(21	)		1			(6	)		—	Cost of goods sold		—			—			—			—		Other expenses (income), net		(5	)		—		—			—
Foreign exchange contracts		(1	)		3			1			1	Sales		—			(2	)		1			(2	)	Other expenses (income), net		—			—		—			—
Interest rate contracts		—			—			—			—	Interest expense		1			—			—			(1	)	Other expenses (income), net		—			—		—			—
Interest rate contracts		—			1			2			2	Other expenses (income), net		—			—			—			—		Other expenses (income), net		—			—		—			—

Total	$	(24	)	$	(56	)	$	(24	)	$	120		$	(5	)	$	(6	)	$	(14	)	$	(14	)		$	(5	)	$	—	$	(1	)	$	(2	)

*	Assuming market rates remain constant with the rates at September 30, 2014, a loss of $22 is expected to be recognized in earnings over the next 12 months.

For the third quarter ended September 30, 2014, the amount of gain or (loss) recognized in earnings represents $(5) related to the ineffective portion of the hedging relationships. There was no ineffectiveness related to the derivatives in cash flow hedging relationships for the nine months ended September 30, 2014. There was also less than $1 and $(1) recognized in earnings related to the amount excluded from the assessment of hedge effectiveness for the third quarter and nine months ended September 30, 2014, respectively. For both the third quarter and nine months ended September 30, 2013, there was no ineffectiveness related to the derivatives in cash flow hedging relationships. There was less than $1 and $(2) recognized in earnings related to the amount excluded from the assessment of hedge effectiveness for the third quarter and nine months ended September 30, 2013, respectively.

Aluminum and Energy. Alcoa anticipates the continued requirement to purchase aluminum and other commodities, such as electricity and natural gas, for its operations. Alcoa enters into forwards, futures, and options contracts to reduce volatility in the price of these commodities. Alcoa has also entered into power supply and other contracts that contain pricing provisions related to the LME aluminum price. The LME-linked pricing features are considered embedded derivatives. A majority of these embedded derivatives have been designated as cash flow hedges of future sales of aluminum.

Also, Alcoa has a contract to hedge the anticipated power requirements at its Portland smelter in Australia. This derivative hedges forecasted power purchases through December 2036. Prior to 2013, Alcoa had a similar contract for its Point Henry smelter in Australia but elected to terminate it under the terms of the contract (see additional information in description of Level 3 derivative contracts above).

Interest Rates. Alcoa had no outstanding cash flow hedges of interest rate exposures as of September 30, 2014. An investment accounted for on the equity method by Alcoa has entered into interest rate contracts, which are designated as cash flow hedges. Alcoa’s share of the activity of these cash flow hedges is reflected in the table above.

Foreign Exchange. Alcoa is subject to exposure from fluctuations in foreign currency exchange rates. Contracts may be used from time to time to hedge the variability in cash flows from the forecasted payment or receipt of currencies other than the functional currency. These contracts cover periods consistent with known or expected exposures through 2015.

Alcoa had the following outstanding forward contracts that were entered into to hedge forecasted transactions:


	September 30, 2014		December 31, 2013
Aluminum contracts (000 metric tons)		707		841
Energy contracts:
Electricity (megawatt hours)		59,409,328		59,409,328
Natural gas (million British thermal units)		20,570,000		19,980,000
Foreign exchange contracts	$	632	$	335

Other

Alcoa has certain derivative contracts that do not qualify for hedge accounting treatment and, therefore, the fair value gains and losses on these contracts are recorded in earnings as follows:


Derivatives Not Designated as Hedging Instruments	Location of Gain or (Loss) Recognized in Earnings on Derivatives	Amount of Gain or (Loss) Recognized in Earnings on Derivatives
		Third quarter ended September 30,					Nine months ended September 30,
		2014			2013		2014			2013
Aluminum contracts	Sales	$	—		$	1	$	(4	)	$	(6	)
Aluminum contracts	Other expenses (income), net		(11	)		4		(12	)		19
Embedded credit derivative	Other expenses (income), net		(10	)		11		(3	)		2
Foreign exchange contracts	Other expenses (income), net		1			2		(2	)		(3	)

Total		$	(20	)	$	18	$	(21	)	$	12

The aluminum contracts relate to derivatives (recognized in Sales) and embedded derivatives (recognized in Other expenses (income), net) entered into to minimize Alcoa’s price risk related to other customer sales and certain pricing arrangements.

The embedded credit derivative relates to a power contract that indexes the difference between the long-term debt ratings of Alcoa and the counterparty from any of the three major credit rating agencies. If the counterparty’s lowest credit rating is greater than one rating category above Alcoa’s credit ratings, an independent investment banker would be consulted to determine a hypothetical interest rate for both parties. The two interest rates would be netted and the resulting difference would be multiplied by Alcoa’s equivalent percentage of the outstanding principal of the counterparty’s debt obligation as of December 31 of the year preceding the calculation date. This differential would be added to the cost of power in the period following the calculation date.

Alcoa had a forward contract to purchase $53 (C$58) to mitigate the foreign currency risk related to a Canadian-denominated loan, which was repaid on August 31, 2014 upon maturity. The forward contract expired on August 5, 2014 and a gain of $1 was recognized in the 2014 third quarter. Also, in December 2013, Alcoa entered into a forward contract to purchase $231 (R$543) to mitigate the foreign currency risk associated with a potential future transaction denominated in Brazilian reais. This contract expired on March 31, 2014 and a loss of $4 was recognized in the 2014 nine-month period. All other foreign exchange contracts were entered into and settled within each of the periods presented.

Material Limitations

The disclosures with respect to commodity prices, interest rates, and foreign currency exchange risk do not take into account the underlying commitments or anticipated transactions. If the underlying items were included in the analysis, the gains or losses on the futures contracts may be offset. Actual results will be determined by a number of factors that are not under Alcoa’s control and could vary significantly from those factors disclosed.

Alcoa is exposed to credit loss in the event of nonperformance by counterparties on the above instruments, as well as credit or performance risk with respect to its hedged customers’ commitments. Although nonperformance is possible, Alcoa does not anticipate nonperformance by any of these parties. Contracts are with creditworthy counterparties and are further supported by cash, treasury bills, or irrevocable letters of credit issued by carefully chosen banks. In addition, various master netting arrangements are in place with counterparties to facilitate settlement of gains and losses on these contracts.

Other Financial Instruments

The carrying values and fair values of Alcoa’s other financial instruments were as follows:


	September 30, 2014				December 31, 2013
	Carrying value		Fair value		Carrying value		Fair value
Cash and cash equivalents	$	3,272	$	3,272	$	1,437	$	1,437
Restricted cash		18		18		18		18
Noncurrent receivables		18		18		19		19
Available-for-sale securities		144		144		119		119
Short-term borrowings		57		57		57		57
Commercial paper		99		99		—		—
Long-term debt due within one year		35		35		655		1,040
Long-term debt, less amount due within one year		8,797		9,335		7,607		7,863

The following methods were used to estimate the fair values of other financial instruments:

Cash and cash equivalents, Restricted cash, Short-term borrowings, and Commercial paper. The carrying amounts approximate fair value because of the short maturity of the instruments. The fair value amounts for Cash and cash equivalents, Restricted cash, and Commercial paper were classified in Level 1, and Short-term borrowings were classified in Level 2.

Noncurrent receivables. The fair value of noncurrent receivables was based on anticipated cash flows, which approximates carrying value, and was classified in Level 2 of the fair value hierarchy.

Available-for-sale securities. The fair value of such securities was based on quoted market prices. These financial instruments consist of exchange-traded fixed income and equity securities, which are carried at fair value and were classified in Level 1 of the fair value hierarchy.

Long-term debt due within one year and Long-term debt, less amount due within one year. The fair value was based on quoted market prices for public debt and on interest rates that are currently available to Alcoa for issuance of debt with similar terms and maturities for non-public debt. The fair value amounts for all Long-term debt were classified in Level 2 of the fair value hierarchy.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2014
Subsequent Events [Abstract]
Subsequent Events	Q. Subsequent Events – Management evaluated all activity of Alcoa and concluded that no subsequent events have occurred that would require recognition in the Consolidated Financial Statements or disclosure in the Notes to the Consolidated Financial Statements, except as described below. On October 15, 2014, Alcoa signed a definitive agreement to sell 100% of Alcoa World Alumina and Chemicals’ ownership stake in the Jamalco bauxite mining and alumina refining joint venture to Noble Group Ltd. The Jamalco joint venture is 55% owned by a subsidiary of Alcoa World Alumina and Chemicals, which is owned 60% by Alcoa. The sale is subject to customary regulatory approvals and is expected to close by the end of 2014. As a result of this transaction, Alcoa expects to record a non-cash loss of approximately $265 to $285 ($80 to $100 after-tax and noncontrolling interest, or $0.07 to $0.09 per diluted share) in the fourth quarter of 2014. On October 16, 2014, Alcoa received a court decision related to a European Commission Matter in Italy (see European Commission Matters in Note H). On October 23, 2014, Alcoa signed a definitive agreement to sell its 50.33% ownership stake in the Mt. Holly smelter to Century Aluminum Company. The sale is subject to customary regulatory approvals and is expected to close by the end of 2014. As a result of this transaction, Alcoa does not expect to record a material gain or loss in the fourth quarter of 2014.

Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2014

Equity [Abstract]

Summary of Changes in Accumulated Other Comprehensive Loss by Component

The following table details the activity of the four components that comprise Accumulated other comprehensive loss for both Alcoa’s shareholders and noncontrolling interests:


	Alcoa						Noncontrolling Interests
	Third quarter ended September 30,						Third quarter ended September 30,
	2014			2013			2014			2013
Pension and other postretirement benefits
Balance at beginning of period	$	(3,441	)	$	(3,907	)	$	(50	)	$	(74	)
Other comprehensive income (loss):
Unrecognized net actuarial loss and prior service cost/benefit		96			46			(9	)		—
Tax expense		(33	)		(12	)		3			—

Total Other comprehensive income before reclassifications, net of tax		63			34			(6	)		—

Amortization of net actuarial loss and prior service cost/benefit⁽¹⁾		97			135			3			2
Tax (expense) benefit⁽²⁾		(34	)		(47	)		(1	)		—

Total amount reclassified from Accumulated other comprehensive loss, net of tax⁽⁷⁾		63			88			2			2

Total Other comprehensive income (loss)		126			122			(4	)		2

Balance at end of period	$	(3,315	)	$	(3,785	)	$	(54	)	$	(72	)


Foreign currency translation
Balance at beginning of period	$	569		$	428		$	36		$	24
Other comprehensive loss⁽³⁾		(774	)		(4	)		(226	)		(32	)

Balance at end of period	$	(205	)	$	424		$	(190	)	$	(8	)


Available-for-sale securities
Balance at beginning of period	$	3		$	1		$	—		$	—
Other comprehensive (loss) income⁽⁴⁾		(1	)		1			—			—

Balance at end of period	$	2		$	2		$	—		$	—


Cash flow hedges (P)
Balance at beginning of period	$	(299	)	$	(305	)	$	(8	)	$	(5	)
Other comprehensive (loss) income:
Net change from periodic revaluations		(35	)		(70	)		7			2
Tax benefit (expense)		11			14			(2	)		(1	)

Total Other comprehensive (loss) income before reclassifications, net of tax		(24	)		(56	)		5			1

Net amount reclassified to earnings:
Aluminum contracts⁽⁵⁾		7			5			—			—
Foreign exchange contracts⁽⁵⁾		(1	)		3			—			—
Interest rate contracts⁽⁶⁾		—			—			—			—

Sub-total		6			8			—			—
Tax expense⁽²⁾		(1	)		(2	)		—			—

Total amount reclassified from Accumulated other comprehensive loss, net of tax⁽⁷⁾		5			6			—			—

Total Other comprehensive (loss) income		(19	)		(50	)		5			1

Balance at end of period	$	(318	)	$	(355	)	$	(3	)	$	(4	)


	Alcoa						Noncontrolling Interests
	Nine months ended September 30,						Nine months ended September 30,
	2014			2013			2014			2013
Pension and other postretirement benefits
Balance at beginning of period	$	(3,532	)	$	(4,063	)	$	(51	)	$	(77	)
Other comprehensive income (loss):
Unrecognized net actuarial loss and prior service cost/benefit		33			19			(9	)		—
Tax (expense) benefit		(8	)		2			3			—

Total Other comprehensive income before reclassifications, net of tax		25			21			(6	)		—

Amortization of net actuarial loss and prior service cost/benefit⁽¹⁾		296			395			5			7
Tax (expense) benefit⁽²⁾		(104	)		(138	)		(2	)		(2	)

Total amount reclassified from Accumulated other comprehensive loss, net of tax⁽⁷⁾		192			257			3			5

Total Other comprehensive income (loss)		217			278			(3	)		5

Balance at end of period	$	(3,315	)	$	(3,785	)	$	(54	)	$	(72	)


Foreign currency translation
Balance at beginning of period	$	179		$	1,147		$	(110	)	$	257
Other comprehensive loss⁽³⁾		(384	)		(723	)		(80	)		(265	)

Balance at end of period	$	(205	)	$	424		$	(190	)	$	(8	)


Available-for-sale securities
Balance at beginning of period	$	2		$	3		$	—		$	—
Other comprehensive loss⁽⁴⁾		—			(1	)		—			—

Balance at end of period	$	2		$	2		$	—		$	—


Cash flow hedges (P)
Balance at beginning of period	$	(308	)	$	(489	)	$	(2	)	$	(5	)
Other comprehensive (loss) income:
Net change from periodic revaluations		(31	)		151			(2	)		2
Tax benefit (expense)		7			(31	)		1			(1	)

Total Other comprehensive (loss) income before reclassifications, net of tax		(24	)		120			(1	)		1

Net amount reclassified to earnings:
Aluminum contracts⁽⁵⁾		18			12			—			—
Foreign exchange contracts⁽⁵⁾		(2	)		3			—			—
Interest rate contracts⁽⁶⁾		1			1			—			—

Sub-total		17			16			—			—
Tax expense⁽²⁾		(3	)		(2	)		—			—

Total amount reclassified from Accumulated other comprehensive loss, net of tax⁽⁷⁾		14			14			—			—

Total Other comprehensive (loss) income		(10	)		134			(1	)		1

Balance at end of period	$	(318	)	$	(355	)	$	(3	)	$	(4	)

⁽¹⁾	These amounts were included in the computation of net periodic benefit cost for pension and other postretirement benefits (see Note O).

⁽²⁾	These amounts were included 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⁾	In all periods presented, unrealized and realized gains and losses related to these securities were immaterial. Realized gains and losses were included in Other expenses (income), net on the accompanying Statement of Consolidated Operations.

⁽⁵⁾	These amounts were included in Sales on the accompanying Statement of Consolidated Operations.

⁽⁶⁾	These amounts were included in Interest expense on 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. These amounts were reflected on the accompanying Statement of Consolidated Operations in the line items indicated in footnotes 1 through 6.

Restructuring and Other Charges (Tables)

9 Months Ended

Sep. 30, 2014

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Other Charges by Reportable Segments, Pretax

The pretax impact of allocating such charges to segment results would have been as follows:


	Third quarter ended September 30,				Nine months ended September 30,
	2014		2013		2014		2013
Alumina	$	1	$	—	$	8	$	—
Primary Metals		193		150		608		244
Global Rolled Products		13		—		126		10
Engineered Products and Solutions		—		—		4		22

Segment total		207		150		746		276
Corporate		2		1		34		126

Total restructuring and other charges	$	209	$	151	$	780	$	402

Activity and Reserve Balances for Restructuring Charges

Activity and reserve balances for restructuring charges were as follows:


	Layoff costs			Other exit costs			Total
Reserve balances at December 31, 2012	$	59		$	52		$	111

2013:
Cash payments		(63	)		(11	)		(74	)
Restructuring charges		201			85			286
Other*		(101	)		(84	)		(185	)

Reserve balances at December 31, 2013		96			42			138

2014:
Cash payments		(136	)		(15	)		(151	)
Restructuring charges		215			186			401
Other*		(40	)		(176	)		(216	)

Reserve balances at September 30, 2014	$	135		$	37		$	172

Inventories (Tables)

9 Months Ended

Sep. 30, 2014

Inventory Disclosure [Abstract]

Schedule of Inventory Components


	September 30, 2014		December 31, 2013
Finished goods	$	725	$	578
Work-in-process		1,054		828
Bauxite and alumina		601		581
Purchased raw materials		541		474
Operating supplies		217		244

	$	3,138	$	2,705

Other Expenses (Income), Net (Tables)

9 Months Ended

Sep. 30, 2014

Other Income and Expenses [Abstract]

Schedule of Other Expenses (Income), Net

Other Expenses (Income), Net


	Third quarter ended September 30,						Nine months ended September 30,
	2014			2013			2014			2013
Equity loss	$	16		$	18		$	84		$	40
Interest income		(3	)		(3	)		(13	)		(11	)
Foreign currency gains, net		(5	)		(4	)		—			(15	)
Net gain from asset sales		(15	)		(1	)		(44	)		(7	)
Net loss (gain) on mark-to-market derivative contracts (P)		20			(17	)		17			(18	)
Other, net		10			—			9			(4	)

	$	23		$	(7	)	$	53		$	(15	)

Segment Information (Tables)

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Schedule of Operating Results of Alcoa's Reportable Segments

The operating results of Alcoa’s reportable segments were as follows (differences between segment totals and consolidated totals are in Corporate):


	Alumina			Primary Metals			Global Rolled Products			Engineered Products and Solutions		Total
Third quarter ended September 30, 2014
Sales:
Third-party sales	$	886		$	1,865		$	1,926		$	1,495	$	6,172
Intersegment sales		482			730			52			—		1,264

Total sales	$	1,368		$	2,595		$	1,978		$	1,495	$	7,436

Profit and loss:
Equity loss	$	(7	)	$	—		$	(8	)	$	—	$	(15	)
Depreciation, depletion, and amortization		100			124			62			40		326
Income taxes		26			95			42			100		263
After-tax operating income (ATOI)		62			245			103			209		619
Third quarter ended September 30, 2013
Sales:
Third-party sales	$	846		$	1,600		$	1,805		$	1,437	$	5,688
Intersegment sales		513			691			47			—		1,251

Total sales	$	1,359		$	2,291		$	1,852		$	1,437	$	6,939

Profit and loss:
Equity loss	$	(2	)	$	(13	)	$	(3	)	$	—	$	(18	)
Depreciation, depletion, and amortization		100			131			56			40		327
Income taxes		17			(16	)		32			91		124
ATOI		67			8			71			192		338


	Alumina			Primary Metals			Global Rolled Products			Engineered Products and Solutions		Total
Nine months ended September 30, 2014
Sales:
Third-party sales	$	2,492		$	4,948		$	5,463		$	4,440	$	17,343
Intersegment sales		1,472			2,182			139			—		3,793

Total sales	$	3,964		$	7,130		$	5,602		$	4,440	$	21,136

Profit and loss:
Equity loss	$	(19	)	$	(45	)	$	(19	)	$	—	$	(83	)
Depreciation, depletion, and amortization		297			377			178			121		973
Income taxes		78			114			99			293		584
ATOI		192			327			241			602		1,362
Nine months ended September 30, 2013
Sales:
Third-party sales	$	2,494		$	4,978		$	5,461		$	4,328	$	17,261
Intersegment sales		1,689			2,095			141			—		3,925

Total sales	$	4,183		$	7,073		$	5,602		$	4,328	$	21,186

Profit and loss:
Equity loss	$	(2	)	$	(29	)	$	(9	)	$	—	$	(40	)
Depreciation, depletion, and amortization		324			398			168			119		1,009
Income taxes		45			(40	)		103			269		377
ATOI		189			15			231			558		993

Schedule of Segment ATOI to Consolidated Net Income Attributable to Alcoa

The following table reconciles total segment ATOI to consolidated net income attributable to Alcoa:


	Third quarter ended September 30,						Nine months ended September 30,
	2014			2013			2014			2013
Total segment ATOI	$	619		$	338		$	1,362		$	993
Unallocated amounts (net of tax):
Impact of LIFO		(18	)		9			(33	)		12
Interest expense		(81	)		(70	)		(228	)		(221	)
Noncontrolling interests		18			(20	)		46			(12	)
Corporate expense		(74	)		(74	)		(211	)		(212	)
Restructuring and other charges		(189	)		(108	)		(587	)		(324	)
Other		(126	)		(51	)		(240	)		(182	)

Consolidated net income attributable to Alcoa	$	149		$	24		$	109		$	54

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Reconciliation of Information Used to Compute Basic and Diluted EPS

The information used to compute basic and diluted EPS attributable to Alcoa common shareholders was as follows (shares in millions):


	Third quarter ended September 30,				Nine months ended September 30,
	2014		2013		2014		2013
Net income attributable to Alcoa common shareholders	$	149	$	24	$	109	$	54
Less: preferred stock dividends declared		—		1		1		2

Net income available to Alcoa common shareholders – basic		149		23		108		52
Add: preferred dividends related to mandatory convertible preferred stock		—		—		—		—
Add: interest expense related to convertible notes		—		—		—		—

Net income available to Alcoa common shareholders – diluted	$	149	$	23	$	108	$	52

Average shares outstanding – basic		1,177		1,070		1,150		1,069
Effect of dilutive securities:
Stock options		8		—		6		1
Stock and performance awards		12		9		11		9
Mandatory convertible preferred stock		8		—		3		—
Convertible notes		—		—		—		—

Average shares outstanding – diluted		1,205		1,079		1,170		1,079

Pension and Other Postretirement Benefits (Tables)

9 Months Ended

Sep. 30, 2014

Compensation and Retirement Disclosure [Abstract]

Components of Net Periodic Benefit Cost

The components of net periodic benefit cost were as follows:


	Third quarter ended September 30,						Nine months ended September 30,
Pension benefits	2014			2013			2014			2013
Service cost	$	42		$	49		$	125		$	148
Interest cost		157			150			476			453
Expected return on plan assets		(198	)		(196	)		(586	)		(592	)
Recognized net actuarial loss		97			122			292			369
Amortization of prior service cost		5			4			14			14
Settlement*		18			—			18			2
Curtailment*		—			6			—			6
Special termination benefits*		—			72			—			72

Net periodic benefit cost	$	121		$	207		$	339		$	472

*	These amounts were recorded in Restructuring and other charges on the accompanying Statement of Consolidated Operations (see Note D).


	Third quarter ended September 30,						Nine months ended September 30,
Other postretirement benefits	2014			2013			2014			2013
Service cost	$	4		$	4		$	12		$	13
Interest cost		28			28			86			85
Recognized net actuarial loss		4			9			10			26
Amortization of prior service benefit		(6	)		(4	)		(15	)		(13	)

Net periodic benefit cost	$	30		$	37		$	93		$	111

Derivatives and Other Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Values and Corresponding Level of Fair Value Hierarchy of Outstanding Derivative Contracts Recorded as Assets


Asset Derivatives	Level	September 30, 2014		December 31, 2013
Derivatives designated as hedging instruments:
Prepaid expenses and other current assets:
Aluminum contracts	1	$	8	$	4
Aluminum contracts	3		5		9
Foreign exchange contracts	1		—		2
Interest rate contracts	2		6		9
Other noncurrent assets:
Aluminum contracts	3		8		16
Energy contracts	3		—		6
Interest rate contracts	2		21		23

Total derivatives designated as hedging instruments		$	48	$	69


Derivatives not designated as hedging instruments*:
Prepaid expenses and other current assets:
Aluminum contracts	3	$	104	$	149
Other noncurrent assets:
Aluminum contracts	3		100		175

Total derivatives not designated as hedging instruments		$	204	$	324


Less margin held**:
Prepaid expenses and other current assets:
Aluminum contracts	1	$	3	$	—
Interest rate contracts	2		—		3

Sub-total		$	3	$	3


Total Asset Derivatives		$	249	$	390

*	See the “Other” section within Note P for additional information on Alcoa’s purpose for entering into derivatives not designated as hedging instruments and its overall risk management strategies.

Schedule of Fair Values and Corresponding Level of Fair Value Hierarchy of Outstanding Derivative Contracts Recorded as Liabilities


Liability Derivatives	Level	September 30, 2014		December 31, 2013
Derivatives designated as hedging instruments:
Other current liabilities:
Aluminum contracts	1	$	9	$	45
Aluminum contracts	3		29		23
Energy contracts	1		1		—
Other noncurrent liabilities and deferred credits:
Aluminum contracts	1		4		14
Aluminum contracts	3		378		387
Energy contracts	3		6		—

Total derivatives designated as hedging instruments		$	427	$	469


Derivatives not designated as hedging instruments*:
Other current liabilities:
Aluminum contracts	1	$	1	$	4
Embedded credit derivative	3		3		2
Foreign exchange contracts	1		—		3
Other noncurrent liabilities and deferred credits:
Embedded credit derivative	3		21		19

Total derivatives not designated as hedging instruments		$	25	$	28


Less margin posted**:
Other current liabilities:
Aluminum contracts	1	$	5	$	18
Other noncurrent liabilities and deferred credits:
Aluminum contracts	1		1		—

Sub-total		$	6	$	18


Total Liability Derivatives		$	446	$	479

*	See the “Other” section within Note P for additional information on Alcoa’s purpose for entering into derivatives not designated as hedging instruments and its overall risk management strategies.

Gross Amounts of Recognized Derivative Assets and Liabilities and Gross Amounts Offset in Accompanying Consolidated Balance Sheet

The gross amounts of recognized derivative assets and liabilities and gross amounts offset in the accompanying Consolidated Balance Sheet were as follows:


	Assets						Liabilities
	September 30, 2014			December 31, 2013			September 30, 2014			December 31, 2013
Gross amounts recognized:
Aluminum contracts	$	47		$	40		$	49		$	81
Interest rate contracts		27			32			—			3

	$	74		$	72		$	49		$	84


Gross amounts offset:
Aluminum contracts*	$	(42	)	$	(36	)	$	(42	)	$	(36	)
Interest rate contracts**		—			(3	)		—			(3	)

	$	(42	)	$	(39	)	$	(42	)	$	(39	)


Net amounts presented in the Consolidated Balance Sheet:
Aluminum contracts	$	5		$	4		$	7		$	45
Interest rate contracts		27			29			—			—

	$	32		$	33		$	7		$	45

*	The amounts under Assets and Liabilities as of September 30, 2014 and December 31, 2013 include $6 and $18, respectively, of margin posted with counterparties.

**	The amounts under Assets and Liabilities as of December 31, 2013 represent margin held from the counterparty.

Schedule of Derivative Contract Assets and Liabilities Measured and Recognized at Fair Value on Recurring Basis


	September 30, 2014			December 31, 2013
Assets:
Level 1	$	8		$	6
Level 2		27			32
Level 3		217			355
Margin held		(3	)		(3	)

Total	$	249		$	390


Liabilities:
Level 1	$	15		$	66
Level 2		—			—
Level 3		437			431
Margin posted		(6	)		(18	)

Total	$	446		$	479

Schedule of Reconciliation of Activity for Derivative Contracts


	Assets						Liabilities
Third quarter ended September 30, 2014	Aluminum contracts			Energy contracts			Aluminum contracts			Embedded credit derivative		Energy contracts
Opening balance – June 30, 2014	$	281		$	24		$	422		$	14	$	—
Total gains or losses (realized and unrealized) included in:
Sales		—			—			(8	)		—		—
Cost of goods sold		(36	)		—			—			—		—
Other expenses, net		(12	)		(5	)		—			10		—
Other comprehensive loss		(11	)		(18	)		(7	)		—		6
Purchases, sales, issuances, and settlements*		—			—			—			—		—
Transfers into and/or out of Level 3*		—			—			—			—		—
Foreign currency translation		(5	)		(1	)		—			—		—

Closing balance – September 30, 2014	$	217		$	—		$	407		$	24	$	6


Change in unrealized gains or losses included in earnings for derivative contracts held at September 30, 2014:
Sales	$	—		$	—		$	—		$	—	$	—
Cost of goods sold		—			—			—			—		—
Other expenses, net		(12	)		(5	)		—			10		—

*	There were no purchases, sales, issuances or settlements of Level 3 financial instruments. Additionally, there were no transfers of financial instruments into or out of Level 3.


	Assets						Liabilities
Nine months ended September 30, 2014	Aluminum contracts			Energy contracts			Aluminum contracts			Embedded credit derivative		Energy contracts
Opening balance – January 1, 2014	$	349		$	6		$	410		$	21	$	—
Total gains or losses (realized and unrealized) included in:
Sales		—			—			(19	)		—		—
Cost of goods sold		(147	)		—			—			—		—
Other expenses, net		(13	)		—			—			3		—
Other comprehensive loss		(11	)		(6	)		16			—		6
Purchases, sales, issuances, and settlements*		—			—			—			—		—
Transfers into and/or out of Level 3*		—			—			—			—		—
Foreign currency translation		39			—			—			—		—

Closing balance – September 30, 2014	$	217		$	—		$	407		$	24	$	6


Change in unrealized gains or losses included in earnings for derivative contracts held at September 30, 2014:
Sales	$	—		$	—		$	—		$	—	$	—
Cost of goods sold		—			—			—			—		—
Other expenses, net		(13	)		—			—			3		—

*	There were no purchases, sales, issuances or settlements of Level 3 financial instruments. Additionally, there were no transfers of financial instruments into or out of Level 3.

Schedule of Quantitative Information for Level 3 Derivative Contracts

The following table presents quantitative information for Level 3 derivative contracts:


	Fair value at September 30, 2014		Valuation technique	Unobservable input	Range ($ in full amounts)
Assets:
Aluminum contract	$	—	Discounted cash flow	Interrelationship of future aluminum and oil prices	Aluminum: $1,921 per metric ton in 2014 to $2,137 per metric ton in 2018 Oil: $97 per barrel in 2014 to $96 per barrel in 2018
Aluminum contract		204	Discounted cash flow	Interrelationship of future aluminum prices, foreign currency exchange rates, and the U.S. consumer price index (CPI)	Aluminum: $1,936 per metric ton in 2014 to $2,051 per metric ton in 2016 Foreign currency: A$1 = $0.87 in 2014 to $0.89 in 2016 CPI: 1982 base year of 100 and 236 in 2014 to 246 in 2016
Aluminum contract		13	Discounted cash flow	Interrelationship of LME price to overall energy price	Aluminum: $1,914 per metric ton in 2014 to $2,177 per metric ton in 2019
Liabilities:
Aluminum contracts		407	Discounted cash flow	Price of aluminum beyond forward curve	$2,460 per metric ton in 2025 to $2,588 per metric ton in 2027
Embedded credit derivative		24	Discounted cash flow	Credit spread between Alcoa and counterparty	1.79% to 2.49% (2.14% median)
Energy contracts		6	Discounted cash flow	Price of electricity beyond forward curve	$51 per megawatt hour in 2014 to $100 per megawatt hour in 2036

Schedule of Gain or Loss on Hedged Items and Derivative Contracts

The gain or loss on the hedged items are included in the same line items as the loss or gain on the related derivative contracts as follows (there were no contracts that ceased to qualify as a fair value hedge in any of the periods presented):


Derivatives in Fair Value Hedging Relationships	Location of Gain or (Loss) Recognized in Earnings on Derivatives	Amount of Gain or (Loss) Recognized in Earnings on Derivatives
		Third quarter ended September 30,						Nine months ended September 30,
		2014			2013			2014			2013
Aluminum contracts*	Sales	$	20		$	20		$	19		$	(110	)
Interest rate contracts	Interest expense		3			3			8			8

Total		$	23		$	23		$	27		$	(102	)


* In the third quarter and nine months ended September 30, 2014, the loss recognized in earnings includes a gain of $1 and a loss of $12, respectively, related to the ineffective portion of the hedging relationships. In the third quarter and nine months ended September 30, 2013, the gain and loss, respectively, recognized in earnings includes a gain of $18 and $22, respectively, related to the ineffective portion of the hedging relationships.
Hedged Items in Fair Value Hedging Relationships	Location of Gain or (Loss) Recognized in Earnings on Hedged Items	Amount of Gain or (Loss) Recognized in Earnings on Hedged Items
		Third quarter ended September 30,						Nine months ended September 30,
		2014			2013			2014			2013
Aluminum contracts	Sales	$	(19	)	$	(2	)	$	(31	)	$	132
Interest rate contracts	Interest expense		(3	)		(3	)		(8	)		(8	)

Total		$	(22	)	$	(5	)	$	(39	)	$	124

Schedule of Gains and Losses on Derivative Excluded from Assessment of Effectiveness Recognized in Current Earnings

Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings.


																									Location of Gain or
Derivatives in Cash Flow Hedging Relationships	Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion)											Location of Gain or (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)	Amount of Gain or (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)*												(Loss) Recognized in Earnings on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain or (Loss) Recognized in Earnings on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)**
	Third quarter ended September 30,						Nine months ended September 30,						Third quarter ended September 30,						Nine months ended September 30,							Third quarter ended September 30,					Nine months ended September 30,
	2014			2013			2014			2013			2014			2013			2014			2013				2014			2013		2014			2013
Aluminum contracts	$	(2	)	$	(61	)	$	(21	)	$	117	Sales	$	(6	)	$	(4	)	$	(15	)	$	(11	)	Other expenses (income), net	$	—		$	—	$	(1	)	$	(2	)
Energy contracts		(21	)		1			(6	)		—	Cost of goods sold		—			—			—			—		Other expenses (income), net		(5	)		—		—			—
Foreign exchange contracts		(1	)		3			1			1	Sales		—			(2	)		1			(2	)	Other expenses (income), net		—			—		—			—
Interest rate contracts		—			—			—			—	Interest expense		1			—			—			(1	)	Other expenses (income), net		—			—		—			—
Interest rate contracts		—			1			2			2	Other expenses (income), net		—			—			—			—		Other expenses (income), net		—			—		—			—

Total	$	(24	)	$	(56	)	$	(24	)	$	120		$	(5	)	$	(6	)	$	(14	)	$	(14	)		$	(5	)	$	—	$	(1	)	$	(2	)

*	Assuming market rates remain constant with the rates at September 30, 2014, a loss of $22 is expected to be recognized in earnings over the next 12 months.

Schedule of Outstanding Forward Contracts that were Entered into Hedge Forecasted Transactions

Alcoa had the following outstanding forward contracts that were entered into to hedge forecasted transactions:


	September 30, 2014		December 31, 2013
Aluminum contracts (000 metric tons)		707		841
Energy contracts:
Electricity (megawatt hours)		59,409,328		59,409,328
Natural gas (million British thermal units)		20,570,000		19,980,000
Foreign exchange contracts	$	632	$	335

Schedule of Fair Value Gains and Losses on Derivatives Contracts Recorded in Earnings

Alcoa has certain derivative contracts that do not qualify for hedge accounting treatment and, therefore, the fair value gains and losses on these contracts are recorded in earnings as follows:


Derivatives Not Designated as Hedging Instruments	Location of Gain or (Loss) Recognized in Earnings on Derivatives	Amount of Gain or (Loss) Recognized in Earnings on Derivatives
		Third quarter ended September 30,					Nine months ended September 30,
		2014			2013		2014			2013
Aluminum contracts	Sales	$	—		$	1	$	(4	)	$	(6	)
Aluminum contracts	Other expenses (income), net		(11	)		4		(12	)		19
Embedded credit derivative	Other expenses (income), net		(10	)		11		(3	)		2
Foreign exchange contracts	Other expenses (income), net		1			2		(2	)		(3	)

Total		$	(20	)	$	18	$	(21	)	$	12

Schedule of Carrying Values and Fair Values of Other Financial Instruments

The carrying values and fair values of Alcoa’s other financial instruments were as follows:


	September 30, 2014				December 31, 2013
	Carrying value		Fair value		Carrying value		Fair value
Cash and cash equivalents	$	3,272	$	3,272	$	1,437	$	1,437
Restricted cash		18		18		18		18
Noncurrent receivables		18		18		19		19
Available-for-sale securities		144		144		119		119
Short-term borrowings		57		57		57		57
Commercial paper		99		99		—		—
Long-term debt due within one year		35		35		655		1,040
Long-term debt, less amount due within one year		8,797		9,335		7,607		7,863

Accumulated Other Comprehensive Loss - Summary of Changes in Accumulated Other Comprehensive Loss by Component (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Pension and other postretirement benefits
Total Other comprehensive income (loss)	$ 122	$ 124	$ 214	$ 283
Foreign currency translation
Other comprehensive loss	(1,000)	(36)	(464)	(988)
Available-for-sale securities
Other comprehensive (loss) income	(1)	1	0	(1)
Cash flow hedges (P)
Total Other comprehensive (loss) income	(14)	(49)	(11)	135
Alcoa [Member]
Pension and other postretirement benefits
Balance at beginning of period	(3,441)	(3,907)	(3,532)	(4,063)
Unrecognized net actuarial loss and prior service cost/benefit	96	46	33	19
Tax (expense) benefit	(33)	(12)	(8)	2
Total Other comprehensive income before reclassifications, net of tax	63	34	25	21
Amortization of net actuarial loss and prior service cost/benefit	97	135	296	395
Tax (expense) benefit	(34)	(47)	(104)	(138)
Total amount reclassified from Accumulated other comprehensive loss, net of tax	63	88	192	257
Total Other comprehensive income (loss)	126	122	217	278
Balance at end of period	(3,315)	(3,785)	(3,315)	(3,785)
Foreign currency translation
Balance at beginning of period	569	428	179	1,147
Other comprehensive loss	(774)	(4)	(384)	(723)
Balance at end of period	(205)	424	(205)	424
Available-for-sale securities
Balance at beginning of period	3	1	2	3
Other comprehensive (loss) income	(1)	1	0	(1)
Balance at end of period	2	2	2	2
Cash flow hedges (P)
Balance at beginning of period	(299)	(305)	(308)	(489)
Net change from periodic revaluations	(35)	(70)	(31)	151
Tax benefit (expense)	11	14	7	(31)
Total Other comprehensive (loss) income before reclassifications, net of tax	(24)	(56)	(24)	120
Net amount reclassified to earnings	6	8	17	16
Tax expense	(1)	(2)	(3)	(2)
Total amount reclassified from Accumulated other comprehensive loss, net of tax	5	6	14	14
Total Other comprehensive (loss) income	(19)	(50)	(10)	134
Balance at end of period	(318)	(355)	(318)	(355)
Alcoa [Member] \| Aluminum Contracts [Member]
Cash flow hedges (P)
Net amount reclassified to earnings	7	5	18	12
Alcoa [Member] \| Foreign Exchange Contracts [Member]
Cash flow hedges (P)
Net amount reclassified to earnings	(1)	3	(2)	3
Alcoa [Member] \| Interest Rate Contracts [Member]
Cash flow hedges (P)
Net amount reclassified to earnings			1	1
Noncontrolling Interests [Member]
Pension and other postretirement benefits
Balance at beginning of period	(50)	(74)	(51)	(77)
Unrecognized net actuarial loss and prior service cost/benefit	(9)		(9)
Tax (expense) benefit	3		3
Total Other comprehensive income before reclassifications, net of tax	(6)		(6)
Amortization of net actuarial loss and prior service cost/benefit	3	2	5	7
Tax (expense) benefit	(1)		(2)	(2)
Total amount reclassified from Accumulated other comprehensive loss, net of tax	2	2	3	5
Total Other comprehensive income (loss)	(4)	2	(3)	5
Balance at end of period	(54)	(72)	(54)	(72)
Foreign currency translation
Balance at beginning of period	36	24	(110)	257
Other comprehensive loss	(226)	(32)	(80)	(265)
Balance at end of period	(190)	(8)	(190)	(8)
Available-for-sale securities
Other comprehensive (loss) income	0	0	0	0
Cash flow hedges (P)
Balance at beginning of period	(8)	(5)	(2)	(5)
Net change from periodic revaluations	7	2	(2)	2
Tax benefit (expense)	(2)	(1)	1	(1)
Total Other comprehensive (loss) income before reclassifications, net of tax	5	1	(1)	1
Total Other comprehensive (loss) income	5	1	(1)	1
Balance at end of period	$ (3)	$ (4)	$ (3)	$ (4)

Restructuring and Other Charges - Additional Information (Detail) $ in Millions	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2014 USD ($) Employees Plant Potline t	Mar. 31, 2014 Plant t	Sep. 30, 2013 USD ($) Location Employees t	Jun. 30, 2013 Potline t	Sep. 30, 2014 USD ($) Employees Plant Facilities t	Sep. 30, 2013 USD ($) Location Employees	Dec. 31, 2013 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	$ 209		$ 151		$ 780	$ 402
Restructuring and other charges, after-tax and noncontrolling interest	175		$ 108		$ 503	$ 283
Restructuring and other charges, gain on sale of assets	5
Restructuring and other charges, gain on sale of assets after-tax	4
Number of employees associated with layoff costs \| Employees						510
Reduction in production - result of market conditions, in metric tons per year \| t			460,000		460,000
Remaining smelting capacity subject to review \| t					62,000
Additional smelting capacity subject to review \| t					85,000
Reduction in combined capacity \| t		200,000
Number of employees associated with layoff costs \| Employees					1,780
Other layoff cost including reclassification in pension cost					$ 216		$ 185
Accelerated depreciation	40		$ 35		190	$ 58
Other asset impairment charges	$ 74				165
Additional charges related to shutdown actions					25
Number of non-U.S. locations permanently shutdown and demolished \| Location			2			3
Capacity of lines under review period			15 months
Minimum amount of cash payments expected to be paid beyond the end of the current annual period					75
Maximum amount of cash payments expected to be paid beyond the end of the current annual period					$ 80
Engineered Products and Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees associated with layoff costs \| Employees					115	170
Global Rolled Products Segment [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees associated with layoff costs \| Employees					30
Alumina and Primary Metals Segments [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees associated with layoff costs \| Employees					10
Primary Metals [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees associated with layoff costs \| Employees						120
Number of employees associated with layoff costs \| Employees					1,200
Global Rolled Products [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees associated with layoff costs \| Employees						190
Number of employees associated with layoff costs \| Employees					470
Alumina [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees associated with layoff costs \| Employees					80
Fusina and Massena East [Member]
Restructuring Cost and Reserve [Line Items]
Reduction in production - result of market conditions, in metric tons per year \| t		84,000
Other asset impairment charges			$ 4			$ 18
Point Henry Smelter [Member]
Restructuring Cost and Reserve [Line Items]
Reduction in production - result of market conditions, in metric tons per year \| t		190,000
Pocos De Caldas Refinery [Member]
Restructuring Cost and Reserve [Line Items]
Reduction in production - result of market conditions, in metric tons per year \| t					200,000
Australia [Member]
Restructuring Cost and Reserve [Line Items]
Number of facilities accelerated depreciation write off \| Facilities					3
Baie Comeau [Member]
Restructuring Cost and Reserve [Line Items]
Number of potlines to be shutdown and demolished \| Potline	1			2
Reduction in production - result of market conditions, in mt per year \| t				105,000
Quebec Canada [Member]
Restructuring Cost and Reserve [Line Items]
Reduction in production - result of market conditions, in mt per year \| t	41,000
Reduction in production - result of market conditions, in mt per year \| t				280,000
Fusina Italy [Member]
Restructuring Cost and Reserve [Line Items]
Reduction in production - result of market conditions, in metric tons per year \| t	84,000
Reduction in production - result of market conditions, in mt per year \| t				44,000
Portovesme [Member]
Restructuring Cost and Reserve [Line Items]
Reduction in production - result of market conditions, in metric tons per year \| t	150,000
Other Exit Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	$ 220		152		$ 663	238
Restructuring and other charges, after-tax and noncontrolling interest	186		109		426	179
Other layoff cost including reclassification in pension cost					176		84
Legal Matter [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges						103
Restructuring and other charges, after-tax and noncontrolling interest						62
Asset Impairment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges					33	29
Restructuring and other charges, after-tax and noncontrolling interest					26	19
Layoff Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges					18	27
Restructuring and other charges, after-tax and noncontrolling interest					11	20
Other layoff cost including reclassification in pension cost					40		101
Layoff Costs [Member] \| Primary Metals [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	60				197
Other Miscellaneous Items [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	4		1			9
Restructuring and other charges, after-tax and noncontrolling interest	2		1			6
Small Layoff Reserves Related to Prior Periods [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	10		2		17	4
Restructuring and other charges, after-tax and noncontrolling interest	9		2		13	3
Permanent Shutdown and Planned Demolition of Idled Structures [Member]
Restructuring Cost and Reserve [Line Items]
Other exit costs	45		6		178	55
Operating Supplies [Member]
Restructuring Cost and Reserve [Line Items]
Inventory write-down - permanent shutdown and planned demolition of idled structures	33		2		67	9
Inventory write-down, after-tax and non-controlling interests	27		1		47	6
Asset Retirement Obligations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges					95		58
Other exit costs	40		48		95	48
Environmental Remediation [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges					47		12
Other exit costs	4		5		42	5
Smelter Curtailments [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges					67
Restructuring and other charges, after-tax and noncontrolling interest					$ 44
Number of employees associated with layoff costs \| Employees					245
Supplier And Customer Contract [Member]
Restructuring Cost and Reserve [Line Items]
Other exit costs	$ 1		2		$ 41	2
Restructuring Programs Layoffs 2014 [Member]
Restructuring Cost and Reserve [Line Items]
Total number of employees already laid off \| Employees	1,300				1,300
Number of positions separated \| Employees					2,025
Cash payments made against the layoff reserves	$ 66				$ 89
Pension Costs [Member]
Restructuring Cost and Reserve [Line Items]
Other layoff cost including reclassification in pension cost			78		$ 18	78	$ 92
Restructuring Programs Layoffs 2013 [Member]
Restructuring Cost and Reserve [Line Items]
Total number of employees already laid off \| Employees	1,390				1,390
Number of positions separated \| Employees					1,620
Cash payments made against the layoff reserves	$ 4				$ 36
Exit Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges			$ 107			$ 107
Exit Costs [Member] \| Primary Metals [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees associated with layoff costs \| Employees			520			520
Corporate [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	$ 2		$ 1		$ 34	$ 126
Number of employees associated with layoff costs \| Employees					90	30
Number of employees associated with layoff costs \| Employees					30
Corporate [Member] \| Other Miscellaneous Items [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges					$ 16
Restructuring and other charges, after-tax and noncontrolling interest					$ 9
Rolling Mill [Member]
Restructuring Cost and Reserve [Line Items]
Number of plants permanently shut down and demolished \| Plant	2	2			2
Smelter [Member]
Restructuring Cost and Reserve [Line Items]
Number of plants permanently shut down and demolished \| Plant	2				3
Number of plants temporarily curtailed \| Plant					2
Refinery [Member] \| Smelter Curtailments [Member]
Restructuring Cost and Reserve [Line Items]
Number of plants temporarily curtailed \| Plant					1

Restructuring and Other Charges - Schedule of Restructuring and Other Charges by Reportable Segments, Pretax (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	$ 209	$ 151	$ 780	$ 402
Operating Segments [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	207	150	746	276
Corporate [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	2	1	34	126
Alumina [Member] \| Operating Segments [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	1		8
Primary Metals [Member] \| Operating Segments [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	193	$ 150	608	244
Global Rolled Products [Member] \| Operating Segments [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	$ 13		126	10
Engineered Products and Solutions [Member] \| Operating Segments [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges			$ 4	$ 22

Restructuring and Other Charges - Activity and Reserve Balances for Restructuring Charges (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Restructuring Cost and Reserve [Line Items]
Restructuring reserve beginning balance	$ 138	$ 111
Cash payments	(151)	(74)
Restructuring charges	401	286
Other	(216)	(185)
Restructuring reserve ending balance	172	138
Layoff Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve beginning balance	96	59
Cash payments	(136)	(63)
Restructuring charges	215	201
Other	(40)	(101)
Restructuring reserve ending balance	135	96
Other Exit Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve beginning balance	42	52
Cash payments	(15)	(11)
Restructuring charges	186	85
Other	(176)	(84)
Restructuring reserve ending balance	$ 37	$ 42

Restructuring and Other Charges - Activity and Reserve Balances for Restructuring Charges (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	$ 209	$ 151	$ 780	$ 402
Other layoff cost including reclassification in pension cost			216		$ 185
Asset Retirement Obligations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges			95		58
Environmental Remediation [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges			47		12
Pension Costs [Member]
Restructuring Cost and Reserve [Line Items]
Other layoff cost including reclassification in pension cost		$ 78	$ 18	$ 78	$ 92

Acquisitions and Divestitures - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 25, 2014	Aug. 31, 2014	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Business Acquisition [Line Items]
Common stock issued as part of acquisition	36,523,010
Business acquisition common stock issued, price per share	$ 13.69
Interest expenses			$ 126	$ 108	$ 351	$ 341
Firth Rixson [Member]
Business Acquisition [Line Items]
Business acquisition purchase price	$ 2,850
Cash paid for business acquisition	2,350
Value of common stock issued	500
Business acquisition potential earn-out	$ 150
Common stock issued as part of acquisition	36,523,010
Business acquisition common stock issued, price per share	$ 13.69
Business acquisition, unsecured bridge term loan	$ 2,500
Interest expenses	13
Interest expenses, after tax	$ 8
Percentage of acquisition of outstanding noncontrolling interest		30.00%
Acquisition of outstanding noncontrolling interest, amount paid		$ 28
Difference between purchase price and carrying value of noncontrolling interest		$ 3

Inventories - Schedule of Inventory Components (Detail) - USD ($) $ in Millions	Sep. 30, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]
Finished goods	$ 725	$ 578
Work-in-process	1,054	828
Bauxite and alumina	601	581
Purchased raw materials	541	474
Operating supplies	217	244
Inventories, total	$ 3,138	$ 2,705

Inventories - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]
Inventories valued on a last in, first out (LIFO) basis	$ 1,469	$ 1,169
Total inventories valued on an average-cost basis	$ 742	$ 691

Debt - Additional Information (Detail) $ / shares in Units, shares in Millions		3 Months Ended			9 Months Ended	12 Months Ended
	Jul. 25, 2014 USD ($)	Sep. 30, 2014 USD ($)	Jun. 30, 2014 USD ($)	Mar. 31, 2014 USD ($) $ / shares shares	Sep. 30, 2014 USD ($)	Dec. 31, 2013 USD ($) CreditFacility
Debt Instrument [Line Items]
Principal amount of convertible notes		$ 1,250,000,000			$ 1,250,000,000
Proceeds from issuance of public debt offering					$ 1,238,000,000
Debt instrument redemption price percentage					101.00%
Limit of requested increases in lender commitments	$ 500,000,000
Line of credit facility, outstanding borrowings	4,000,000,000
Letters of credit sublimit under credit facility	$ 1,000,000,000
Line of credit facility borrowing capacity		510,000,000	$ 510,000,000	$ 620,000,000	$ 510,000,000
Extended credit facility maturity date					Jul. 25, 2019
Extension of maturity period					1 year
Agreement termination date					Jun. 25, 2014
Line of credit facility, repayment		$ 510,000,000	$ 510,000,000	$ 620,000,000
Weighted-average interest rate		1.55%	1.55%	1.53%
Weighted-average maturity days		73 days	84 days	49 days
Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Credit facility, term	5 years				5 years
Debt instrument, maturity date					July 25, 2017
Commercial Paper [Member]
Debt Instrument [Line Items]
Fees paid to maintain credit facility					0.25%
Outstanding borrowings		$ 3,750,000,000			$ 3,750,000,000
Minimum [Member]
Debt Instrument [Line Items]
Applicable margin on LIBOR loans					0.50%
Maximum [Member]
Debt Instrument [Line Items]
Applicable margin on LIBOR loans					1.50%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Number of revolving credit facility agreements \| CreditFacility						10
Limit of requested increases in lender commitments		200,000,000			$ 200,000,000	$ 1,190,000,000
Revolving credit facility term start						2014-02
Revolving credit facility term end						2015-12
Revolving Credit Facility [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility borrowing capacity		$ 1,040,000,000			1,040,000,000
Revolving Credit Facility [Member] \| First Loans Agreement [Member]
Debt Instrument [Line Items]
Limit of requested increases in lender commitments				$ 150,000,000
Line of credit facility, expiration date				2014-02
Extended credit facility maturity date				2015-03
Revolving Credit Facility [Member] \| Second Loans Agreement [Member]
Debt Instrument [Line Items]
Limit of requested increases in lender commitments				$ 150,000,000
Line of credit facility, expiration date				2014-03
Revolving Credit Facility [Member] \| Third Loans Agreement [Member]
Debt Instrument [Line Items]
Line of credit facility, expiration date				2016-03
Line of credit facility, new agreement date				2014-04
Revolving Credit Facility [Member] \| Eleventh Revolving Credit Facility Agreement [Member]
Debt Instrument [Line Items]
Limit of requested increases in lender commitments				$ 50,000,000
Line of credit facility, expiration date				2016-02
Revolving Credit Facility 2016 [Member]
Debt Instrument [Line Items]
Line of credit facility extended period		2016-09
Revolving Credit Facility 2016 [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility borrowing capacity		$ 300,000,000			300,000,000
Revolving Credit Facility 2015 [Member]
Debt Instrument [Line Items]
Line of credit facility extended period		2015-10
Revolving Credit Facility 2015 [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility borrowing capacity		$ 400,000,000			400,000,000
Revolving Credit Facility 2014 [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility borrowing capacity		340,000,000			340,000,000
Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, outstanding borrowings		0			$ 0
Amounts borrowed under the credit facility		$ 0
5.25% Convertible Notes Due March 15, 2014 [Member]
Debt Instrument [Line Items]
Principal amount of convertible notes				$ 575,000,000
Convertible notes, interest rate				5.25%
Convertible notes due date				Mar. 15, 2014
Number of shares, option exercised \| shares				89
Conversion rate, numerator				155.4908
Conversion rate, denominator \| $ / shares				$ 1,000
Convertible notes, conversion price \| $ / shares				6.43
Par value of issued shares \| $ / shares				$ 89
5.125% Senior Notes Due 2024 [Member]
Debt Instrument [Line Items]
Convertible notes, interest rate		5.125%			5.125%

Contingencies and Commitments - Additional Information (Detail)		1 Months Ended				9 Months Ended
	Nov. 19, 2009 EUR (€) Plant	Jul. 31, 2012 Plant	Jun. 30, 2012 EUR (€) Installment	Jun. 30, 2012 USD ($) Installment	Nov. 30, 2006 Person	Sep. 30, 2014 EUR (€)	Sep. 30, 2014 USD ($)	Feb. 21, 2013 EUR (€)	Feb. 21, 2013 USD ($)	Dec. 31, 2012 t	Jun. 30, 2012 USD ($)	Mar. 26, 2012 EUR (€)	Mar. 26, 2012 USD ($)	Sep. 30, 2010 t	Nov. 19, 2009 USD ($)
Loss Contingencies [Line Items]
Management estimate for maximum exposure from class action												€ 85,000,000	$ 110,000,000
Number of smelters \| Plant		2
Recovery amount			€ 303,000,000	$ 375,000,000
Owed by the Italian Government			53,000,000								$ 65,000,000
Payments to Italian Government			250,000,000	310,000,000
Payments to Italian Government, installments amount			€ 50,000,000	$ 69,000,000
Number of installments, litigation payment \| Installment			5	5
Litigation reserve			€ 159,000,000								202,000,000
Range of reasonable possible loss, minimum			159,000,000								202,000,000
Range of reasonable possible loss, maximum			€ 303,000,000								$ 385,000,000
Number of days to appeal verdict from the General Court of the EU						60 days
Amount of curtailment, metric-tons-per-year \| t														44,000
Minimum [Member]
Loss Contingencies [Line Items]
Provision for contract losses \| $									$ 0
Maximum [Member]
Loss Contingencies [Line Items]
Provision for contract losses								€ 76,000,000	$ 97,000,000
Curtis v. Alcoa Inc. [Member]
Loss Contingencies [Line Items]
Retired former employees involved in class action \| Person					13,000
Alcoa [Member]
Loss Contingencies [Line Items]
Owed by the Italian Government						€ 53,000,000	$ 67,000,000
Litigation reserve \| $							0
Noncurrent asset						€ 91,000,000	$ 116,000,000
Italian Government [Member]
Loss Contingencies [Line Items]
Charge related to European Commission announcement	€ 173,000,000														$ 250,000,000
Number of smelters \| Plant	2
Write-off of receivable	€ 14,000,000														20,000,000
Establishment reserve	€ 159,000,000														$ 230,000,000
Portovesme [Member]
Loss Contingencies [Line Items]
Amount of curtailment, metric-tons-per-year \| t										150,000

Contingencies and Commitments - Additional Information - 1 (Detail)	3 Months Ended		9 Months Ended	12 Months Ended
	Sep. 30, 2014 USD ($)	Jun. 30, 2014 USD ($)	Sep. 30, 2014 USD ($)	Dec. 31, 2009 USD ($)	Dec. 31, 2013 USD ($)	Jun. 30, 2012 EUR (€)	Jun. 30, 2012 USD ($)	Jan. 31, 2007 EUR (€)	Jan. 31, 2007 USD ($)
Loss Contingencies [Line Items]
Loss contingency, range of possible loss, maximum						€ 303,000,000	$ 385,000,000
Number of cleanup locations			More than 100
Remediation reserve balance	$ 563,000,000		$ 563,000,000		$ 509,000,000
Remediation reserve balance, classified as a current liability	66,000,000		66,000,000		$ 48,000,000
Increase in remediation reserve			42,000,000
Remediation reserve adjustment	5,000,000		47,000,000
Payments related to remediation expenses applied against the reserve	13,000,000		33,000,000
Increase (Decrease) in reserves due to effects of foreign currency translation	(6,000,000)		$ 24,000,000
Actual remediation fieldwork period			4 years
Minimum [Member]
Loss Contingencies [Line Items]
Planning and design phase period			2 years
Majority of the project funding period			2016
Maximum [Member]
Loss Contingencies [Line Items]
Planning and design phase period			3 years
Majority of the project funding period			2020
Recurring Costs of Managing Hazardous Substances and Environmental Programs [Member]
Loss Contingencies [Line Items]
Percentage of cost of goods sold			2.00%
Tariffs Granted by Spain [Member]
Loss Contingencies [Line Items]
Loss contingency, range of possible loss, maximum								€ 70,000,000	$ 90,000,000
Massena West, NY [Member]
Loss Contingencies [Line Items]
Remediation reserve balance	240,000,000		$ 240,000,000
Sherwin, TX site [Member]
Loss Contingencies [Line Items]
Remediation reserve balance	33,000,000		$ 33,000,000
Sherwin, TX site [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Guarantees, expiration date			2014
Sherwin, TX site [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Guarantees, expiration date			2019
East St. Louis, IL Site [Member]
Loss Contingencies [Line Items]
Remediation reserve balance	17,000,000		$ 17,000,000
East St. Louis, IL Site [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Majority of the project funding period			2014
East St. Louis, IL Site [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Majority of the project funding period			2015
Grasse River [Member]
Loss Contingencies [Line Items]
Increase in remediation reserve	11,000,000		$ 63,000,000
Portovesme [Member]
Loss Contingencies [Line Items]
Increase in remediation reserve		$ 3,000,000		$ 3,000,000
Remediation reserve adjustment	4,000,000		3,000,000
Other Sites [Member]
Loss Contingencies [Line Items]
Remediation reserve adjustment	$ 7,000,000		18,000,000
Massena East, Ny and Point Henry and Yennora, Australia and Portovesme [Member]
Loss Contingencies [Line Items]
Remediation reserve adjustment			$ 42,000,000

Contingencies and Commitments - Additional Information - 2 (Detail) R$ in Millions, ر.س in Billions					1 Months Ended				3 Months Ended			9 Months Ended				12 Months Ended				33 Months Ended		36 Months Ended	63 Months Ended	93 Months Ended
	Feb. 27, 2014 EUR (€)	Feb. 27, 2014 USD ($)	Apr. 08, 2013 USD ($)	Apr. 08, 2013 BRL (R$)	Jan. 31, 2014 USD ($)	Mar. 31, 2013 USD ($)	May 31, 2012 USD ($)	May 31, 2012 BRL (R$)	Sep. 30, 2014 USD ($)	Sep. 30, 2014 AUD ($)	Jun. 30, 2014 USD ($)	Sep. 30, 2014 USD ($) MWh Entity Agency	Sep. 30, 2014 BRL (R$) MWh Entity Agency	Sep. 30, 2014 AUD ($) MWh Entity Agency	Sep. 30, 2014 SAR (ر.س) MWh Entity Agency	Dec. 31, 2012 USD ($)	Dec. 31, 2009 USD ($)	Dec. 31, 2004 USD ($)	Dec. 31, 2004 AUD ($)	Sep. 30, 2014 USD ($)	Sep. 30, 2014 AUD ($)	Dec. 31, 2002 t	Sep. 30, 2014 USD ($)	Sep. 30, 2011 USD ($)	Sep. 30, 2011 AUD ($)	Sep. 30, 2014 EUR (€)	Sep. 30, 2014 USD ($)	Sep. 30, 2014 BRL (R$)	Sep. 30, 2014 AUD ($)	Apr. 11, 2014	Dec. 31, 2013 USD ($)	Apr. 08, 2013 BRL (R$)	Mar. 31, 2013 BRL (R$)	Jun. 30, 2012 EUR (€)	Jun. 30, 2012 USD ($)
Loss Contingencies [Line Items]
Increase in remediation reserve												$ 42,000,000
Total combined assessments																										€ 242,000,000	$ 307,000,000
Alcoa's maximum exposure to loss in projects																																		€ 303,000,000	$ 385,000,000
Maaden Alcoa Joint Venture [Member]
Loss Contingencies [Line Items]
Number of companies in Saudi Arabian joint venture \| Entity												3	3	3	3
Amount invested by Alcoa and Aluminum Financing Limited												$ 10,800,000,000			ر.س 40.5
Maaden Alcoa Joint Venture Smelter And Rolling Mill Companies [Member]
Loss Contingencies [Line Items]
Capital investment																											4,515,000,000
Maaden Alcoa Joint Venture Mine And Refinery Company [Member]
Loss Contingencies [Line Items]
Capital investment					$ 240,000,000																						1,992,000,000
Maaden Alcoa Joint Venture Smelter And Rolling Mill Companies [Member]
Loss Contingencies [Line Items]
Capital investment																											$ 1,133,000,000
Maaden Alcoa Joint Venture [Member]
Loss Contingencies [Line Items]
Investment percentage in Australian Project																										25.10%	25.10%	25.10%	25.10%
Amount invested by Alcoa and Aluminum Financing Limited												1,100,000,000
Additional contributions									$ 4,000,000			$ 87,000,000											$ 919,000,000
Equity method investment, carrying value																											$ 956,000,000				$ 951,000,000
Number of agencies needed to downgrade Alcoa's credit rating below investment grade in order to require Alcoa to provide a letter of credit or fund an escrow account \| Agency												2	2	2	2
Minimum percentage of equity commitment required																										67.00%	67.00%	67.00%	67.00%	67.00%
Maaden Alcoa Joint Venture Mine And Refinery Company [Member]
Loss Contingencies [Line Items]
Capital investment					$ 60,000,000																						$ 500,000,000
Percentage of amount required to be contributed in the event Alcoa would be required to make payments under the guarantees												40.00%	40.00%	40.00%	40.00%
Dampier to Bunbury Natural Gas Pipeline [Member]
Loss Contingencies [Line Items]
Investment percentage in Australian Project																		20.00%	20.00%
Additional contributions																		$ 17,000,000	$ 24,000,000					$ 141,000,000	$ 176,000,000
Other Noncurrent Liabilities and Deferred Credits [Member] \| Maaden Alcoa Joint Venture Smelter And Rolling Mill Companies [Member]
Loss Contingencies [Line Items]
Guarantee issued on behalf of smelting and rolling mill companies																											8,000,000				10,000,000
Other Noncurrent Liabilities and Deferred Credits [Member] \| Maaden Alcoa Joint Venture Mine And Refinery Company [Member]
Loss Contingencies [Line Items]
Guarantee issued on behalf of smelting and rolling mill companies																											3,000,000				$ 4,000,000
State and Local Jurisdiction [Member]
Loss Contingencies [Line Items]
Total combined assessments																											51,000,000	R$ 125
Financial Guarantee [Member] \| Maaden Alcoa Joint Venture Smelter And Rolling Mill Companies [Member]
Loss Contingencies [Line Items]
Debt service requirements, principal												$ 193,000,000
Debt service requirements, interest maximum												60,000,000
Financial Guarantee [Member] \| Maaden Alcoa Joint Venture Mine And Refinery Company [Member]
Loss Contingencies [Line Items]
Debt service requirements, principal												120,000,000
Debt service requirements, interest maximum												$ 30,000,000
Estreito Project [Member]
Loss Contingencies [Line Items]
Investment percentage in Brazilian project												25.49%	25.49%	25.49%	25.49%
Assured power from installed capacity \| MWh												150	150	150	150
Estimated project costs												$ 2,110,000,000	R$ 5,170
Aluminio's share of project												540,000,000	1,320
Commitment expended on the project												520,000,000	R$ 1,270
Three-Year Equity Call Plan [Member] \| Dampier to Bunbury Natural Gas Pipeline [Member]
Loss Contingencies [Line Items]
Amount invested by Alcoa and Aluminum Financing Limited																				$ 40,000,000	$ 40,000,000
Additional contributions									$ 5,000,000	$ 5,000,000		$ 8,000,000		$ 9,000,000						$ 37,000,000	$ 38,000,000
Prepayments made under the agreement for future gas transmission services																											312,000,000		$ 358,000,000
Alcoa's maximum exposure to loss in projects																											$ 430,000,000		$ 500,000,000
Ligestra [Member]
Loss Contingencies [Line Items]
Costs and payments	€ 12,000,000	$ 17,000,000
Costs and payments related to damages	6,000,000	9,000,000
Payment period												10 years	10 years	10 years	10 years
Ligestra [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Percentage of payments and remediation costs					50.00%
Ligestra [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Percentage of payments and remediation costs					80.00%
Italian Ministry of Environment and Protection of Land and Sea[Member]
Loss Contingencies [Line Items]
Soil remediation project, estimated cost	24,000,000	33,000,000
Payments for emergency action and natural resource damages	€ 18,000,000	$ 25,000,000
Alcoa World Alumina Brasil [Member]
Loss Contingencies [Line Items]
Disallowed tax credits						$ 110,000,000																											R$ 220
Percentage of penalty of the gross disallowed amount						50.00%
Value added tax receivable							$ 41,000,000	R$ 82
Estimated range of reasonably possible loss, minimum \| R$				R$ 155
Administrative appeal, assessment period			2 years	2 years
Alcoa World Alumina Brasil [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Estimated range of reasonably possible loss, minimum			$ 0
Alcoa World Alumina Brasil [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Estimated range of reasonably possible loss, minimum			60,000,000
Alcoa World Alumina Brasil [Member] \| Fixed Assets [Member]
Loss Contingencies [Line Items]
Disallowed tax credits \| R$																																R$ 175
Alcoa World Alumina Brasil [Member] \| Fixed Assets [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Disallowed tax credits			0
Alcoa World Alumina Brasil [Member] \| Fixed Assets [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Disallowed tax credits			$ 70,000,000
Alcoa Aluminio [Member]
Loss Contingencies [Line Items]
Metal sold per month \| t																						2,000
Maaden Company [Member] \| Maaden Alcoa Joint Venture [Member]
Loss Contingencies [Line Items]
Ownership interest issued as guarantee for Saudi Arabian Joint Venture																										74.90%	74.90%	74.90%	74.90%
Portovesme [Member]
Loss Contingencies [Line Items]
Increase in remediation reserve											$ 3,000,000						$ 3,000,000
Baie Comeau [Member]
Loss Contingencies [Line Items]
Increase in remediation reserve																$ 25,000,000
Mosjoen [Member]
Loss Contingencies [Line Items]
Increase in remediation reserve																$ 20,000,000
Fusina [Member]
Loss Contingencies [Line Items]
Increase in remediation reserve																	$ 12,000,000

Other Expenses (Income), Net - Schedule of Other Expenses (Income), Net (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Other Income and Expenses [Abstract]
Equity loss	$ 16	$ 18	$ 84	$ 40
Interest income	(3)	(3)	(13)	(11)
Foreign currency gains, net	(5)	(4)		(15)
Net gain from asset sales	(15)	(1)	(44)	(7)
Net loss (gain) on mark-to-market derivative contracts	20	(17)	17	(18)
Other, net	10		9	(4)
Other (income) expenses, net	$ 23	$ (7)	$ 53	$ (15)

Segment Information - Schedule of Operating Results of Alcoa's Reportable Segment (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment Reporting Information [Line Items]
Total sales	$ 6,239	$ 5,765	$ 17,529	$ 17,447
Equity loss	(15)	(18)	(83)	(40)
Depreciation, depletion, and amortization	326	327	973	1,009
Income taxes	263	124	584	377
After-tax operating income (ATOI)	619	338	1,362	993
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total sales	7,436	6,939	21,136	21,186
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Intersegment sales	1,264	1,251	3,793	3,925
Third-Party Sales [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Third-party sales	6,172	5,688	17,343	17,261
Alumina [Member]
Segment Reporting Information [Line Items]
Equity loss	(7)	(2)	(19)	(2)
Depreciation, depletion, and amortization	100	100	297	324
Income taxes	26	17	78	45
After-tax operating income (ATOI)	62	67	192	189
Alumina [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total sales	1,368	1,359	3,964	4,183
Alumina [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Intersegment sales	482	513	1,472	1,689
Alumina [Member] \| Third-Party Sales [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Third-party sales	886	846	2,492	2,494
Primary Metals [Member]
Segment Reporting Information [Line Items]
Equity loss		(13)	(45)	(29)
Depreciation, depletion, and amortization	124	131	377	398
Income taxes	95	(16)	114	(40)
After-tax operating income (ATOI)	245	8	327	15
Primary Metals [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total sales	2,595	2,291	7,130	7,073
Primary Metals [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Intersegment sales	730	691	2,182	2,095
Primary Metals [Member] \| Third-Party Sales [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Third-party sales	1,865	1,600	4,948	4,978
Global Rolled Products [Member]
Segment Reporting Information [Line Items]
Equity loss	(8)	(3)	(19)	(9)
Depreciation, depletion, and amortization	62	56	178	168
Income taxes	42	32	99	103
After-tax operating income (ATOI)	103	71	241	231
Global Rolled Products [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total sales	1,978	1,852	5,602	5,602
Global Rolled Products [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Intersegment sales	52	47	139	141
Global Rolled Products [Member] \| Third-Party Sales [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Third-party sales	1,926	1,805	5,463	5,461
Engineered Products and Solutions [Member]
Segment Reporting Information [Line Items]
Depreciation, depletion, and amortization	40	40	121	119
Income taxes	100	91	293	269
After-tax operating income (ATOI)	209	192	602	558
Engineered Products and Solutions [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total sales	1,495	1,437	4,440	4,328
Engineered Products and Solutions [Member] \| Third-Party Sales [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Third-party sales	$ 1,495	$ 1,437	$ 4,440	$ 4,328

Segment Information - Schedule of Segment ATOI to Consolidated Net Income Attributable to Alcoa (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment Reporting Information [Line Items]
Total segment ATOI	$ 619	$ 338	$ 1,362	$ 993
Interest expense	(126)	(108)	(351)	(341)
Noncontrolling interests	(18)	20	(46)	12
NET INCOME ATTRIBUTABLE TO ALCOA	149	24	109	54
Unallocated Amounts (Net of Tax) [Member]
Segment Reporting Information [Line Items]
Impact of LIFO	(18)	9	(33)	12
Interest expense	(81)	(70)	(228)	(221)
Noncontrolling interests	18	(20)	46	(12)
Corporate expense	(74)	(74)	(211)	(212)
Restructuring and other charges	(189)	(108)	(587)	(324)
Other	$ (126)	$ (51)	$ (240)	$ (182)

Preferred and Common Stock - Additional Information (Detail) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2014 $ / shares shares	Sep. 30, 2013 $ / shares	Sep. 30, 2014 USD ($) $ / shares shares	Sep. 30, 2013 $ / shares	Mar. 31, 2014 $ / shares shares
Class of Stock [Line Items]
Transaction date of public offering			Jul. 30, 2014
Public offering of preferred stock \| $			$ 1,250
Depository shares \| shares			25,000,000
Interest in preferred stock	0.1		0.1
Proceeds from public offering \| $			$ 1,213
Preferred stock dividend declared	$ 0.09375	$ 1.875	$ 2.8125	$ 3.75
Common stock shares, issued \| shares	1,267,290,820		1,267,290,820
Common stock shares, Authorized \| shares					1,800,000,000
Common stock shares, outstanding \| shares	1,177,672,033		1,177,672,033
5.25% Convertible Notes Due March 15, 2014 [Member]
Class of Stock [Line Items]
Common stock shares, issued \| shares					89
Common stock shares					$ 1
Debt Instrument, Interest Rate, Stated Percentage					5.25%
IPO [Member]
Class of Stock [Line Items]
Underwriter 30-day common stock options			30 days
IPO [Member] \| Depository Shares [Member]
Class of Stock [Line Items]
Additional shares granted \| shares			3,750,000
Maximum [Member]
Class of Stock [Line Items]
Preferred stock conversion price	$ 30.9406		$ 30.9406
Minimum [Member]
Class of Stock [Line Items]
Preferred stock conversion price	$ 25.7838		$ 25.7838
Class B Mandatory Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Percentage ownership			5.375%
Preferred stock issued \| shares	10,000,000		10,000,000
Mandatory Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock par value	$ 1		$ 1
Preferred stock liquidation preference	$ 500		$ 500
Preferred share \| shares	2,500,000		2,500,000
Preferred stock dividend declared			$ 26.8750
Percentage redemption of preferred shares			101.00%
Termination date of preferred stock			Apr. 01, 2015
Preferred stock conversion date			Oct. 01, 2017
Mandatory Convertible Preferred Stock [Member] \| IPO [Member]
Class of Stock [Line Items]
Additional shares granted \| shares			375,000
Mandatory Convertible Preferred Stock [Member] \| Maximum [Member]
Class of Stock [Line Items]
Preferred stock conversion price	$ 30.9406		$ 30.9406
Mandatory Convertible Preferred Stock [Member] \| Minimum [Member]
Class of Stock [Line Items]
Preferred stock conversion price	25.2994		25.2994
Mandatory Convertible Preferred Stock [Member] \| Minimum [Member] \| Anti - Dilution Adjustments [Member]
Class of Stock [Line Items]
Preferred stock conversion price	$ 25.7838		$ 25.7838

Earnings per Share - Reconciliation of Information Used to Compute Basic and Diluted EPS (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share [Abstract]
Net income attributable to Alcoa common shareholders	$ 149	$ 24	$ 109	$ 54
Less: preferred stock dividends declared		1	1	2
Net income available to Alcoa common shareholders - basic	149	23	108	52
Add: preferred dividends related to mandatory convertible preferred stock
Add: interest expense related to convertible notes	0	0	0	0
Net income available to Alcoa common shareholders - diluted	$ 149	$ 23	$ 108	$ 52
Average shares outstanding - basic	1,177	1,070	1,150	1,069
Stock options	8		6	1
Stock and performance awards	12	9	11	9
Mandatory convertible preferred stock	$ 8		$ 3
Average shares outstanding - diluted	1,205	1,079	1,170	1,079

Earnings per Share - Additional Information (Detail) - $ / shares		3 Months Ended			9 Months Ended
	Jun. 25, 2014	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of shares that become outstanding		1,177,672,033			1,177,672,033
Weighted Average number of shares outstanding dilutive effect		8,000,000			6,000,000	1,000,000
Number of weighted average outstanding diluted shares		1,205,000,000		1,079,000,000	1,170,000,000	1,079,000,000
Number of common stock shares issued in a part of acquisition	36,523,010
Business acquisition common stock issued, price per share	$ 13.69
5.25% Convertible Notes Due March 15, 2014 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of shares, option exercised			89,000,000
Number of shares that become outstanding		89,000,000			89,000,000
Number of weighted average outstanding shares included in both basic and diluted shares					67,000,000
Weighted Average number of shares outstanding dilutive effect					89,000,000
Number of weighted average outstanding diluted shares					22,000,000
Equity Unit Purchase Agreements [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive securities					3,000,000	48,000,000
Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average exercise price of options		$ 16.24		$ 10.78	$ 16.24	$ 10.78
Convertible Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive securities				89,000,000	22,000,000	89,000,000

Income Taxes - Additional Information (Detail)	3 Months Ended		9 Months Ended		12 Months Ended
Income Taxes - Additional Information (Detail)	Sep. 30, 2014 USD ($)	Sep. 30, 2013 USD ($)	Sep. 30, 2014 USD ($) BusinessTaxProvision	Sep. 30, 2013 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2013 USD ($)
Income Tax Contingency [Line Items]
Effective tax rate	60.30%	41.30%	76.00%	63.70%
U.S federal statutory rate	35.00%	35.00%	35.00%	35.00%
Discrete income tax charge			$ 56,000,000
Operational losses in certain foreign jurisdictions	$ 8,000,000	$ 6,000,000	44,000,000
Income tax benefit recognized	199,000,000	31,000,000	$ 200,000,000	$ 116,000,000
Discrete income tax benefit	9,000,000
Nondeductible charges				103,000,000
Number of specific temporary business tax provisions expired during the period \| BusinessTaxProvision			2
Tax provision due to two specific temporary business tax provision that expired in 2011					$ 19,000,000
Foreign tax credits carry forward period			10 years
Noncontrolling interest	2,739,000,000		$ 2,739,000,000			$ 2,929,000,000
Maximum [Member]
Income Tax Contingency [Line Items]
Percentage of tax rate decreased			34.00%
Minimum [Member]
Income Tax Contingency [Line Items]
Percentage of tax rate decreased			15.00%
Brazil [Member]
Income Tax Contingency [Line Items]
Discrete income tax charge	56,000,000
Italy [Member]
Income Tax Contingency [Line Items]
Income tax benefit recognized	0			0
Foreign Jurisdictions [Member]
Income Tax Contingency [Line Items]
Income tax benefit recognized	0	$ 0	$ 0
Spain and Australia Authority [Member]
Income Tax Contingency [Line Items]
Discrete income tax charge				10,000,000
U.S. [Member]
Income Tax Contingency [Line Items]
Discrete income tax benefit				$ 19,000,000
Foreign Tax Authority [Member]
Income Tax Contingency [Line Items]
Decrease to the net deferred tax asset and noncash charge to earnings			56,000,000
Noncontrolling interest	$ 34,000,000		$ 34,000,000

Receivables - Additional Information (Detail)	1 Months Ended	9 Months Ended
Receivables - Additional Information (Detail)	Mar. 31, 2012 USD ($)	Sep. 30, 2014 USD ($) Agreement
Schedule Of Financial Receivables [Line Items]
Number of arrangement with different financial institution to sell customer receivables \| Agreement		3
Net cash funding received in current period		$ 250,000,000
Deferred purchase price receivable	$ 254,000,000	462,000,000
Net cash funding received		210,000,000
Amount of cash draws under arrangement		848,000,000
Amount of cash repayments under arrangement		638,000,000
Accounts receivables		15,878,000,000
Cash collections		15,206,000,000
Minimum [Member]
Schedule Of Financial Receivables [Line Items]
Funding of customer receivables sold		50,000,000
Maximum [Member]
Schedule Of Financial Receivables [Line Items]
Funding of customer receivables sold		$ 500,000,000

Pension and Other Postretirement Benefits - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 42	$ 49	$ 125	$ 148
Interest cost	157	150	476	453
Expected return on plan assets	(198)	(196)	(586)	(592)
Recognized net actuarial loss	97	122	292	369
Amortization of prior service cost (benefit)	5	4	14	14
Settlement	18		18	2
Curtailment		6		6
Special termination benefits		72		72
Net periodic benefit cost	121	207	339	472
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	4	12	13
Interest cost	28	28	86	85
Recognized net actuarial loss	4	9	10	26
Amortization of prior service cost (benefit)	(6)	(4)	(15)	(13)
Net periodic benefit cost	$ 30	$ 37	$ 93	$ 111

Pension and Other Postretirement Benefits - Additional Information (Detail) $ in Millions					3 Months Ended		6 Months Ended	9 Months Ended
	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Jun. 06, 2014 Location Employees	May 31, 2014 USD ($)	Dec. 31, 2014 USD ($)	Sep. 30, 2014 USD ($)	Jun. 30, 2014 USD ($)	Sep. 30, 2014 USD ($)	Aug. 31, 2014	Dec. 31, 2013
Scenario, Forecast [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension contributions minimum required	$ 125	$ 100
United Steelworkers Labor Agreement [Member]
Defined Benefit Plan Disclosure [Line Items]
Term of labor agreement, in years			5 years
Number of employees covered by labor agreement \| Employees			6,100
Number of locations affected by labor agreement \| Location			10
Labor agreement expired, date								May 15, 2014
Pretax costs related to preparation for and ratification of new agreement								$ 18
After-tax costs related to preparation for and ratification of new agreement								12
Discount rate used to determine pension benefit obligation				4.25%						4.80%
Increase in pension liability, plan amendment				$ 100
Accumulated (increase) decrease in net actuarial loss after-tax, plan amendment							$ (65)
Annual decrease in net periodic benefit cost, plan amendment						$ 6	$ 13	8
United Steelworkers Labor Agreement [Member] \| Scenario, Forecast [Member]
Defined Benefit Plan Disclosure [Line Items]
Annual decrease in net periodic benefit cost, plan amendment					$ 5
Postretirement Benefit Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate used to determine pension benefit obligation									4.15%	4.80%
Accumulated (increase) decrease in net actuarial loss after-tax, plan amendment								59
Annual decrease in net periodic benefit cost, plan amendment						$ 2		7
Decrease in other post benefit liability								$ 90
Postretirement Benefit Plan [Member] \| Scenario, Forecast [Member]
Defined Benefit Plan Disclosure [Line Items]
Annual decrease in net periodic benefit cost, plan amendment					$ 5

Derivatives and Other Financial Instruments - Schedule of Fair Values and Corresponding Level of Fair Value Hierarchy of Outstanding Derivative Contracts Recorded as Assets (Detail) - USD ($) $ in Millions	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2012
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives	$ 249	$ 390	$ 596
Level 1 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives	8	6
Level 3 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives	217	355
Level 2 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives	27	32
Derivatives Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives	48	69
Derivatives Designated as Hedging Instruments [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Aluminum Contracts [Member] \| Level 1 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives	8	4
Derivatives Designated as Hedging Instruments [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Aluminum Contracts [Member] \| Level 3 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives	5	9
Derivatives Designated as Hedging Instruments [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Foreign Exchange Contracts [Member] \| Level 1 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives		2
Derivatives Designated as Hedging Instruments [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Interest Rate Contracts [Member] \| Level 2 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives	6	9
Derivatives Designated as Hedging Instruments [Member] \| Other Noncurrent Assets [Member] \| Aluminum Contracts [Member] \| Level 3 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives	8	16
Derivatives Designated as Hedging Instruments [Member] \| Other Noncurrent Assets [Member] \| Interest Rate Contracts [Member] \| Level 2 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives	21	23
Derivatives Designated as Hedging Instruments [Member] \| Other Noncurrent Assets [Member] \| Energy Contracts [Member] \| Level 3 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives		6
Derivatives Not Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives	204	324
Derivatives Not Designated as Hedging Instruments [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Aluminum Contracts [Member] \| Level 3 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives	104	149
Derivatives Not Designated as Hedging Instruments [Member] \| Other Noncurrent Assets [Member] \| Aluminum Contracts [Member] \| Level 3 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives	100	175
Margin Held [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Aluminum Contracts [Member] \| Level 1 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives	3
Margin Held [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Interest Rate Contracts [Member] \| Level 2 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives		3
Margin Held [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Subtotal [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value asset derivatives	$ 3	$ 3

Derivatives and Other Financial Instruments - Schedule of Fair Values and Corresponding Level of Fair Value Hierarchy of Outstanding Derivative Contracts Recorded as Liabilities (Detail) - USD ($) $ in Millions	Sep. 30, 2014	Dec. 31, 2013
Derivative [Line Items]
Fair value liability derivatives	$ 446	$ 479
Level 1 [Member]
Derivative [Line Items]
Fair value liability derivatives	15	66
Level 3 [Member]
Derivative [Line Items]
Fair value liability derivatives	437	431
Derivatives Designated as Hedging Instruments [Member]
Derivative [Line Items]
Fair value liability derivatives	427	469
Derivatives Designated as Hedging Instruments [Member] \| Other Current Liabilities [Member] \| Aluminum Contracts [Member] \| Level 1 [Member]
Derivative [Line Items]
Fair value liability derivatives	9	45
Derivatives Designated as Hedging Instruments [Member] \| Other Current Liabilities [Member] \| Aluminum Contracts [Member] \| Level 3 [Member]
Derivative [Line Items]
Fair value liability derivatives	29	23
Derivatives Designated as Hedging Instruments [Member] \| Other Current Liabilities [Member] \| Energy Contracts [Member] \| Level 1 [Member]
Derivative [Line Items]
Fair value liability derivatives	1
Derivatives Designated as Hedging Instruments [Member] \| Other Noncurrent Liabilities and Deferred Credits [Member] \| Aluminum Contracts [Member] \| Level 1 [Member]
Derivative [Line Items]
Fair value liability derivatives	4	14
Derivatives Designated as Hedging Instruments [Member] \| Other Noncurrent Liabilities and Deferred Credits [Member] \| Aluminum Contracts [Member] \| Level 3 [Member]
Derivative [Line Items]
Fair value liability derivatives	378	387
Derivatives Designated as Hedging Instruments [Member] \| Other Noncurrent Liabilities and Deferred Credits [Member] \| Energy Contracts [Member] \| Level 3 [Member]
Derivative [Line Items]
Fair value liability derivatives	6
Derivatives Not Designated as Hedging Instruments [Member]
Derivative [Line Items]
Fair value liability derivatives	25	28
Derivatives Not Designated as Hedging Instruments [Member] \| Other Current Liabilities [Member] \| Aluminum Contracts [Member] \| Level 1 [Member]
Derivative [Line Items]
Fair value liability derivatives	1	4
Derivatives Not Designated as Hedging Instruments [Member] \| Other Current Liabilities [Member] \| Embedded Credit Derivative [Member] \| Level 3 [Member]
Derivative [Line Items]
Fair value liability derivatives	3	2
Derivatives Not Designated as Hedging Instruments [Member] \| Other Current Liabilities [Member] \| Foreign Exchange Contracts [Member] \| Level 1 [Member]
Derivative [Line Items]
Fair value liability derivatives		3
Derivatives Not Designated as Hedging Instruments [Member] \| Other Noncurrent Liabilities and Deferred Credits [Member] \| Embedded Credit Derivative [Member] \| Level 3 [Member]
Derivative [Line Items]
Fair value liability derivatives	21	19
Margin Posted [Member] \| Subtotal [Member]
Derivative [Line Items]
Fair value liability derivatives	6	18
Margin Posted [Member] \| Other Current Liabilities [Member] \| Aluminum Contracts [Member] \| Level 1 [Member]
Derivative [Line Items]
Fair value liability derivatives	5	$ 18
Margin Posted [Member] \| Other Noncurrent Liabilities and Deferred Credits [Member] \| Aluminum Contracts [Member] \| Level 1 [Member]
Derivative [Line Items]
Fair value liability derivatives	$ 1

Derivatives and Other Financial Instruments - Gross Amounts of Recognized Derivative Assets and Liabilities and Gross Amounts Offset in Accompanying Consolidated Balance Sheet (Detail) - USD ($) $ in Millions	Sep. 30, 2014	Dec. 31, 2013
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gross amounts recognized, Assets	$ 74	$ 72
Gross amounts offset, Assets	(42)	(39)
Net amounts presented in Consolidated Balance Sheet, Assets	32	33
Gross amounts recognized, Liabilities	49	84
Gross amounts offset, Liabilities	(42)	(39)
Net amounts presented in Consolidated Balance Sheet, Liabilities	7	45
Aluminum Contracts [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gross amounts recognized, Assets	47	40
Gross amounts offset, Assets	(42)	(36)
Net amounts presented in Consolidated Balance Sheet, Assets	5	4
Gross amounts recognized, Liabilities	49	81
Gross amounts offset, Liabilities	(42)	(36)
Net amounts presented in Consolidated Balance Sheet, Liabilities	7	45
Interest Rate Contracts [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gross amounts recognized, Assets	27	32
Gross amounts offset, Assets		(3)
Net amounts presented in Consolidated Balance Sheet, Assets	27	29
Gross amounts recognized, Liabilities		3
Gross amounts offset, Liabilities		(3)
Net amounts presented in Consolidated Balance Sheet, Liabilities	$ 0	$ 0

Derivatives and Other Financial Instruments - Gross Amounts of Recognized Derivative Assets and Liabilities and Gross Amounts Offset in Accompanying Consolidated Balance Sheet (Parenthetical) (Detail) - USD ($) $ in Millions	Sep. 30, 2014	Dec. 31, 2013
Offsetting [Abstract]
Margin on derivative posted with counterparties	$ 6	$ 18

Derivatives and Other Financial Instruments - Schedule of Derivative Contract Assets and Liabilities Measured and Recognized at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2012
Assets:
Fair value asset derivatives	$ 249	$ 390	$ 596
Liabilities:
Margin posted	(6)	(18)
Fair value liability derivatives	446	479
Level 1 [Member]
Assets:
Fair value asset derivatives	8	6
Liabilities:
Fair value liability derivatives	15	66
Level 2 [Member]
Assets:
Fair value asset derivatives	27	32
Liabilities:
Fair value liability derivatives
Level 3 [Member]
Assets:
Fair value asset derivatives	217	355
Liabilities:
Fair value liability derivatives	437	431
Margin Held [Member]
Assets:
Margin held	(3)	(3)
Margin Posted [Member]
Liabilities:
Margin posted	$ (6)	$ (18)

Derivatives and Other Financial Instruments - Schedule of Reconciliation of Activity for Derivative Contracts (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
Aluminum Contracts [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value measurement, Assets, Beginning balance	$ 281	$ 349
Fair value measurement, Assets, Sales
Fair value measurement, Assets, Cost of goods sold	(36)	(147)
Fair value measurement, Assets, Other expenses, net	(12)	(13)
Fair value measurement, Assets, Other comprehensive loss	(11)	(11)
Fair value measurement, Assets, Purchases, sales, issuances, and settlements
Fair value measurement, Assets, Transfers into and/or out of Level 3
Fair value measurement, Assets, Foreign currency translation	(5)	39
Fair value measurement, Assets, Ending balance	217	217
Fair value measurement, Assets, Sales
Fair value measurement, Assets, Cost of goods sold
Fair value measurement, Assets, Other expenses, net	(12)	(13)
Fair value measurement, Liabilities, Beginning balance	422	410
Fair value measurement, Liabilities, Sales	(8)	(19)
Fair value measurement, Liabilities, Cost of goods sold
Fair value measurement, Liabilities, Other income, net
Fair value measurement, Liabilities, Other comprehensive income	(7)	16
Fair value measurement, Liabilities, Purchases, sales, issuances, and settlements
Fair value measurement, Liabilities, Transfers into and/or out of Level 3
Fair value measurement, Liabilities, Foreign currency translation
Fair value measurement, Liabilities, Ending balance	407	407
Fair value measurement, Liabilities, Sales
Fair value measurement, Liabilities, Cost of goods sold
Fair value measurement, Liabilities, Other income, net
Embedded Credit Derivative [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value measurement, Liabilities, Beginning balance	14	21
Fair value measurement, Liabilities, Sales
Fair value measurement, Liabilities, Cost of goods sold
Fair value measurement, Liabilities, Other income, net	10	3
Fair value measurement, Liabilities, Other comprehensive income
Fair value measurement, Liabilities, Purchases, sales, issuances, and settlements
Fair value measurement, Liabilities, Transfers into and/or out of Level 3
Fair value measurement, Liabilities, Foreign currency translation
Fair value measurement, Liabilities, Ending balance	24	24
Fair value measurement, Liabilities, Sales
Fair value measurement, Liabilities, Cost of goods sold
Fair value measurement, Liabilities, Other income, net	10	3
Energy Contracts [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value measurement, Assets, Beginning balance	24	6
Fair value measurement, Assets, Sales
Fair value measurement, Assets, Cost of goods sold
Fair value measurement, Assets, Other expenses, net	(5)
Fair value measurement, Assets, Other comprehensive loss	(18)	(6)
Fair value measurement, Assets, Purchases, sales, issuances, and settlements
Fair value measurement, Assets, Transfers into and/or out of Level 3
Fair value measurement, Assets, Foreign currency translation	(1)
Fair value measurement, Assets, Ending balance
Fair value measurement, Assets, Sales
Fair value measurement, Assets, Cost of goods sold
Fair value measurement, Assets, Other expenses, net	(5)
Fair value measurement, Liabilities, Beginning balance
Fair value measurement, Liabilities, Sales
Fair value measurement, Liabilities, Cost of goods sold
Fair value measurement, Liabilities, Other income, net
Fair value measurement, Liabilities, Other comprehensive income	6	6
Fair value measurement, Liabilities, Purchases, sales, issuances, and settlements
Fair value measurement, Liabilities, Transfers into and/or out of Level 3
Fair value measurement, Liabilities, Foreign currency translation
Fair value measurement, Liabilities, Ending balance	6	6
Fair value measurement, Liabilities, Sales
Fair value measurement, Liabilities, Cost of goods sold
Fair value measurement, Liabilities, Other income, net

Derivatives and Other Financial Instruments - Additional Information (Detail) R$ in Millions, $ in Millions	1 Months Ended	9 Months Ended
	Jul. 31, 2012 Plant Contract	Sep. 30, 2014 USD ($) t Contract	Sep. 30, 2014 BRL (R$)	Sep. 30, 2014 CAD ($)	Dec. 31, 2013 USD ($)	Sep. 30, 2012 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other derivative contracts estimated term of quoted market prices, in years		10 years
Number of contracts \| Contract	2
Number of smelters \| Plant	2
Derivative asset amount		$ 249,000,000			$ 390,000,000	$ 596,000,000
Power purchase period forecasted by derivative instrument		Through December 2036
Period of natural gas supply contract		6 years
Number of commodities involved for valuation of supply contract \| Contract		2
Number of contracts ceased to qualify as fair value hedge \| Contract		0
Amount of aluminum kmt designated as fair value hedges \| t		264,000
Derivative designated as fair value hedge start period		2014
Derivative designated as fair value hedge end period		2018
Face amount of debt the hedges effectively convert from fixed to floating through 2018		$ 200,000,000
Interest rate cash flow hedges		0
Forward contract to purchase to mitigate the foreign currency risk related to a Canadian/Brazilian-denominated loan due in 2014		$ 53,000,000		$ 58
Maturity date of forward contract		Aug. 31, 2014
Gain recognized on forward contract		$ 4,000,000
Forward Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Forward contract to purchase to mitigate the foreign currency risk related to a Canadian/Brazilian-denominated loan due in 2014		$ 231,000,000	R$ 543
Maturity date of forward contract		Mar. 31, 2014
Forward Contracts [Member] \| Canadian Denominated Loan [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maturity date of forward contract		Oct. 08, 2014
Gain recognized on forward contract		$ 1,000,000
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net unrealized loss on derivative contracts		220,000,000
Derivative asset amount		$ 217,000,000			$ 355,000,000
Power Contract One [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Power contracts maturity date	Jun. 30, 2014
Power Contract Two [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Power contracts maturity date	Jun. 30, 2016

Derivatives and Other Financial Instruments - Schedule of Quantitative Information for Level 3 Derivative Contracts (Detail)	9 Months Ended
	Sep. 30, 2014 USD ($) Index $ / Mg $ / Barrels	Dec. 31, 2013 USD ($)	Sep. 30, 2012 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Assets, Fair value	$ 249,000,000	$ 390,000,000	$ 596,000,000
Derivative Liabilities, Fair value	$ 446,000,000	$ 479,000,000
Interrelationship of Future Aluminum and Oil Prices [Member] \| Aluminum Contracts [Member] \| Minimum [Member] \| Discounted Cash Flow [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Expected future aluminum prices \| $ / Mg	1,921
Maturity year of future aluminum price	2014
Expected future oil prices \| $ / Barrels	96
Maturity year of future oil price	2018
Interrelationship of Future Aluminum and Oil Prices [Member] \| Aluminum Contracts [Member] \| Maximum [Member] \| Discounted Cash Flow [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Expected future aluminum prices \| $ / Mg	2,137
Maturity year of future aluminum price	2018
Expected future oil prices \| $ / Barrels	97
Maturity year of future oil price	2014
Interrelationship of Future Aluminum Prices, Foreign Currency Exchange Rates, and U.S. Consumer Price Index [Member] \| Aluminum Contracts [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Assets, Fair value	$ 204,000,000
Interrelationship of Future Aluminum Prices, Foreign Currency Exchange Rates, and U.S. Consumer Price Index [Member] \| Aluminum Contracts [Member] \| Minimum [Member] \| Discounted Cash Flow [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Expected future aluminum prices \| $ / Mg	1,936
Maturity year of future aluminum price	2014
Foreign currency exchange rate	1
Foreign currency exchange rate	0.87
Foreign currency exchange rate expected year	2014
Expected consumer price index \| Index	236
Expected consumer price index, Year	2014
Interrelationship of Future Aluminum Prices, Foreign Currency Exchange Rates, and U.S. Consumer Price Index [Member] \| Aluminum Contracts [Member] \| Maximum [Member] \| Discounted Cash Flow [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Expected future aluminum prices \| $ / Mg	2,051
Maturity year of future aluminum price	2016
Foreign currency exchange rate	0.89
Foreign currency exchange rate expected year	2016
Consumer price index base year	1982
Expected consumer price index \| Index	246
Consumer price index base \| Index	100
Expected consumer price index, Year	2016
Interrelationship of LME Price to Overall Energy Price [Member] \| Aluminum Contracts [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Assets, Fair value	$ 13,000,000
Interrelationship of LME Price to Overall Energy Price [Member] \| Aluminum Contracts [Member] \| Minimum [Member] \| Discounted Cash Flow [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Expected future aluminum prices \| $ / Mg	1,914
Maturity year of future aluminum price	2014
Interrelationship of LME Price to Overall Energy Price [Member] \| Aluminum Contracts [Member] \| Maximum [Member] \| Discounted Cash Flow [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Expected future aluminum prices \| $ / Mg	2,177
Maturity year of future aluminum price	2019
Price of Electricity beyond Forward Curve [Member] \| Energy Contracts [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Liabilities, Fair value	$ 6,000,000
Price of Electricity beyond Forward Curve [Member] \| Energy Contracts [Member] \| Minimum [Member] \| Discounted Cash Flow [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Price of electricity beyond forward curve	$ 51
Maturity date of electricity beyond forward curve	2014
Price of Electricity beyond Forward Curve [Member] \| Energy Contracts [Member] \| Maximum [Member] \| Discounted Cash Flow [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Price of electricity beyond forward curve	$ 100
Maturity date of electricity beyond forward curve	2036
Price of Aluminum beyond Forward Curve [Member] \| Aluminum Contracts [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Liabilities, Fair value	$ 407,000,000
Price of Aluminum beyond Forward Curve [Member] \| Aluminum Contracts [Member] \| Minimum [Member] \| Discounted Cash Flow [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Price of aluminum beyond forward curve	$ 2,460
Maturity year of future aluminum price	2025
Price of Aluminum beyond Forward Curve [Member] \| Aluminum Contracts [Member] \| Maximum [Member] \| Discounted Cash Flow [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Price of aluminum beyond forward curve	$ 2,588
Maturity year of future aluminum price	2027
Credit Spread between Alcoa and Counterparty [Member] \| Embedded Credit Derivative [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Liabilities, Fair value	$ 24,000,000
Credit Spread between Alcoa and Counterparty [Member] \| Embedded Credit Derivative [Member] \| Minimum [Member] \| Discounted Cash Flow [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage of credit spread	1.79%
Credit Spread between Alcoa and Counterparty [Member] \| Embedded Credit Derivative [Member] \| Maximum [Member] \| Discounted Cash Flow [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage of credit spread	2.49%
Credit Spread between Alcoa and Counterparty [Member] \| Embedded Credit Derivative [Member] \| Median [Member] \| Discounted Cash Flow [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage of credit spread	2.14%

Derivatives and Other Financial Instruments - Schedule of Gain or Loss on Hedged Items and Derivative Contracts (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Earnings on Derivatives	$ 23	$ 23	$ 27		$ (102)
Amount of Gain or (Loss) Recognized in Earnings on Hedged Items	(22)	(5)	(39)	$ 124
Aluminum Contracts [Member] \| Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Earnings on Derivatives	20	20	19		(110)
Amount of Gain or (Loss) Recognized in Earnings on Hedged Items	(19)	(2)	(31)	132
Interest Rate Contracts [Member] \| Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Earnings on Derivatives	3	3	8		$ 8
Amount of Gain or (Loss) Recognized in Earnings on Hedged Items	$ (3)	$ (3)	$ (8)	$ (8)

Derivatives and Other Financial Instruments - Schedule of Gain or Loss on Hedged Items and Derivative Contracts (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in earnings related to the ineffective portion of hedging relationships	$ (5)	$ 0	$ 0	$ 0
Sales [Member] \| Aluminum Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain/loss recognized in earnings related to the ineffective portion of hedging relationships	$ 1	$ 18	$ (12)	$ 22

Derivatives and Other Financial Instruments - Schedule of Gains and Losses on Derivative Excluded from Assessment of Effectiveness Recognized in Current Earnings (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion)	$ (24)	$ (56)	$ (24)	$ 120
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)	(5)	(6)	(14)	(14)
Amount of Gain or (Loss) Recognized in Earnings on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)	(5)		(1)	(2)
Aluminum Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion)	(2)	(61)	(21)	117
Aluminum Contracts [Member] \| Other Expenses (Income), Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Earnings on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)			(1)	(2)
Aluminum Contracts [Member] \| Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)	(6)	(4)	(15)	(11)
Energy Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion)	(21)	1	(6)
Energy Contracts [Member] \| Other Expenses (Income), Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Earnings on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)	(5)
Foreign Exchange Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion)	(1)	3	1	1
Foreign Exchange Contracts [Member] \| Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)		(2)	1	(2)
Interest Rate Contracts [Member] \| Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)	$ 1			(1)
Interest Rate Contract 2 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion)		$ 1	$ 2	$ 2

Derivatives and Other Financial Instruments - Schedule of Gains and Losses on Derivative Excluded from Assessment of Effectiveness Recognized in Current Earnings (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Amount of loss expected to be recognized into earnings over the next 12 months			$ 22
Earnings recognized in relation to ineffective portion of the hedging relationships	$ (5)	$ 0	0	$ 0
Amount of gain or (loss) recognized in earnings related amount excluded from the assessment of hedge effectiveness	(5)		$ (1)	$ (2)
Maximum [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in earnings related amount excluded from the assessment of hedge effectiveness	$ 1	$ 1

Derivatives and Other Financial Instruments - Schedule of Outstanding Forward Contracts that were Entered into Hedge Forecasted Transactions (Detail) t in Thousands, $ in Millions	Sep. 30, 2014 USD ($) t MWh BTU	Dec. 31, 2013 USD ($) t MWh BTU
Aluminum Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Aluminum contracts (000 metric tons) \| t	707	841
Energy Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Electricity (megawatt hours) \| MWh	59,409,328	59,409,328
Natural gas (million British thermal units) \| BTU	20,570,000	19,980,000
Foreign Exchange Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Foreign exchange contracts \| $	$ 632	$ 335

Derivatives and Other Financial Instruments - Schedule of Fair Value Gains and Losses on Derivatives Contracts Recorded in Earnings (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Earnings on Derivatives	$ (20)	$ 18	$ (21)	$ 12
Aluminum Contracts [Member] \| Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Earnings on Derivatives		1	(4)	(6)
Aluminum Contracts [Member] \| Other Expenses (Income), Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Earnings on Derivatives	(11)	4	(12)	19
Embedded Credit Derivative [Member] \| Other Expenses (Income), Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Earnings on Derivatives	(10)	11	(3)	2
Foreign Exchange Contracts [Member] \| Other Expenses (Income), Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Earnings on Derivatives	$ 1	$ 2	$ (2)	$ (3)

Derivatives and Other Financial Instruments - Schedule of Carrying Values and Fair Values of Other Financial Instruments (Detail) - USD ($) $ in Millions	Sep. 30, 2014	Dec. 31, 2013
Carrying Value [Member]
Derivative [Line Items]
Cash and cash equivalents	$ 3,272	$ 1,437
Restricted cash	18	18
Noncurrent receivables	18	19
Available-for-sale securities	144	119
Short-term borrowings	57	57
Commercial paper	99
Long-term debt due within one year	35	655
Long-term debt, less amount due within one year	8,797	7,607
Fair Value [Member]
Derivative [Line Items]
Cash and cash equivalents	3,272	1,437
Restricted cash	18	18
Noncurrent receivables	18	19
Available-for-sale securities	144	119
Short-term borrowings	57	57
Commercial paper	99
Long-term debt due within one year	35	1,040
Long-term debt, less amount due within one year	$ 9,335	$ 7,863

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] - USD ($)	Oct. 15, 2014	Oct. 23, 2014
Alcoa World Alumina and Chemicals [Member]
Subsequent Event [Line Items]
Percentage of ownership to sell	100.00%
Jamalco Joint Venture [Member]
Subsequent Event [Line Items]
Percentage of ownership by a subsidiary of Alcoa World Alumina and Chemicals	55.00%
Alcoa [Member]
Subsequent Event [Line Items]
Percentage of ownership by Alcoa	60.00%
Mt Holly [Member]
Subsequent Event [Line Items]
Percentage of ownership to sell		50.33%
Minimum [Member]
Subsequent Event [Line Items]
Non-cash loss	$ 265,000,000
Non-cash loss after-tax and noncontrolling interest	$ 80,000,000
Non-cash loss per diluted share	$ 0.07
Maximum [Member]
Subsequent Event [Line Items]
Non-cash loss	$ 285,000,000
Non-cash loss after-tax and noncontrolling interest	$ 100,000,000
Non-cash loss per diluted share	$ 0.09