Other Financial Information

3 Months Ended

Mar. 31, 2025

Other Financial Information [Abstract]

P. Other Financial Information

Other (Income) Expenses, Net


	First quarter ended March 31,
	2025			2024
Equity loss	$	6		$	27
Foreign currency (gains) losses, net		(17	)		24
Net loss from asset sales		3			11
Net (gain) loss on mark-to-market derivative instruments		(7	)		5
Non-service costs – pension and other postretirement benefits		6			4
Other, net		(17	)		(12	)
	$	(26	)	$	59

Other Noncurrent Assets


	March 31, 2025		December 31, 2024
Prepaid gas transmission contract	$	285	$	278
Gas supply prepayment		220		225
Value added tax credits		211		213
Deferred mining costs, net		196		184
Goodwill		143		142
Prepaid pension benefit		131		128
IRA Section 45X credit		85		71
Noncurrent restricted cash		68		53
Noncurrent prepaid tax asset		67		66
Intangibles, net		35		36
Other		101		101
	$	1,542	$	1,497

Cash and Cash Equivalents and Restricted Cash


	March 31, 2025		December 31, 2024
Cash and cash equivalents	$	1,202	$	1,138
Current restricted cash		20		43
Noncurrent restricted cash		68		53
	$	1,290	$	1,234

Restricted cash primarily relates to commitments included in the viability agreement reached with the workers’ representatives of the San Ciprián smelter in December 2021, and subsequently updated in February 2023. $11 was released from restricted cash in the first quarter of 2025, related to smelter restart and capital expenditures incurred in the fourth quarter of 2024 and first quarter of 2025. At March 31, 2025, the Company had restricted cash of $75 available for capital improvements at the site and smelter restart costs.

Alcoa Corp 10-Q