Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Dec. 31, 2025

Accumulated other comprehensive income, net of tax

The following tables summarize the change in the components of accumulated other comprehensive loss, excluding noncontrolling interests, for the periods presented:


in millions	Currency Translation		Cash Flow Hedges(1)		Postretirement Benefit Plans(2)		Total
Balance as of September 30, 2025	$	(194)	$	(58)	$	(1)	$	(253)
Other comprehensive (loss) income before reclassifications	(9)		(216)		5		(220)
Amounts reclassified from accumulated other comprehensive loss, net	—		88		—		88
Net current-period other comprehensive (loss) income	(9)		(128)		5		(132)
Balance as of December 31, 2025	$	(203)	$	(186)	$	4	$	(385)

	Currency Translation		Cash Flow Hedges(1)		Postretirement Benefit Plans(2)		Total
Balance as of September 30, 2024	$	(224)	$	(97)	$	16	$	(305)
Other comprehensive loss before reclassifications	(217)		(37)		—		(254)
Amounts reclassified from accumulated other comprehensive loss, net	—		63		—		63
Net current-period other comprehensive (loss) income	(217)		26		—		(191)
Balance as of December 31, 2024	$	(441)	$	(71)	$	16	$	(496)

	Currency Translation		Cash Flow Hedges(1)		Postretirement Benefit Plans(2)		Total
Balance as of March 31, 2025	$	(378)	$	16	$	4	$	(358)
Other comprehensive income (loss) before reclassifications	175		(234)		12		(47)
Amounts reclassified from accumulated other comprehensive loss, net	—		32		(12)		20
Net current-period other comprehensive income (loss)	175		(202)		—		(27)
Balance as of December 31, 2025	$	(203)	$	(186)	$	4	$	(385)

	Currency Translation		Cash Flow Hedges(1)		Postretirement Benefit Plans(2)		Total
Balance as of March 31, 2024	$	(340)	$	(62)	$	21	$	(381)
Other comprehensive loss before reclassifications	(101)		(141)		(3)		(245)
Amounts reclassified from accumulated other comprehensive loss, net	—		132		(2)		130
Net current-period other comprehensive loss	(101)		(9)		(5)		(115)
Balance as of December 31, 2024	$	(441)	$	(71)	$	16	$	(496)

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(1)For additional information on our cash flow hedges, see Note 10 – Financial Instruments and Commodity Contracts.

(2)For additional information on our postretirement benefit plans, see Note 8 – Postretirement Benefit Plans.

Novelis Inc. 10-Q