Alcoa Corp

Listed Company

AACIK 0001675149NYSELarge AcceleratedPrimary Production Of AluminumDelawareFY ends Dec 31

Period

FY 2025

Revenue

$12.83B

Net Income

$1.16B

Total Assets

$16.13B

Equity

$6.12B

Shares Out

263.89M

Op. Cash Flow

$1.19B

Business

Alcoa Corp is active across the upstream aluminum industry, engaging in bauxite mining, alumina refining, aluminum smelting and casting, and related energy operations. It produces smelter grade and non‑metallurgical alumina, primary aluminum in various ingot and value‑add shapes and alloys, and supplies energy from hydroelectric and other generation assets. Operations are organized into two reportable segments—Alumina (mining and refining) and Aluminum (smelting, casting and energy)—and include joint ventures and technology partnerships. The company sells products globally across North America, South America, Europe, the Middle East, Australia, China and other parts of Asia through long‑term contracts and spot markets.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Sales (E)	12,831	11,895	10,551	12,451	12,152
Cost of goods sold (exclusive of expenses below)	10,658	10,044	9,813	10,212	9,153
Selling, general administrative, and other expenses	299	275	226	204	227
Research and development expenses	24	57	39	32	31
Provision for depreciation, depletion, and amortization	623	642	632	617	664
Impairment of goodwill (B & L)	144	0	0	—	—
Restructuring and other charges, net (D)	918	341	184	696	1,128
Interest expense (U)	158	156	107	106	195
Other (income) expenses, net (U)	−1,057	91	134	−118	−445
Total costs and expenses	11,767	11,606	11,135	11,749	10,953
Income (loss) before income taxes	1,064	289	−584	702	1,199
(Benefit from) provision for income taxes (Q)	−55	265	189	664	629
Net income (loss)	1,119	24	−773	38	570
Less: Net loss attributable to noncontrolling interest	−38	−36	−122	161	141
Net income (loss) attributable to Alcoa Corporation	1,157	60	−651	−123	429
Basic	4.4	0.26	−3.65	−0.68	2.3
Diluted	4.37	0.26	−3.65	−0.68	2.26

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents (P)	1,597	1,138	944	1,363	1,814
Receivables from customers (I)	1,064	1,096	656	778	757
Other receivables	204	143	152	131	127
Inventories (J)	2,177	1,998	2,158	2,427	1,956
Total asset derivatives	49	25	29	134	14
Prepaid expenses and other current assets	378	514	466	417	358
Total current assets	5,469	4,914	4,405	5,250	5,026
Properties, plants, and equipment, net (K)	6,700	6,389	6,785	6,493	6,623
Investments (H)	477	980	979	1,122	1,199
Noncurrent marketable securities (C & P)	1,397	0	—	—	—
Deferred income taxes (Q)	687	284	333	296	506
Total asset derivatives	34	0	3	2	7
Other noncurrent assets (U)	1,365	1,497	1,650	1,593	1,664
Total Assets	16,129	14,064	14,155	14,756	15,025
Accounts payable, trade	1,938	1,805	1,714	1,757	1,674
Accrued compensation and retirement costs	383	362	357	335	383
Taxes, including income taxes	294	102	88	230	374
Total liability derivatives	467	263	214	200	274
Other current liabilities	718	788	578	481	517
Long-term debt due within one year (M & P)	1	75	79	1	1
Total current liabilities	3,801	3,395	3,030	3,004	3,223
Long-term debt, less amount due within one year (M & P)	2,438	2,470	1,732	1,806	1,726
Accrued pension benefits (O)	257	256	278	213	417
Accrued other postretirement benefits (O)	427	412	443	480	650
Asset retirement obligations (R)	1,120	691	772	711	622
Environmental remediation (S)	206	182	202	226	265
Total liability derivatives	1,134	836	1,092	1,026	1,048
Noncurrent income taxes (Q)	65	9	193	215	191
Other noncurrent liabilities and deferred credits (U)	487	656	568	486	599
Total liabilities	9,935	8,907	8,310	8,167	8,741
Contingencies and commitments (S)	—	—	—	—	—
Noncontrolling interest (C)	76	0	—	—	—
Preferred stock (N)	0	0	0	—	—
Common stock (N)	3	3	2	2	2
Additional capital	11,575	11,587	9,187	9,183	9,577
Accumulated deficit	−271	−1,323	−1,293	−570	−315
Accumulated other comprehensive loss (G)	−5,189	−5,110	−3,645	−3,539	−4,592
Total equity	6,118	5,157	5,845	6,589	6,284
Total liabilities, mezzanine equity, and equity	16,129	14,064	14,155	14,756	15,025

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income taxes (Q)	−275	23	−22	219	147
Equity loss (income), net of dividends (H)	10	−2	201	4	−138
Net (gain) loss from investing activities - asset and investment sales (U)	−784	37	18	10	−354
Mark-to-market gain on noncurrent marketable securities (U)	−197	0	0	—	—
Net periodic pension benefit cost (O)	18	10	6	54	47
Stock-based compensation (N)	41	36	35	40	39
(Gain) loss on mark-to-market derivative financial contracts	−35	−8	26	—	—
Other	79	34	78	53	49
Decrease (increase) in receivables	71	−493	104	−59	−414
(Increase) decrease in inventories	−57	51	243	−547	−639
Decrease (increase) in prepaid expenses and other current assets	113	−68	39	44	−41
Increase (decrease) in accounts payable, trade	63	190	−74	189	354
Decrease in accrued expenses	−203	−108	−133	−173	−38
(Decrease) increase in taxes, including income taxes	−42	95	−146	−152	301
Pension contributions (O)	−20	−16	−24	−17	−579
Increase in noncurrent assets	−107	−4	−210	−87	−160
Decrease in noncurrent liabilities	−294	−162	−93	−63	−35
Cash provided from operations	1,185	622	91	822	920
Additions to debt (M)	1,049	1,032	127	4	495
Payments on debt (M)	−1,213	−679	−72	−1	−1,294
Proceeds from the exercise of employee stock options (N)	0	0	1	22	25
Dividends paid on Alcoa preferred stock (N)	−1	−1	0	0	—
Dividends paid on Alcoa common stock (N)	−104	−89	−72	−72	−19
Payments related to tax withholding on stock-based compensation awards	−8	−15	−34	−19	−1
Financial contributions for the divestiture of businesses (C)	−8	−35	−52	−33	−17
Contributions from noncontrolling interest (A)	27	65	188	214	21
Distributions to noncontrolling interest (A)	0	−49	−30	−379	−215
Acquisition of noncontrolling interest (C)	0	−23	0	0	—
Other	−3	−5	1	−4	−3
Cash (used for) provided from financing activities	−261	201	57	−768	−1,158
Capital expenditures	−618	−580	−531	−480	−390
Proceeds from the sale of assets	5	3	4	5	966
Additions to investments (H)	−59	−37	−70	−32	−11
Sale of investments (H)	161	0	0	10	—
Other	9	6	12	2	—
Cash used for investing activities	−502	−608	−585	−495	565
Effect of exchange rate changes on cash and cash equivalents and restricted cash	36	−28	10	−9	−13
Net change in cash and cash equivalents and restricted cash	458	187	−427	−450	314

Filings

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