B. Accumulated Other Comprehensive Loss
The following table details the activity of the four components that comprise Accumulated other comprehensive (loss) income for both Alcoa’s shareholders and noncontrolling interests:
| Alcoa | Noncontrolling Interests | |||||||||||||||||||||||
| 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||
|
Pension and other postretirement benefits (W) |
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|
Balance at beginning of period |
$ | (4,063 | ) | $ | (3,534 | ) | $ | (2,941 | ) | $ | (77 | ) | $ | (99 | ) | $ | (40 | ) | ||||||
|
Other comprehensive income (loss): |
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|
Unrecognized net actuarial loss and prior service cost/benefit |
281 | (1,184 | ) | (1,159 | ) | 28 | 15 | (97 | ) | |||||||||||||||
|
Tax (expense) benefit |
(88 | ) | 398 | 399 | (9 | ) | (4 | ) | 32 | |||||||||||||||
|
Total Other comprehensive income (loss) before reclassifications, net of tax |
193 | (786 | ) | (760 | ) | 19 | 11 | (65 | ) | |||||||||||||||
|
Amortization of net actuarial loss and prior service cost/benefit(1) |
520 | 396 | 257 | 11 | 16 | 9 | ||||||||||||||||||
|
Tax expense(2) |
(182 | ) | (139 | ) | (90 | ) | (4 | ) | (5 | ) | (3 | ) | ||||||||||||
|
Total amount reclassified from Accumulated other comprehensive loss, net of tax(8) |
338 | 257 | 167 | 7 | 11 | 6 | ||||||||||||||||||
|
Total Other comprehensive income (loss) |
531 | (529 | ) | (593 | ) | 26 | 22 | (59 | ) | |||||||||||||||
|
Balance at end of period |
$ | (3,532 | ) | $ | (4,063 | ) | $ | (3,534 | ) | $ | (51 | ) | $ | (77 | ) | $ | (99 | ) | ||||||
|
Foreign currency translation |
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|
Balance at beginning of period |
$ | 1,147 | $ | 1,349 | $ | 1,892 | $ | 257 | $ | 351 | $ | 516 | ||||||||||||
|
Other comprehensive loss(3) |
(968 | ) | (202 | ) | (543 | ) | (367 | ) | (94 | ) | (165 | ) | ||||||||||||
|
Balance at end of period |
$ | 179 | $ | 1,147 | $ | 1,349 | $ | (110 | ) | $ | 257 | $ | 351 | |||||||||||
|
Available-for-sale-securities |
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|
Balance at beginning of period |
$ | 3 | $ | 1 | $ | 1 | $ | - | $ | - | $ | - | ||||||||||||
|
Other comprehensive (loss) income(4) |
(1 | ) | 2 | - | - | - | - | |||||||||||||||||
|
Balance at end of period |
$ | 2 | $ | 3 | $ | 1 | $ | - | $ | - | $ | - | ||||||||||||
|
Cash flow hedges (X) |
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|
Balance at beginning of period |
$ | (489 | ) | $ | (443 | ) | $ | (627 | ) | $ | (5 | ) | $ | (4 | ) | $ | 1 | |||||||
|
Other comprehensive income (loss): |
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|
Net change from periodic revaluations |
205 | (2 | ) | 88 | 4 | (1 | ) | (8 | ) | |||||||||||||||
|
Tax (expense) benefit |
(43 | ) | (10 | ) | (25 | ) | (1 | ) | - | 2 | ||||||||||||||
|
Total Other comprehensive income (loss) before reclassifications, net of tax |
162 | (12 | ) | 63 | 3 | (1 | ) | (6 | ) | |||||||||||||||
|
Net amount reclassified to earnings: |
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|
Aluminum contracts(5) |
18 | (65 | ) | 152 | - | - | - | |||||||||||||||||
|
Energy contracts(6) |
- | - | 13 | - | - | - | ||||||||||||||||||
|
Foreign exchange contracts(5) |
2 | - | (3 | ) | - | - | - | |||||||||||||||||
|
Interest rate contracts(7) |
2 | 3 | 5 | - | - | 1 | ||||||||||||||||||
|
Sub-total |
22 | (62 | ) | 167 | - | - | 1 | |||||||||||||||||
|
Tax (expense) benefit(2) |
(3 | ) | 28 | (46 | ) | - | - | - | ||||||||||||||||
|
Total amount reclassified from Accumulated other comprehensive loss, net of tax(8) |
19 | (34 | ) | 121 | - | - | 1 | |||||||||||||||||
|
Total Other comprehensive income (loss) |
181 | (46 | ) | 184 | 3 | (1 | ) | (5 | ) | |||||||||||||||
|
Balance at end of period |
$ | (308 | ) | $ | (489 | ) | $ | (443 | ) | $ | (2 | ) | $ | (5 | ) | $ | (4 | ) | ||||||
| (1) |
These amounts were included in the computation of net periodic benefit cost for pension and other postretirement benefits (see Note W). |
| (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 income, net on the accompanying Statement of Consolidated Operations. |
| (5) |
These amounts were included in Sales on the accompanying Statement of Consolidated Operations. |
| (6) |
This amount was included in Cost of goods sold on the accompanying Statement of Consolidated Operations. |
| (7) |
In 2013 and 2012, this amount was included in Interest expense on the accompanying Statement of Consolidated Operations. In 2011, this amount was included in Other income, net on the accompanying Statement of Consolidated Operations. |
| (8) |
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 7. |