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Network	1043 - Disclosure - Income Taxes (Tables) (http://www.alcoa.com/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlockTables)
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Reporting Entity [Axis]

0001675149 (http://www.sec.gov/CIK)

Income Tax Disclosure [Abstract]

Period [Axis]

2016-01-01 - 2016-12-31

Income Tax Disclosure [Abstract]

Components of Loss from Continuing Operations Before Income Taxes

The components of loss before income taxes were as follows:


	2016			2015			2014
United States	$	(688	)	$	(1,053	)	$	(709	)
Foreign		526			716			646
	$	(162	)	$	(337	)	$	(63	)

Schedule of Provision for Income Taxes on Income from Continuing Operations

Provision for income taxes consisted of the following:


	2016			2015			2014
Current:
Federal*	$	9		$	3		$	1
Foreign		221			313			333
State and local		-			-			-
		230			316			334
Deferred:
Federal*		-			(85	)		(5	)
Foreign		(46	)		171			(45	)
State and local		-			-			-
		(46	)		86			(50	)
Total	$	184		$	402		$	284

*	Includes U.S. taxes related to foreign income

Reconciliation of U.S. Federal Statutory Rate to Alcoa's Effective Tax Rate

A reconciliation of the U.S. federal statutory rate to Alcoa Corporation’s effective tax rate was as follows (the effective tax rate for all periods presented was a provision on a loss):


	2016			2015			2014
U.S. federal statutory rate		35.0	%		35.0	%		35.0	%
Taxes on foreign operations		24.8			(6.7	)		(67.5	)
Nondeductible costs related to the Separation Transaction		(9.6	)		-			-
Permanent differences on restructuring and other charges and asset disposals		-			-			(19.4	)
Equity income/loss		(3.7	)		(2.6	)		(23.0	)
Noncontrolling interest⁽¹⁾		(7.3	)		(8.5	)		(53.5	)
Statutory tax rate and law changes⁽²⁾		(0.6	)		(0.3	)		(57.0	)
Tax holidays⁽³⁾		11.2			6.2			(61.8	)
Changes in valuation allowances		(1.9	)		(62.6	)		3.4
Losses and credits with no tax benefit⁽⁴⁾		(163.2	)		(82.0	)		(243.0	)
Impact of capitalization of intercompany debt		-			3.3			38.1
Other		1.7			(1.1	)		(2.1	)
Effective tax rate		(113.6	)%		(119.3	)%		(450.8	)%

⁽¹⁾	In 2014, the noncontrolling interest’s impact on Alcoa Corporation’s effective tax rate was mostly due to the noncontrolling interest’s share of a loss on the divestiture of an ownership interest in a mining and refining joint venture in Jamaica (see Note C).

⁽²⁾	In November 2014, Spain enacted corporate tax reform that changed the corporate tax rate from 30% in 2014 to 28% in 2015 to 25% in 2016. As a result, Alcoa Corporation remeasured certain deferred tax assets related to Spanish operations.

⁽³⁾	In 2014, a tax holiday for a Brazilian entity of Alcoa Corporation became effective (see below).

⁽⁴⁾

Hypothetical net operating losses and tax credits determined on a separate return basis for which it is more likely than not that a tax benefit will not be realized. The related deferred tax asset and offsetting valuation allowance have been adjusted to Parent Company net investment and, as such, are not reflected in subsequent deferred tax and valuation allowance tables.

Schedule of Components of Net Deferred Tax Assets and Liabilities

The components of net deferred tax assets and liabilities were as follows:


	2016					2015
December 31,	Deferred tax assets			Deferred tax liabilities		Deferred tax assets			Deferred tax liabilities
Depreciation	$	187		$	499	$	264		$	529
Employee benefits		1,240			-		286			39
Loss provisions		313			-		302			7
Deferred income/expense		28			136		48			312
Tax loss carryforwards		1,064			-		992			-
Tax credit carryforwards		23			-		15			-
Derivatives and hedging activities		-			124		-			216
Other		233			125		420			412
		3,088			884		2,327			1,515
Valuation allowance		(1,755	)		-		(712	)		-
	$	1,333		$	884	$	1,615		$	1,515

Schedule of Expiration Periods of Deferred Tax Assets

The following table details the expiration periods of the deferred tax assets presented above:


December 31, 2016	Expires within 10 years			Expires within 11-20 years			No expiration*			Other*			Total
Tax loss carryforwards	$	282		$	177		$	605		$	-		$	1,064
Tax credit carryforwards		23			-			-			-			23
Other		-			-			361			1,640			2,001
Valuation allowance		(272	)		(88	)		(265	)		(1,130	)		(1,755	)
	$	33		$	89		$	701		$	510		$	1,333

*	Deferred tax assets with no expiration may still have annual limitations on utilization. Other represents deferred tax assets whose expiration is dependent upon the reversal of the underlying temporary difference.

Schedule of Changes in Valuation Allowance

The following table details the changes in the valuation allowance:


December 31,	2016			2015			2014
Balance at beginning of year	$	(712	)	$	(486	)	$	(517	)
Increase to allowance		(1,072	)		(289	)		(19	)
Release of allowance		16			-			7
U.S. state tax apportionment and tax rate changes		-			30			15
Foreign currency translation		13			33			28
Balance at end of year	$	(1,755	)	$	(712	)	$	(486	)

Reconciliation of Unrecognized Tax Benefits (Excluding Interest and Penalties)

A reconciliation of the beginning and ending amount of unrecognized tax benefits (excluding interest and penalties) was as follows:


December 31,	2016			2015			2014
Balance at beginning of year	$	22		$	25		$	52
Additions for tax positions of the current year		3			2			2
Additions for tax positions of prior years		1			1			1
Reductions for tax positions of prior years		(2	)		-			(1	)
Settlements with tax authorities		(2	)		(2	)		(28	)
Expiration of the statute of limitations		-			-			-
Foreign currency translation		1			(4	)		(1	)
Balance at end of year	$	23		$	22		$	25