| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | ||||||||||||
Net income | ||||||||||||
470 | 642 | -74 | -878 | -197 | 177 | -2,244 | 162 | 805 | 392 | -1,090 | 147 | 2,929 |
Adjustments to reconcile net income to cash used for operations: | ||||||||||||
Depreciation and amortization | ||||||||||||
536 | 576 | 551 | 1,132 | 1,280 | 1,372 | 1,422 | 1,462 | 1,481 | 1,451 | 1,311 | 1,234 | 1,245 |
Deferred income taxes | ||||||||||||
-19 | 31 | 434 | 1,125 | 34 | -35 | 178 | -99 | -181 | -287 | -596 | -261 | 311 |
Equity income, net of dividends | ||||||||||||
- | - | - | -42 | -158 | -104 | -77 | -2 | 26 | 22 | -39 | 48 | 116 |
Impairment of goodwill (A and N) | ||||||||||||
0 | 0 | 719 | 0 | 25 | - | 1,731 | - | - | - | - | - | - |
Restructuring and other charges | ||||||||||||
620 | 9 | 165 | 257 | -1,195 | 314 | 782 | 172 | 281 | 207 | 237 | 939 | 268 |
Net loss from investing activities—asset sales | ||||||||||||
-7 | -10 | 513 | 156 | 74 | 47 | 10 | 321 | 41 | 9 | 106 | 50 | 1,806 |
Net periodic pension benefit cost (F) | ||||||||||||
115 | 130 | 217 | 304 | 485 | 423 | 516 | - | - | - | - | - | - |
Stock-based compensation | ||||||||||||
60 | 50 | 67 | 86 | 92 | 87 | 71 | 67 | 83 | 84 | 87 | 94 | 97 |
Provision for doubtful accounts | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 14 |
Loss from discontinued operations | ||||||||||||
- | - | - | - | - | - | - | - | -3 | -8 | -166 | -303 | -250 |
Excess tax benefits from stock-based payment arrangements | ||||||||||||
- | - | - | - | 9 | 9 | - | 1 | 6 | 1 | - | -15 | 79 |
Other | ||||||||||||
-13 | -75 | -112 | -63 | 32 | -66 | -4 | -63 | -53 | -151 | 219 | -206 | -81 |
Changes in assets and liabilities, excluding effects of acquisitions, divestitures, and foreign currency translation adjustments: | ||||||||||||
(Increase) in receivables | ||||||||||||
977 | 1,142 | 915 | 1,016 | -212 | 312 | 141 | -104 | 115 | 102 | -685 | -233 | -375 |
(Increase) in inventories | ||||||||||||
3 | 74 | 192 | 29 | 64 | 355 | -25 | -96 | 339 | 217 | -1,268 | 353 | -169 |
(Increase) in prepaid expenses and other current assets | ||||||||||||
-4 | 1 | -11 | 76 | -46 | 25 | 9 | 62 | -77 | -27 | -126 | 97 | 134 |
(Decrease) increase in accounts payable, trade | ||||||||||||
-56 | 339 | 62 | 232 | -90 | 256 | 326 | -12 | 394 | 328 | -634 | 21 | 177 |
(Decrease) in accrued expenses | ||||||||||||
-42 | -190 | -116 | -394 | -437 | -451 | -418 | -166 | -16 | -239 | -98 | -288 | -79 |
Increase in taxes, including income taxes | ||||||||||||
-2 | 104 | -23 | 93 | 25 | 7 | -43 | 15 | 115 | 503 | -143 | 28 | -185 |
Cash received on long-term aluminum supply contract (F) | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | -93 |
Pension contributions | ||||||||||||
268 | 298 | 310 | 290 | 470 | 501 | 462 | 561 | 336 | 113 | 128 | 523 | 322 |
(Increase) in noncurrent assets | ||||||||||||
7 | 20 | 41 | 152 | 370 | 42 | 156 | -9 | 154 | 83 | 201 | 242 | 282 |
(Decrease) in noncurrent liabilities | ||||||||||||
-45 | -24 | -193 | -248 | -227 | -209 | -71 | 570 | 125 | 183 | 234 | 169 | 207 |
Cash used for discontinued operations | ||||||||||||
- | - | - | - | - | - | - | -3 | -10 | 7 | -14 | 133 | 36 |
Cash used for operations | ||||||||||||
406 | 217 | -39 | 95 | 1,582 | 1,674 | 1,578 | 1,497 | 2,193 | 2,261 | 1,365 | 1,234 | 3,111 |
(Increase) in net assets held for sale | ||||||||||||
- | - | - | - | - | - | - | - | - | 7 | -3 | -16 | -24 |
CASH PROVIDED FROM OPERATIONS | ||||||||||||
- | - | - | - | - | - | - | 1,500 | 2,203 | 2,254 | 1,379 | 1,101 | 3,075 |
Financing Activities | ||||||||||||
Net change in short-term borrowings (original maturities of three months or less) | ||||||||||||
2 | -7 | -2 | -3 | -16 | -2 | 5 | -10 | -31 | -44 | -292 | -96 | 94 |
Additions to debt (original maturities greater than three months) | ||||||||||||
400 | 600 | 816 | 1,962 | 1,901 | 2,878 | 1,852 | 972 | 1,256 | 1,126 | 1,049 | 2,253 | 2,050 |
Net change in commercial paper | ||||||||||||
- | - | - | - | - | - | - | -224 | 224 | - | -1,535 | 679 | -617 |
Payments on debt (original maturities greater than three months) | ||||||||||||
806 | 1,103 | 1,634 | 2,734 | 2,030 | 1,723 | 2,317 | 1,489 | 1,194 | 1,757 | 156 | 204 | 873 |
Debt issuance costs | ||||||||||||
- | - | - | - | - | 17 | 3 | 5 | 17 | 6 | 17 | 56 | 126 |
Premiums paid on early redemption of debt (P) | ||||||||||||
0 | 17 | 52 | 3 | - | - | - | - | - | - | - | - | - |
Proceeds from exercise of employee stock options | ||||||||||||
56 | 16 | 50 | 4 | 25 | 150 | 13 | 12 | 37 | 13 | - | 177 | 835 |
Excess tax benefits from stock-based payment arrangements | ||||||||||||
- | - | - | - | 9 | 9 | - | 1 | 6 | 1 | - | 15 | 79 |
Issuance of mandatory convertible preferred stock (P) | ||||||||||||
- | - | - | - | - | 1,211 | - | - | - | - | - | - | - |
Dividends paid to shareholders | ||||||||||||
57 | 119 | 162 | 228 | 223 | 161 | 132 | 131 | 131 | 125 | 228 | 556 | 590 |
Distributions to noncontrolling interests | ||||||||||||
0 | 0 | 14 | 226 | 106 | 120 | 109 | 95 | 257 | 256 | 140 | 295 | 368 |
Issuance of common stock (R) | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 876 | - | 0 |
Repurchase of common stock | ||||||||||||
1,150 | 0 | 0 | - | - | - | - | - | - | - | - | 1,082 | 2,496 |
Contributions from noncontrolling interests | ||||||||||||
- | - | - | 51 | 2 | 53 | 12 | 171 | 169 | 162 | 480 | 643 | 474 |
Acquisitions of noncontrolling interests | ||||||||||||
- | - | - | - | - | 28 | - | - | - | 66 | - | - | 3 |
Net cash transferred from Alcoa Corporation at separation | ||||||||||||
- | - | - | 421 | 0 | - | - | - | - | - | - | - | - |
Other | ||||||||||||
-13 | -19 | -17 | -1 | -3 | - | - | - | - | - | - | - | - |
Cash provided from (used for) financing activities | ||||||||||||
-1,568 | -649 | -1,015 | -757 | -441 | 2,250 | -679 | -798 | 62 | -952 | 37 | 1,478 | -1,538 |
Investing Activities | ||||||||||||
Capital expenditures | ||||||||||||
586 | 768 | 596 | 1,125 | 1,180 | 1,219 | 1,193 | 1,261 | 1,287 | 1,015 | 1,617 | 3,413 | 3,614 |
Proceeds from the sale of assets and businesses (P) | ||||||||||||
103 | 309 | -9 | - | - | - | - | - | - | - | - | - | - |
Sales of investments (U) | ||||||||||||
-73 | -9 | -890 | - | - | - | - | - | - | - | - | - | - |
Capital expenditures of discontinued operations | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 5 | 25 | 22 |
Acquisitions, net of cash acquired (S) | ||||||||||||
- | - | - | -10 | -97 | 2,385 | - | - | 240 | 72 | -112 | 276 | 15 |
Proceeds from the sale of assets and businesses (Q) | ||||||||||||
- | - | - | -692 | -112 | -253 | -13 | 615 | 38 | 4 | -65 | 2,710 | 183 |
Acquisitions of noncontrolling interests (F & P) | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | -141 | - |
Additions to investments | ||||||||||||
- | - | - | - | 134 | 195 | 293 | 300 | 374 | 352 | 181 | 1,303 | 131 |
Sales of investments | ||||||||||||
- | - | - | 280 | 40 | 57 | - | 31 | 54 | 141 | 1,031 | 72 | 2,011 |
Cash receipts from sold receivables (J) | ||||||||||||
995 | 1,016 | 792 | 778 | - | - | - | - | - | - | - | - | - |
Net change in restricted cash | ||||||||||||
- | - | - | - | 20 | 2 | -170 | -87 | 4 | -7 | - | - | - |
Other | ||||||||||||
2 | 1 | -243 | 44 | -25 | -31 | -13 | -69 | 39 | -15 | -4 | 34 | 34 |
Cash provided from investing activities | ||||||||||||
583 | 565 | 1,320 | 591 | -1,060 | -3,460 | -1,290 | -759 | -1,852 | -1,272 | -721 | -2,410 | -1,625 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||||||||
0 | -4 | 9 | -8 | -39 | -24 | -33 | -18 | -7 | 25 | 38 | -23 | 29 |
Net change in cash, cash equivalents and restricted cash | ||||||||||||
-579 | 129 | 275 | -79 | 42 | 440 | -424 | -78 | 396 | 62 | 719 | 279 | -23 |