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YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
das2
N/A
N/A
São Luís (Alumar)
447
268
Canada
Baie Comeau, Québec
314
314
Bécancour, Québec
413
350
Deschambault, Québec
287
287
Iceland
Fjarðaál
351
351
Norway
Lista
95
95
Mo... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Country
Facility
Nameplate
Capacity1
(000 mtpy)
Alcoa
Corporation
Consolidated
Capacity1
(000 mtpy)
Saudi Arabia
Ras Al Khair (MAC)
804
202
(1)
Nameplate Capacity is an estimate based on des... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
. The portfolio review includes evaluations to improve cost positioning, including curtailments, closures, or divestitures. As of December 31, 2022, the Company had approximately 868,000 mtpy of idle... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
elter, and 11,000 mtpy of idle capacity at the Portland smelter.
On August 30, 2022, the Company announced the curtailment of one-third of its production capacity (31 kmt) at the Lista (Norway) smel... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Warrick smelter in the state of Indiana.
In January 2022, Alcoa completed the curtailment of the San Ciprián aluminum smelter’s 228,000 mtpy of annual capacity while the casthouse continues to oper... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
October 1, 2025 until the end of 2026, the minimum production will be 75 percent of the nominal capacity of 228,000 mtpy.
On September 20, 2021, the Company announced its plan to restart its 268,00... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Portland aluminum smelter in Australia that was previously announced in November 2021. With the restart complete, the plant is operating at approximately 95 percent of its total capacity and Alcoa h... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
-time or day ahead) or years in duration, and contracts can be executed for immediate delivery or years in advance. Pricing may be fixed, indexed to an underlying fuel source or other index such as L... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
reito
155
1,075,678
Machadinho
119
1,343,885
Serra do Facão
60
176,617
Canada
Manicouagan
133
1,160,170
United States
Warrick
657
4,072,355
TOTAL
1,274
8,937,069
The figures in th... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
During
2022
, approximately 3
% of the
generation
from the Warrick power plant was sold into the market under its current operating permits. Alcoa Power Generating Inc., a subsidiary of the Com... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
external energy for our smelters and refineries.
External Energy Source
Region
Electricity
Natural Gas
North America
Québec, Canada
Alcoa’s smelter located in Baie-Comeau, Quebec, purchases a... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
competitive bid basis from a variety of sources, including producers in the gas production areas and independent gas marketers. Contract pricing for gas is typically based on a published industry in... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
share) which was underpinned by an additional fixed-for-floating swap contract with AGL Hydro Partnership for 72 MW. These swap contracts manage exposure to the variable energy rates from the NEM sp... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
4. On a combined basis, these gas supply arrangements are expected to cover approximately 80% of the refineries’ gas requirements through 2027.
In January 2023, the Company reduced production at th... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
purchases its reduced electricity requirements under a bilateral spot power contract that expired on June 30, 2022.
In anticipation of a phased restart beginning in 2024 as agreed with workers’ rep... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
0 to 2035. The remaining 50 percent was purchased under short-term contracts. In 2022, approximately 25 percent of the necessary power at the Mosjøen (Norway) smelter was purchased at spot rates. Fin... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
to review operating levels with changes in market conditions.
Iceland
Landsvirkjun, the Icelandic national power company, supplies competitively priced electricity from a hydroelectric facility to... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
its 268 kmt per year share of capacity at the Alumar smelter in São Luís, Brazil, which had been fully curtailed since 2015. The first metal sales occurred in the second quarter of 2022 and the Comp... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
renewable sources.
Sources and Availability of Raw Materials
Alcoa Corp believes that the raw materials necessary to its business are and will continue to be available and that the sources and ava... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, including AWAC entities, and believes its present sources of bauxite on a global basis are sufficient to meet the forecasted requirements of its alumina refining operations for the foreseeable futu... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
– 60
For each metric ton of aluminum produced, Alcoa consumes the following amounts of the identified raw material inputs (approximate range across relevant facilities):
Raw Material
Units
Consu... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
includes alloying materials. Because of the number of different types of elements that can be used to produce various alloys, providing a range of such elements would not be meaningful. With the exc... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
demand in key markets in North America, South America, Europe, the Middle East, Australia, and China.
We compete with a variety of both U.S. and non-U.S. companies in all major markets across the a... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
are among the world’s largest bauxite miners. The majority of bauxite mined globally is converted to alumina for the production of aluminum. In 2022, approximately 8% of Alcoa’s bauxite shipments we... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, price, and proximity to customers, as well as strategically located long-term bauxite resources in Australia, Brazil, and Guinea, which is home to the world’s largest reserves of high-quality metal... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Key factors influencing competition in the alumina market include cost position, price, reliability of bauxite supply, quality, and proximity to customers and end markets. We had an average cost posi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
segment, competition is dependent upon the type of product we are selling.
The market for primary aluminum is global, and demand for aluminum varies widely from region to region. We compete with co... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
aluminum products compete with other materials, the characteristics of aluminum are also a significant factor, particularly its light weight, strength, and recyclability.
Increasingly, Alcoa is see... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
utilization.
Patents, Trade Secrets and Trademarks
Alcoa Corp believes that its domestic and international patent, trade secret and trademark assets provide it with a competitive advantage. Alcoa ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
also has a number of domestic and international registered trademarks that have significant recognition within the markets that are served, including the name “Alcoa” and the Alcoa symbol.
In conne... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Company’s operations or compliance activities more costly. These laws and regulations include those relating to safety and health, environmental protection and compliance, tailings management, data ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
regulations, see Part I Item 1A of this Form 10-K.
11
Environmental
Alcoa is subject to extensive federal, state/provincial, and local environmental laws and regulations and other requirements, i... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and regulations related to climate change, particularly related to the reduction of greenhouse gas emissions.
We maintain remediation and reclamation plans for various sites, and we manage environm... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
are subject to a broad range of foreign, federal, state, and local laws and regulations relating to occupational health and safety, and our safety program includes measures required for compliance. ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
our ability to attract, develop, and retain a diverse population of talented, qualified, and highly skilled employees at all levels of our organization, including the individuals who comprise our gl... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Principles on Business and Human Rights.
Employees
As of December 31, 2022, Alcoa had approximately 13,100 employees in 17 countries. Approximately 9,600 of our global employees are covered by col... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
(IAM) and the International Brotherhood of Electric Workers (IBEW).
In 2022, the Company continued the process of hiring employees for the restart of the Alumar smelter in Brazil and approximately ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
formal and standardized process for investigating fatal and serious injury incidents (including potential incidents), management of critical risks and safety hazards, and efforts to eliminate hazard... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
to provide trusting workplaces that are safe, respectful, and inclusive of all individuals and that reflect the diversity of the communities in which we operate. Our mission is to build a stronger E... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
women and 12 percent are racially/ethnically diverse.
In 2022, we continued our IDE strategic efforts with leadership from our Global Inclusion & Diversity Council and three inclusion groups: AWARE... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
10-Q, Current Reports on Form 8-K, and amendments to those reports as soon as reasonably practicable after the Company electronically files such material with, or furnishes it to, the Securities and... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
well as through press releases, filings with the SEC, conference calls, and webcasts.
Information about our Executive Officers
The names, ages, positions, and areas of responsibility of the execut... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and Environment, Health, Safety and Sustainability at ParentCo. Prior to that time, Mr. Harvey served as Chief Operating Officer, and was also Chief Financial Officer, for GPP at ParentCo. In additi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
October 2019. Ms. Beerman was Director, Global Shared Services Strategy and Solutions from November to December 2016. In 2016, Ms. Beerman held a consulting role with the Finance Department of Paren... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and Innovation
Officer of Alcoa Corporation since February 1, 202
3.
Mr. Bacchi is responsible for strategy, corporate and business development, energy, non-operated
oint
entures, and curtailed ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
from October 2014 through October 2016 and the Director, Corporate Treasury from 2012 to 2014. Prior to this time, Mr. Bacchi held various roles of increasing responsibility in areas includ
ing
fi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
July 2020 and served as the Vice President, Government Affairs for the Western Hemisphere from November 2016 through July 2020. Prior to the Separation Transaction, Ms. Elam Harden held various role... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
In this role, Mr. Heeter has overall responsibility for the Company’s global legal, compliance, governance, and security matters. He previously also served as the Secretary of Alcoa Corporation from... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Vice President and Chief Human Resources Officer of Alcoa Corporation since April 2020. Ms. Jones oversees all aspects of human resources management, including talent and recruitment, compensation a... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Co in 2006 and held a variety of human resource positions at ParentCo, including Human Resources Director, Europe Building & Construction and Human Resources Director, UK and Ireland in ParentCo’s Bu... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ParentCo from April 1, 2013 to November 2016. Mr. Oplinger joined ParentCo in 2000, and through 2013 held key corporate positions in financial analysis and planning and also served as Director of In... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
joining Alcoa, Ms. Thomas was the Vice President, Finance at Vista Metals Corporation, an aluminum products company, from October 2015 to February 2022 and the Chief Operating Officer at Electronic ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
risks associated with Alcoa’s business and industry. In addition to the factors discussed elsewhere in this report, the following risks and uncertainties could have a material adverse effect on our ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
adversely affect us in future periods. See Part II Item 7 of this Form 10-K in Management’s Discussion and Analysis of Financial Condition and Results of Operations under caption Forward-Looking Sta... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
economy, foreign currency exchange rates, energy prices, or other factors beyond our control. The demand for aluminum is also highly correlated to economic growth, and we could be adversely affected... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
customers participate are also cyclical in nature and experience significant fluctuations in demand for their products based on economic conditions, consumer demand, raw material and energy costs, a... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
several Southeast Asian countries, could have an adverse effect on the global supply and demand for aluminum and aluminum prices. Also, changes in the aluminum market can cause changes in the alumin... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
’ business operations is curtailed or if the cost of that credit is increased, the resulting inability of our customers or of their customers to either access credit or absorb the increased cost of t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
operations.
Market-driven balancing of global aluminum supply and demand may be disrupted by non-market forces.
In response to market-driven factors relating to the global supply and demand of alu... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
conditions and result in heightened economic sanctions from the U.S. and the international community in a manner that adversely affects our industry. The disruption of the market-driven balancing of... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
comprises the incremental price over the base LME component that is associated with the physical delivery of metal to a particular region (e.g., the Midwest premium for metal sold in the United Stat... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2 at $3,985 per metric ton, with the low point of the year in September 2022 at $2,080 per metric ton.
While global inventories declined in 2022, high LME inventories could lead to a reduction in th... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
pricing environment, deterioration in LME aluminum prices, or a decrease in regional premiums or product premiums could have a material adverse effect on our business, financial condition, or result... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
beyond our control, that could adversely affect our business, financial condition, or results of operations.
We have operations or activities in numerous countries and regions outside the United St... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
government, imposition of sanctions, changes to import or export regulations and fees, renegotiation, revocation or nullification of existing agreements, leases, licenses, and permits, and changes t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of a pandemic or epidemic, which could cause disruptions in our operations, supply chain, or workforce;
War or terrorist activities;
•
Information systems failures or disruptions, including due t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
experienced some of these events, and while the impact of any of the foregoing factors is difficult to predict, any one or more of them could adversely affect our business, financial condition, or r... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, including actions by foreign governments such as changes in foreign policy or fiscal regimes, termination of our leases or agreements with such foreign governments, increased government regulation,... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
may be impacted by heightened levels of regulatory oversight and stakeholder focus on addressing environmental and social impacts of mining activities. Changing expectations and increased informatio... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ability to efficiently and economically conduct our operations, potentially having a materially adverse impact on our results of operations and profitability.
In addition, the permitting processes,... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
adverse impact on our results of operations and profitability. Due to mining plan approval delays in Western Australia, the Company is currently mining and processing lower grade bauxite, which has ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
locations. We may not be able to fully offset the effects of higher raw material or energy costs through price increases, productivity improvements, cost reduction programs, or reductions or curtail... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
results.
In addition, due to global supply chain disruptions, we may not be able to obtain sufficient supply of our raw materials, energy, or other key inputs in a timely manner, including due to s... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
supplies are interrupted or become uncertain.
Our refineries and smelters consume substantial amounts of natural gas and electricity in the production of alumina and aluminum. The prices for and av... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
contracts for our operations vary in length and market exposure, and we could be, and have been, negatively impacted by:
•
Unavailability of or interruptions or uncertainty in energy supply or unp... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
rates;
17
•
Curtailment of one or more facilities due to high energy costs that render their continued operation uneconomic, discontinuation of power supply interruptibility rights granted to us ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
higher cost, the requirement to repay all or a portion of the benefit we received under a power supply interruptibility regime, or the requirement to remedy any non-compliance of an energy framework... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
as those listed above, can result in high energy costs, the disruption of an energy source, finding a replacement energy source at a higher cost, the requirement to repay all or a portion of the ben... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
portfolio, capital investments, and developing technologies.
We are executing a strategy to be a low cost, competitive, and integrated aluminum production business by implementing productivity and ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
million metric tons of smelting and refining capacity, respectively. While no actions were taken in 2022 related to these targets, the Company took actions in response to market conditions, and the ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
availability of buyers willing to purchase such assets at prices acceptable to us, delays due to any regulatory approvals or government intervention, continuing environmental obligations, and third ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
. The effect of closures, curtailments, and divestitures over time will reduce the Company’s cash flow and earnings capacity and result in a less diversified portfolio of businesses, and we will have... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
producer across our product segments of bauxite, alumina, and aluminum, and have up to 85% of smelting production from renewable energy sources, which aligns with our long-term goal of having the lo... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
development projects and new technologies, successful deployment and commercialization of effective new technologies, and cost-effective long-term energy solutions. We may not achieve the expected r... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
such a venture or transaction could increase the number of our outstanding shares or amount of outstanding debt and affect our financial position.
We participate in joint ventures, have formed stra... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
sought to protect our interests, joint ventures, and strategic alliances inherently involve special risks. Whether or not the Company holds majority interests or maintains operational control in suc... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the joint venture’s or strategic alliance’s best interests;
•
As a result of financial or other difficulties, be unable or unwilling to fulfill their obligations under the joint venture, strategic... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
beneficial to us, whether due to the above-described risks, unfavorable global economic conditions, increases in costs, foreign currency fluctuations, political risks, government interventions, reta... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, such as contributing capital to expansion or maintenance projects.
We continuously evaluate and may in the future enter into additional strategic business transactions. Any such transactions could... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
management from ordinary operating matters. In addition, to the extent we consummate an agreement for the sale and disposition of an asset or asset group we may experience operational difficulties s... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
connection with such a transaction could be significant.
Global Operational Risks
Our global operations expose us to risks related to economic, political, and social conditions, including the impa... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
; furthermore, incidents related to our industry could generate negative publicity and impact the social acceptability of our operations in such locations, including by damaging our reputation, our r... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
United States,
in recent years,
the
U.S. government
has taken actions
with respect to
the implementation of
significant changes to certain trade policies, including import tariffs and quotas,... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of the Trade Expansion Act of 1962
(Section 232) in 2018. In 2021, the U.S. and European Union (EU) reached agreement whereby the U.S. lifted the Section 232 duties and applied a tariff-rate-quota a... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ina price volatility and overall market uncertainty.
We are exposed to fluctuations in foreign currency exchange rates and interest rates, as well as inflation and other economic factors in the coun... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
in U.S. dollars. As the U.S. dollar strengthens, the cost curve shifts down for smelters outside the United States, but costs for our U.S. smelting portfolio may not decline.
Changes in tax laws or... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2023 and implemented by participating jurisdictions as early as 2024. The impact to the Company of such an agreement is uncertain until applicable rules are promulgated and implemented by the partic... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
a result of a change in the mix of earnings in countries with differing statutory tax rates, changes in the overall profitability of the Company, changes in tax legislation and rates, changes in gen... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
historic third-party alumina sales. The Notices asserted claims for income tax payable by AofA of approximately $143 (A$214), exclusive of interest and penalties. The Notices also include claims for... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
view on the imposition of administrative penalties related to the tax assessment, proposing penalties of approximately $86 (A$128). AofA disagrees with the ATO’s proposed position on penalties and s... |
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