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2014_Annual_Report_Alcoa.pdf-Alcoa and subsidiaries Statement of Consolidated
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2014_Annual_Report_Alcoa.pdf-Alcoa and subsidiaries Statement of Consolidated
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2014_Annual_Report_Alcoa.pdf-Alcoa and subsidiaries Statement of Consolidated
Page 5
G. Inventories
December 31,
2014
2013
Finished goods
$
768
$
578
Work-in-process
1,035
828
Bauxite and alumina
578
581
Purchased raw materials
508
474
Operating supplies
193
244
$3,082
$2,705
At December 31, 2014 and 2013, the total amount of inventories valued on a LIFO basis was $1,514 and $1,169,
respectively. If valued on an average-cost basis, total inventories would have been $767 and $691 higher at
December 31, 2014 and 2013, respectively. During 2013 and 2012, reductions in LIFO inventory quantities caused
partial liquidations of the lower cost LIFO inventory base. These liquidations resulted in the recognition of income of
$26 ($17 after-tax) in 2013 and $1 ($1 after-tax) in 2012.
H. Properties, Plants, and Equipment, Net
December 31,
2014
2013
Land and land rights, including mines*
$
548
$
639
Structures:
Alumina:
Alumina refining
2,750
3,049
Bauxite mining
1,403
1,591
Primary Metals:
Aluminum smelting
3,725
3,863
Power generation
645
683
Global Rolled Products
1,276
1,256
Engineered Products and Solutions*
786
693
Other
715
755
11,300
11,890
Machinery and equipment:
Alumina:
Alumina refining
4,165
4,685
Bauxite mining
524
596
Primary Metals:
Aluminum smelting
7,210
7,674
Power generation
1,080
1,101
Global Rolled Products
5,333
5,374
Engineered Products and Solutions*
3,071
2,481
Other
820
859
22,203
22,770
Less: accumulated depreciation, depletion, and amortization
34,051
19,091
35,299
19,227
Construction work-in-progress*
14,960
1,466
16,072
1,567
$16,426
$17,639
* As of December 31, 2014, these line items include amounts related to the acquisition of an aerospace business (see
Note F).
113


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