Alcoa 2012 Annual Report Download - page 117
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At December 31, 2012 and 2011, the total amount of inventories valued on a LIFO basis was 35%. If valued on an
average-cost basis, total inventories would have been $770 and $801 higher at December 31, 2012 and 2011,
respectively. During the three-year period ended December 31, 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
$1 ($1 after-tax) in 2012, $2 ($1 after-tax) in 2011, and $27 ($17 after-tax) in 2010.
H. Properties, Plants, and Equipment, Net
December 31, 2012 2011
Land and land rights, including mines $ 676 $ 665
Structures:
Alumina:
Alumina refining 3,319 3,280
Bauxite mining 1,563 1,597
Primary Metals:
Aluminum smelting 4,042 3,950
Power generation 604 667
Global Rolled Products 1,232 1,204
Engineered Products and Solutions 678 648
Other 760 714
12,198 12,060
Machinery and equipment:
Alumina:
Alumina refining 5,279 5,223
Bauxite mining 650 661
Primary Metals:
Aluminum smelting 8,114 8,266
Power generation 994 1,012
Global Rolled Products 5,174 5,059
Engineered Products and Solutions 2,415 2,252
Other 883 764
23,509 23,237
36,383 35,962
Less: accumulated depreciation, depletion, and amortization 19,190 18,326
17,193 17,636
Construction work-in-progress 1,754 1,646
$18,947 $19,282
As of December 31, 2012 and 2011, the net carrying value of temporarily idled smelting assets was $325 and $166,
representing 591 kmt and 353 kmt of idle capacity, respectively. Additionally, the net carrying value of permanently
idled smelting assets, representing 291 kmt, was written off at the end of 2011 (see Note D). Also, the net carrying
value of temporarily idled refining assets was $68 and $65 as of December 31, 2012 and 2011, representing 1,277 and
1,177 kmt of idle capacity, respectively.
I. Investments
December 31, 2012 2011
Equity investments $1,782 $1,524
Other investments 78 102
$1,860 $1,626
106