Alcoa 2012 Annual Report Download - page 14

PART I
Item 1. Business.
General
Formed in 1888, Alcoa Inc. is a Pennsylvania corporation with its principal office in New York, New York. In this
report, unless the context otherwise requires, “Alcoa” or the “Company” means Alcoa Inc. and all subsidiaries
consolidated for the purposes of its financial statements.
The Company’s Internet address is http://www.alcoa.com. Alcoa makes available free of charge on or through its
website its annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and
amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of
1934 as soon as reasonably practicable after the Company electronically files such material with, or furnishes it to, the
Securities and Exchange Commission (SEC). The SEC maintains an Internet site that contains these reports at
http://www.sec.gov.
Forward-Looking Statements
This report contains (and oral communications made by Alcoa may contain) statements that relate to future events and
expectations and, as such, constitute forward-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include those containing such words as “anticipates,” “believes,”
“estimates,” “expects,” “forecast,” “hopes,” “outlook,” “projects,” “should,” “targets,” “will,” “will likely result,” or
other words of similar meaning. All statements that reflect Alcoa’s expectations, assumptions or projections about the
future other than statements of historical fact are forward-looking statements, including, without limitation, forecasts
concerning aluminum industry growth or other trend projections, anticipated financial results or operating
performance, and statements about Alcoa’s strategies, objectives, goals, targets, outlook, and business and financial
prospects. Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other
factors and are not guarantees of future performance. Actual results, performance or outcomes may differ materially
from those expressed in or implied by those forward-looking statements. For a discussion of some of the specific
factors that may cause Alcoa’s actual results to differ materially from those projected in any forward-looking
statements, see the following sections of this report: Part I, Item 1A. (Risk Factors), Part II, Item 7. (Management’s
Discussion and Analysis of Financial Condition and Results of Operations), including the disclosures under Segment
Information and Critical Accounting Policies and Estimates, and Note N and the Derivatives Section of Note X to the
Consolidated Financial Statements in Part II, Item 8. (Financial Statements and Supplementary Data). Alcoa disclaims
any intention or obligation to update publicly any forward-looking statements, whether in response to new information,
future events or otherwise, except as required by applicable law.
Overview
Alcoa is the world leader in the production and management of primary aluminum, fabricated aluminum, and alumina
combined, through its active and growing participation in all major aspects of the industry: technology, mining,
refining, smelting, fabricating, and recycling. Aluminum is a commodity that is traded on the London Metal Exchange
(LME) and priced daily. Aluminum and alumina represent more than 80% of Alcoa’s revenues, and the price of
aluminum influences the operating results of Alcoa. Non-aluminum products include precision castings and aerospace
and industrial fasteners. Alcoa’s products are used worldwide in aircraft, automobiles, commercial transportation,
packaging, building and construction, oil and gas, defense, consumer electronics, and industrial applications.
Alcoa is a global company operating in 30 countries. Based upon the country where the sale occurred, the U.S. and
Europe generated 52% and 25%, respectively, of Alcoa’s sales in 2012. In addition, Alcoa has investments and
operating activities in, among others, Australia, Brazil, China, Guinea, Iceland, Russia, and the Kingdom of Saudi
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