Alcoa 2013 Annual Report Download - page 125
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Contingent Payments. In connection with the 2005 acquisition of two fabricating facilities in Russia, Alcoa could be
required to make contingent payments of approximately $50 through 2015 based upon the achievement of various
financial and operating targets. Any such payment would be reflected as additional goodwill.
G. Inventories
December 31, 2013 2012
Finished goods $ 578 $ 542
Work-in-process 828 866
Bauxite and alumina 581 618
Purchased raw materials 474 536
Operating supplies 244 263
$2,705 $2,825
At December 31, 2013 and 2012, the total amount of inventories valued on a LIFO basis was 34% and 35%, respectively.
If valued on an average-cost basis, total inventories would have been $691 and $770 higher at December 31, 2013 and
2012, respectively. During the three-year period ended December 31, 2013, 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, $1 ($1 after-tax) in 2012, and $2 ($1 after-tax) in 2011.
H. Properties, Plants, and Equipment, Net
December 31, 2013 2012
Land and land rights, including mines $ 639 $ 676
Structures:
Alumina:
Alumina refining 3,049 3,319
Bauxite mining 1,591 1,563
Primary Metals:
Aluminum smelting 3,863 4,042
Power generation 683 604
Global Rolled Products 1,256 1,232
Engineered Products and Solutions 693 678
Other 755 760
11,890 12,198
Machinery and equipment:
Alumina:
Alumina refining 4,685 5,279
Bauxite mining 596 650
Primary Metals:
Aluminum smelting 7,674 8,114
Power generation 1,101 994
Global Rolled Products 5,374 5,174
Engineered Products and Solutions 2,481 2,415
Other 859 883
22,770 23,509
Less: accumulated depreciation, depletion, and amortization
35,299
19,227
36,383
19,190
Construction work-in-progress
16,072
1,567
17,193
1,754
$17,639 $18,947
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