Legal Proceedings.
+Added: (dollars in millions)
In the ordinary course of its business, Alcoa is involved in a number of lawsuits and claims, both actual and potential.
Proceedings that were previously disclosed may no longer be reported because, as a result of rulings in the case, settlements, changes in our business, or other developments, in our judgment, they are no longer material to Alcoa’s business, financial position or results of operations.
−Removed: See Part II Item 8 of this Form 10-K in Note S to the Consolidated Financial Statements for additional information.
−Removed: In addition to the matters discussed below, various other lawsuits, claims, and proceedings have been or may be instituted or asserted against Alcoa Corporation, including those pertaining to environmental, safety and health, commercial, tax, product liability, intellectual property infringement, employment, employee and retiree benefit matters, and other actions and claims arising out of the normal course of business.
+Added: See Part II Item 8 of this Form 10-K in Note S to the Consolidated Financial Statements for additional information regarding proceedings.
+Added: In addition to the matters discussed below, various other lawsuits, claims, and proceedings have been or may be instituted or asserted against Alcoa Corporation, including those pertaining to environmental, safety and health, commercial, tax, product liability, intellectual property infringement, governance, employment practices, employee and retiree benefit matters, and other actions and claims arising out of the normal course of business.
While the amounts claimed in these other matters may be substantial, the ultimate liability is not readily determinable because of the considerable uncertainties that exist.
18 unchanged sentences
At such time, the Company was unable to reasonably predict an outcome or to estimate a range of reasonably possible loss, and thereafter the Red Dust Claims docket became inactive for several years.
−Removed: The Court issued an amended case management order dividing the complaints filed in the Red Dust docket into groups of 50 complaints, designated Groups A though I in March 2022.
+Added: In March 2022, the Superior Court of the Virgin Islands issued an amended case management order dividing the complaints filed in the Red Dust docket into groups of 50 complaints, designated Groups A though I.
The parties selected 10 complaints from Group A to proceed to trial as the Group A lead cases.
−Removed: In November 2023, the Court issued an amended case management order with regard to the Group A lead cases scheduling trials to begin in July 2024.
−Removed: Trials with regard to the Group A lead cases will continue through March 2025.
−Removed: Concurrently, the Court is considering discovery issues with respect to other group cases.
−Removed: The Company remains unable to reasonably predict an outcome or to estimate the range of reasonably possible loss in the Red Dust Claims docket cases.
+Added: In May 2024, the Court issued an amended case management order with regard to the Group A lead cases scheduling trials to begin in November 2024.
+Added: The Court further ordered the parties to participate in mediation on or before August 31, 2024.
+Added: Alcoa participated in the court-ordered mediation in August 2024 and reached a settlement agreement to resolve the matter in its entirety, which resulted in no further impact to Alcoa’s results of operations.
+Added: The settlement was finalized in January 2025 upon receiving signed release agreements or final dismissals from every plaintiff.
+Added: This matter is now closed.
Environmental Matters
6 unchanged sentences
Environmental Protection Agency (the EPA).
−Removed: The NOV alleges violations under the Clean Air Act at the Company’s curtailed Intalco (Washington) smelter from when the smelter was operational.
−Removed: The EPA has referred the matter to the U.S.
−Removed: Department of Justice, Environment and Natural Resources Division (the DOJ).
−Removed: The DOJ and the Company are engaged in discussions with respect to a resolution of this matter.
+Added: The NOV alleges violations under the Clean Air Act at the Company’s Intalco smelter from when the smelter was operational.
+Added: The EPA referred the matter to the U.S.
+Added: Department of Justice, Environment and Natural Resources Division (the DOJ) in May 2022.
+Added: The DOJ and the Company agreed to a stipulated settlement, which was filed with the United States District Court for the Western District of Washington at Seattle on July 18, 2024, requiring the Company to pay a civil fine of $5.
+Added: On October 15, 2024, the Court approved the stipulated settlement of $5, and payment has been remitted by the Company.
+Added: This matter is now closed.
Asbestos Litigation
7 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.