Novelis (NVL) 10-Q 11 Aug 15 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2015	Aug. 10, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Novelis Inc.
Entity Central Index Key	1,304,280
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--03-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		1,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Net sales	$ 2,634	$ 2,680
Cost of goods sold (exclusive of depreciation and amortization)	2,400	2,329
Selling, general and administrative expenses	100	108
Depreciation and amortization	87	89
Research and development expenses	13	12
Interest expense and amortization of debt issuance costs	80	81
Gain on assets held for sale	0	(11)
Loss on extinguishment of debt	13	0
Restructuring and impairment, net	15	6
Equity in net loss of non-consolidated affiliates	1	2
Other (income) expense, net	(30)	5
Total expenses	2,679	2,621
(Loss) income before income taxes	(45)	59
Income tax provision	15	24
Net (loss) income	(60)	35
Net income attributable to noncontrolling interests	0	0
Net (loss) income attributable to our common shareholder	$ (60)	$ 35

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (60)	$ 35
Net income attributable to noncontrolling interests	0	0
Other comprehensive income (loss):
Other comprehensive income before income tax effect	71	27
Income tax provision (benefit) related to items of other comprehensive income	6	(5)
Other comprehensive income, net of tax	65	32
Comprehensive Income	5	67
Less: Comprehensive income attributable to noncontrolling interest	(2)	1
Comprehensive income attributable to our common shareholder	7	66
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax	42	27
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax	38	13
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Tax	$ 9	$ 13

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Mar. 31, 2014
Current assets
Cash and cash equivalents	$ 456	$ 628	$ 337	$ 509
Accounts receivable, net
— third parties (net of uncollectible accounts of $3 as of June 30, 2015 and March 31, 2015)	1,430	1,289
— related parties	55	53
Inventories	1,526	1,431
Prepaid expenses and other current assets	130	112
Fair value of derivative instruments	128	77
Deferred income tax assets	50	79
Total assets held for sale	5	6
Total current assets	3,780	3,675
Property, plant and equipment, net	3,554	3,542
Goodwill	607	607
Intangible assets, net	580	584
Investment in and advances to non–consolidated affiliate	464	447
Deferred income tax assets	111	95
Other long–term assets
— third parties	125	137
— related parties	17	15
Total assets	9,238	9,102
Current liabilities
Current portion of long–term debt	107	108
Short–term borrowings	1,021	846
Accounts payable
— third parties	1,817	1,854
— related parties	46	44
Fair value of derivative instruments	128	149
Accrued expenses and other current liabilities	506	572
Deferred income tax liabilities	18	20
Total current liabilities	3,643	3,593
Long–term debt, net of current portion	4,434	4,349
Deferred income tax liabilities	256	261
Accrued postretirement benefits	766	748
Other long–term liabilities	204	221
Total liabilities	$ 9,303	$ 9,172
Commitments and contingencies
Shareholder’s deficit
Common stock, no par value; unlimited number of shares authorized; 1,000 shares issued and outstanding as of June 30, 2015 and March 31, 2015	$ 0	$ 0
Additional paid–in capital	1,404	1,404
Accumulated deficit	(985)	(925)
Accumulated other comprehensive loss	(494)	(561)	$ (60)	$ (91)
Total deficit of our common shareholder	(75)	(82)
Noncontrolling interests	10	12
Total deficit	(65)	(70)
Total liabilities and deficit	$ 9,238	$ 9,102

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions, None in scaling factor is -9223372036854775296	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015
Statement of Financial Position [Abstract]
Allowances for accounts receivable	$ 3		$ 3
Common stock, par value (in usd per share)
Common stock, shares authorized	unlimited	unlimited
Common stock, shares issued	1,000		1,000
Common stock, shares outstanding	1,000		1,000

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
OPERATING ACTIVITIES
Net (loss) income	$ (60)	$ 35
Adjustments to determine net cash used in operating activities:
Depreciation and amortization	87	89
Gain on unrealized derivatives and other realized derivatives in investing activities, net	(32)	(8)
Gain on assets held for sale	0	(11)
Loss on sale of assets	1	1
Impairment charges	1	0
Loss on extinguishment of debt	13	0
Deferred income taxes	3	3
Amortization of fair value adjustments, net	3	3
Equity in net loss of non-consolidated affiliates	1	2
Gain on foreign exchange remeasurement of debt	(2)	0
Amortization of debt issuance costs and carrying value adjustments	5	6
Other, net	0	(1)
Changes in assets and liabilities including assets and liabilities held for sale (net of effects from divestitures):
Accounts receivable	(130)	(169)
Inventories	(75)	(116)
Accounts payable	(29)	245
Other current assets	(15)	(14)
Other current liabilities	(66)	(84)
Other noncurrent assets	12	(10)
Other noncurrent liabilities	(5)	5
Net cash used in operating activities	(288)	(24)
INVESTING ACTIVITIES
Capital expenditures	(129)	(138)
Proceeds from sales of assets, third party, net of transaction fees and hedging	0	34
Proceeds (outflows) from investment in and advances to affiliates, net	(1)	(16)
(Outflows) proceeds from settlement of other undesignated derivative instruments, net	(7)	1
Net cash used in investing activities	(137)	(119)
FINANCING ACTIVITIES
Proceeds from issuance of long-term and short-term borrowings	139	105
Principal payments of long-term and short-term borrowings	(68)	(53)
Revolving credit facilities and other, net	182	166
Return of capital to our common shareholder	0	(250)
Debt issuance costs	(10)	0
Net cash provided by (used in) financing activities	243	(32)
Net decrease in cash and cash equivalents	(182)	(175)
Effect of exchange rate changes on cash	10	3
Cash and cash equivalents — beginning of period	628	509
Cash and cash equivalents — end of period	$ 456	$ 337

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Shareholder's Equity (Unaudited) - 3 months ended Jun. 30, 2015 - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss (AOCI) [Member]	Non-controlling interests [Member]
Balance, shares at Mar. 31, 2015		1,000
Balance at Mar. 31, 2015	$ (70)	$ 0	$ 1,404	$ (925)	$ (561)	$ 12
Increase (Decrease) in Stockholders' Equity
Net loss attributable to our common shareholder	(60)			(60)
Currency translation adjustment, net of tax provision of $ — included in AOCI	42				44	(2)
Change in fair value of effective portion of cash flow hedges, net of tax provision of $8 million included in AOCI	30				30	0
Change in pension and other benefits, net of tax benefit of $2 million included in AOCI	(7)				(7)	0
Balance, shares at Jun. 30, 2015		1,000
Balance at Jun. 30, 2015	$ (65)	$ 0	$ 1,404	$ (985)	$ (494)	$ 10

Condensed Consolidated Stateme8

Condensed Consolidated Statement of Shareholder's Equity (Unaudited) (Parenthetical) $ in Millions	3 Months Ended
	Jun. 30, 2015USD ($)
Tax provision on currency translation adjustment	$ 0
Tax provision on change in fair value of cash flow hedges	8
Tax benefit on change in pension and other benefits	2
Accumulated Other Comprehensive Income (Loss) (AOCI) [Member]
Tax provision on currency translation adjustment	0
Tax provision on change in fair value of cash flow hedges	8
Tax benefit on change in pension and other benefits	2
Non-controlling interests [Member]
Tax provision on currency translation adjustment	$ 0

Business and Summary of Signifi

Business and Summary of Significant Accounting Policies	3 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES References herein to “Novelis,” the “Company,” “we,” “our,” or “us” refer to Novelis Inc. and its subsidiaries unless the context specifically indicates otherwise. References herein to “Hindalco” refer to Hindalco Industries Limited. Hindalco acquired Novelis in May 2007. All of the common shares of Novelis are owned directly by AV Metals Inc. and indirectly by Hindalco Industries Limited. Organization and Description of Business We produce aluminum sheet and light gauge products for use in the packaging market, which includes beverage and food can and foil products, as well as for use in the automotive, transportation, electronics, architectural and industrial product markets. We have recycling operations in many of our plants to recycle post-consumer aluminum, such as used-beverage cans and post-industrial aluminum, such as class scrap. As of June 30, 2015 , we had manufacturing operations in eleven countries on four continents: North America, South America, Asia and Europe, through 25 operating facilities, including recycling operations in eleven of these plants. The March 31, 2015 condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (U.S. GAAP). The accompanying unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and accompanying notes in our Annual Report on Form 10-K for the year ended March 31, 2015 filed with the United States Securities and Exchange Commission (SEC) on May 12, 2015. Management believes that all adjustments necessary for the fair statement of results, consisting of normally recurring items, have been included in the unaudited condensed consolidated financial statements for the interim periods presented. Consolidation Policy Our condensed consolidated financial statements include the assets, liabilities, revenues and expenses of all wholly-owned subsidiaries, majority-owned subsidiaries over which we exercise control and entities in which we have a controlling financial interest or are deemed to be the primary beneficiary. We eliminate all significant intercompany accounts and transactions from our condensed consolidated financial statements. We use the equity method to account for our investments in entities that we do not control, but where we have the ability to exercise significant influence over operating and financial policies. Consolidated “ Net (loss) income attributable to our common shareholder ” includes our share of net income (loss) of these entities. The difference between consolidation and the equity method impacts certain of our financial ratios because of the presentation of the detailed line items reported in the condensed consolidated financial statements for consolidated entities, compared to a two-line presentation of " Investment in and advances to non–consolidated affiliate " and " Equity in net loss of non-consolidated affiliates ." Use of Estimates and Assumptions The preparation of our condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. The principal areas of judgment relate to (1) the fair value of derivative financial instruments; (2) impairment of goodwill; (3) impairment of long lived assets and other intangible assets; (4) impairment and assessment of consolidation of equity investments; (5) actuarial assumptions related to pension and other postretirement benefit plans; (6) tax uncertainties and valuation allowances; and (7) assessment of loss contingencies, including environmental and litigation liabilities. Future events and their effects cannot be predicted with certainty, and accordingly, our accounting estimates require the exercise of judgment. The accounting estimates used in the preparation of our condensed consolidated financial statements may change as new events occur, as more experience is acquired, as additional information is obtained and as our operating environment changes. We evaluate and update our assumptions and estimates on an ongoing basis and may employ outside experts to assist in our evaluations. Actual results could differ from the estimates we have used. Recently Adopted Accounting Standards Effective for the first quarter of fiscal 2016, we adopted Financial Accounting Standards Board (FASB) ASU No. 2013-05, Foreign Currency Matters (Topic 830): Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity . The amendments in this update provide clarification regarding the release of a cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets within a foreign entity. Our existing accounting policy complies with this guidance; therefore, there was no impact on our financial statements. Effective for the first quarter fiscal 2016, we adopted FASB issued ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. The amendment changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. Under the revised standard, a discontinued operation is (1) a component of an entity or group of components that has been disposed of by sale, disposed of other than by sale or is classified as held for sale that represents a strategic shift that has or will have a major effect on an entity’s operations and financial results or (2) an acquired business or nonprofit activity that is classified as held for sale on the date of the acquisition. There was no impact upon adoption; however, the accounting treatment and classification of future disposals under this new standard could differ from our previous treatment and classification of disposals. Recently Issued Accounting Standards In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which, when effective, will supersede the guidance in former ASC 605, Revenue Recognition . The new guidance requires entities to recognize revenue based on the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance is effective for annual periods beginning after December 15, 2016 and interim periods within that year. Early adoption is not permitted. In July 2015, the FASB approved an optional one-year deferral of the effective date. We are currently evaluating the impact of this standard on our consolidated financial position and results of operations. In February 2015, the FASB issued ASU No. 2015-02, Consolidations (Topic 810): Amendments to the Consolidations Analysis , which when effective, will (i) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities or voting interest entities, (ii) eliminate the presumption that a general partner should consolidate a limited partnership, (iii) affect the consolidation analysis of reporting entities that are involved with variable interest entities, particularly those that have fee arrangements and related party relationships, and (iv) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The guidance is effective for annual periods beginning after December 15, 2015 and interim periods within that year. Early adoption is permitted. We will adopt this standard in our first quarter ending June 30, 2016. We are currently evaluating the impact on our consolidated financial position, results of operations, and disclosures. In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs , which, when effective, will require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. The guidance is effective for annual periods beginning after December 15, 2015 and interim periods within that year. An entity should apply the new guidance on a retrospective basis, wherein the balance sheet or each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. Early adoption is permitted. We will adopt this standard in our first quarter ending June 30, 2016. Adoption of this standard will impact the presentation of deferred debt issuance costs on our consolidated financial position. In May 2015, the FASB issued ASU 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent), which, when effective, will remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. The guidance is effective for annual periods beginning after December 15, 2015 and interim periods within those fiscal years. An entity should apply the amendments retrospectively to all periods presented. Early adoption is permitted. We will adopt this standard in our annual period ending March 31, 2017. Adoption of this standard may impact the presentation of certain pension plan assets in our postretirement benefit plans footnote disclosure.

Restructuring and Impairment

Restructuring and Impairment	3 Months Ended
	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
RESTRUCTURING AND IMPAIRMENT	RESTRUCTURING AND IMPAIRMENT “Restructuring and impairment, net” for the three months ended June 30, 2015 and 2014 was $15 million and $6 million , respectively. The following table summarizes our restructuring liability activity and other impairment charges (in millions). Total restructuring liabilities Other restructuring charges (A) Total restructuring charges Other impairments (B) Total and impairments, net Balance as of March 31, 2015 $ 32 Expenses 14 $ 1 $ 15 $ — $ 15 Cash payments (10 ) Foreign currency translation and other 1 Balance as of June 30, 2015 $ 37 (A) Other restructuring charges include period expenses that were not recorded through the restructuring liability. (B) Other impairment charges not related to a restructuring activity. As of June 30, 2015 , $21 million of restructuring liabilities was classified as short-term and was included in "Accrued expenses and other current liabilities" and $16 million was classified as long-term and was included in "Other long-term liabilities" on our condensed consolidated balance sheet. As of June 30, 2015 , the restructuring liability for the North America segment was $1 million , which relates to severance charges. The other regional and corporate restructuring activities are described in more detail on the subsequent pages. Europe The following table summarizes our restructuring activity for the Europe segment by plan (in millions). Three Months Ended June 30, Year Ended March 31, Prior to April 1, 2015 2015 2014 Restructuring charges - Europe Business optimization Severance $ 1 $ 3 $ 42 Pension settlement loss (A) — — 1 Total restructuring charges - Europe $ 1 $ 3 $ 43 Restructuring payments - Europe Severance $ (2 ) $ (12 ) Total restructuring payments - Europe $ (2 ) $ (12 ) (A) These charges were not recorded through the restructuring liability. The business optimization actions include the shutdown of facilities, staff rationalization and other activities to optimize our business in Europe. As of June 30, 2015 , the restructuring liability for the Europe segment was $5 million , which relates to severance charges. South America The following table summarizes our restructuring activity for the South America segment by plan (in millions). Three Months Ended June 30, Year Ended March 31, Prior to April 1, 2015 2015 2014 Restructuring charges - South America Ouro Preto smelter closures Severance $ 1 $ 14 $ 5 Asset impairments (A) — 5 1 Environmental charges — 6 16 Contract termination and other exit related costs 1 5 6 Other past restructuring programs — 1 20 Total restructuring charges - South America $ 2 $ 31 $ 48 Restructuring payments - South America Severance $ (1 ) $ (12 ) Other (1 ) (4 ) Total restructuring payments - South America $ (2 ) $ (16 ) (A) These charges were not recorded through the restructuring liability. We ceased operations at the smelter in Ouro Preto, Brazil, in December 2014. This decision was made in an effort to further align our global sustainability strategy, as we work towards our goal of having higher recycled content in our products. Certain charges associated with this closure are reflected within the "Ouro Preto smelter closures" section above, along with our closure of a pot line in Ouro Preto, Brazil, in fiscal 2013. As of June 30, 2015 , the restructuring liability for the South America segment was $26 million and relates to $18 million of environmental charges, $1 million of severance costs, $1 million of certain labor related charges and $6 million of other exit related costs. For additional information on environmental charges see Note 16 – Commitments and Contingencies. Corporate The following table summarizes our restructuring activity for our corporate office by plan (in millions). Three Months Ended June 30, Year Ended March 31, Prior to April 1, 2015 2015 2014 Corporate Restructuring Program Severance $ 11 $ — $ — Asset impairments (A) 1 — — Total restructuring charges - Corporate $ 12 $ — $ — Restructuring payments - Corporate Severance $ (6 ) $ — Lease Termination Costs — (1 ) Total restructuring payments - Corporate $ (6 ) $ (1 ) (A) These charges were not recorded through the restructuring liability. During the first quarter of fiscal 2016, the Company implemented a series of restructuring actions at the global headquarters office to better align the organization structure and corporate staffing levels with strategic priorities. An impairment charge related to certain software items was also recorded as part of this restructuring action. As of June 30, 2015 , the restructuring liability for the corporate office was $5 million and relates to severance charges.

Inventories

Inventories	3 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES "Inventories" consist of the following (in millions). June 30, March 31, Finished goods $ 375 $ 358 Work in process 529 531 Raw materials 492 419 Supplies 130 123 Inventories $ 1,526 $ 1,431

Assets Held For Sale

Assets Held For Sale	3 Months Ended
	Jun. 30, 2015
Assets Held For Sale [Abstract]
ASSETS HELD FOR SALE	ASSETS HELD FOR SALE We are focused on capturing the global growth we see in our premium product markets of beverage can, automotive and high-end specialties. We continually analyze our product portfolio to ensure we are focused on growing in attractive market segments. The following transaction relates to exiting certain non-core operations and are steps to align our growth strategy in the premium product markets. In April 2014, we entered into agreements to sell the hydroelectric generation operations and our share of the joint venture of the Consorcio Candonga to two separate parties. In December 2014, we sold our share of the joint venture of the Consorcio Candonga to a third party. Additionally, we sold certain hydroelectric power generation operations fully owned by the Company in February 2015. The remaining hydroelectric generation operation assets which are Property, plant and equipment, totaling $5 million as of June 30, 2015 and $6 million as of March 31, 2015 , were classified as "Assets held for sale" in our condensed consolidated balance sheet. "Gain on assets held for sale" includes $7 million from the sale of our consumer foil operations in North America and $4 million from a property and mining rights sale agreement in South America during the three months ended June 30, 2014 , with no comparable sales during the three months ended June 30, 2015 .

Consolidation

Consolidation	3 Months Ended
	Jun. 30, 2015
Consolidation [Abstract]
CONSOLIDATION	CONSOLIDATION Variable Interest Entities (VIE) The entity that has a controlling financial interest in a VIE is referred to as the primary beneficiary and consolidates the VIE. An entity is deemed to have a controlling financial interest and is the primary beneficiary of a VIE if it has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. We have a joint interest in Logan Aluminum Inc. (Logan) with Tri-Arrows Aluminum Inc. (Tri-Arrows). Logan processes metal received from Novelis and Tri-Arrows and charges the respective partner a fee to cover expenses. Logan is thinly capitalized and relies on the regular reimbursement of costs and expenses by Novelis and Tri-Arrows to fund its operations. This reimbursement is considered a variable interest as it constitutes a form of financing of the activities of Logan. Other than these contractually required reimbursements, we do not provide other material support to Logan. Logan’s creditors do not have recourse to our general credit. We have a majority voting right on Logan’s board of directors and have the ability to direct the majority of Logan’s production operations. We also have the ability to take the majority share of production and associated costs. These facts qualify us as Logan’s primary beneficiary and this entity is consolidated for all periods presented. All significant intercompany transactions and balances have been eliminated. The following table summarizes the carrying value and classification of assets and liabilities owned by the Logan joint venture and consolidated in our condensed consolidated balance sheets (in millions). There are significant other assets used in the operations of Logan that are not part of the joint venture, as they are directly owned and consolidated by Novelis or Tri-Arrows. June 30, March 31, Assets Current assets Cash and cash equivalents $ 5 $ 2 Accounts receivable 30 40 Inventories 54 52 Prepaid expenses and other current assets 2 1 Total current assets 91 95 Property, plant and equipment, net 16 20 Goodwill 12 12 Deferred income taxes 67 65 Other long-term assets 4 4 Total assets $ 190 $ 196 Liabilities Current liabilities Accounts payable $ 23 $ 33 Accrued expenses and other current liabilities 13 12 Total current liabilities 36 45 Accrued postretirement benefits 168 166 Other long-term liabilities 1 2 Total liabilities $ 205 $ 213

Investment In and Advances To N

Investment In and Advances To Non-Consolidated Affiliates and Related Party Transactions	3 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
INVESTMENT IN AND ADVANCES TO NON CONSOLIDATED AFFILIATES AND RELATED PARTY TRANSACTIONS	INVESTMENT IN AND ADVANCES TO NON-CONSOLIDATED AFFILIATES AND RELATED PARTY TRANSACTIONS We had operations with two non-consolidated affiliates, Aluminium Norf GmbH (Alunorf) and Consorcio Candonga (Candonga) during the three months ended June 30, 2014 , and one unconsolidated affiliate, Aluorf, during the three months ended June 30, 2015 . Included in the accompanying condensed consolidated financial statements are transactions and balances arising from business we conduct with these non-consolidated affiliates, which we classify as related party transactions and balances. We account for these affiliates using the equity method. The following table summarizes the results of operations of these equity method affiliates for the three months ended June 30, 2015 and 2014 ; and the nature and amounts of significant transactions we had with our non-consolidated affiliates (in millions). The amounts in the table below are disclosed at 100% of the operating results of these affiliates. Three Months Ended June 30, 2015 2014 Net sales $ 117 $ 138 Costs and expenses related to net sales 118 146 Benefit for taxes on income (1 ) (2 ) Net loss $ — $ (6 ) Purchases of tolling services from Alunorf $ 58 $ 69 In December 2014, we sold our share of the joint venture of Candonga to a third party. The following table describes the period-end account balances that we had with our remaining non-consolidated affiliate, Alunorf, shown as related party balances in the accompanying condensed consolidated balance sheets (in millions). We had no other material related party balances with Alunorf. June 30, March 31, Accounts receivable-related parties $ 55 $ 53 Other long-term assets-related parties $ 17 $ 15 Accounts payable-related parties $ 46 $ 44 We earned less than $1 million of interest income on a loan, presented in "Other long-term assets-related parties" during each of the periods in the table above, due from Alunorf. We believe collection of the full receivable from Alunorf is probable; thus no allowance for loan loss was provided for this loan as of June 30, 2015 and March 31, 2015 . We have guaranteed the indebtedness for a credit facility on behalf of Alunorf. The guarantee is limited to 50% of the outstanding debt, not to exceed 6 million euros. As of June 30, 2015 , there were no amounts outstanding under our guarantee with Alunorf. We have also guaranteed the payment of early retirement benefits on behalf of Alunorf. As of June 30, 2015 , this guarantee totaled $2 million . Transactions with Hindalco and AV Metals Inc. We occasionally have related party transactions with Hindalco. During the three months ended June 30, 2015 and 2014 , “Net sales” were less than $1 million between Novelis and Hindalco. As of June 30, 2015 and March 31, 2015 , there was $1 million in "Accounts receivable, net" outstanding related to transactions with Hindalco (included within the related party balances above). On April 30, 2014, we paid a return of capital to our direct shareholder, AV Metals Inc., in the amount of $250 million .

Debt

Debt	3 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
DEBT	DEBT Debt consisted of the following (in millions). June 30, 2015 March 31, 2015 Interest Rates (A) Principal Unamortized Carrying Value Adjustments Carrying Value Principal Unamortized Carrying Value Adjustments Carrying Value Third party debt: Short-term borrowings 3.08 % $ 1,021 $ — $ 1,021 $ 846 $ — $ 846 Novelis Inc. Floating rate Term Loan Facility, due through June 2022 4.00 % 1,800 (19 ) (B) 1,781 1,731 (13 ) (B) 1,718 8.375% Senior Notes, due December 2017 8.375 % 1,100 — 1,100 1,100 — 1,100 8.75% Senior Notes, due December 2020 8.75 % 1,400 — 1,400 1,400 — 1,400 Capital lease obligations, due through July 2017 3.64 % 7 — 7 9 — 9 Novelis Korea Limited Bank loans, due through September 2020 (KRW 242 billion) 2.77 % 216 — 216 192 — 192 Novelis Switzerland S.A. Capital lease obligation, due through December 2019 (Swiss francs (CHF) 26 million) 7.50 % 28 (1 ) (C) 27 28 (1 ) (C) 27 Novelis do Brasil Ltda. BNDES loans, due through April 2021 (BRL 20 million) 5.91 % 7 (1 ) (D) 6 7 (1 ) (D) 6 Other Other debt, due through December 2020 6.19 % 4 — 4 5 — 5 Total debt 5,583 (21 ) 5,562 5,318 (15 ) 5,303 Less: Short-term borrowings (1,021 ) — (1,021 ) (846 ) — (846 ) Current portion of long term debt (107 ) — (107 ) (108 ) — (108 ) Long-term debt, net of current portion $ 4,455 $ (21 ) $ 4,434 $ 4,364 $ (15 ) $ 4,349 (A) I nterest rates are the fixed or variable rates as specified in the debt instruments (not the effective interest rate) as of June 30, 2015 , and therefore, exclude the effects of related interest rate swaps, accretion/amortization of fair value adjustments as a result of purchase accounting in connection with Hindalco's purchase of Novelis and accretion/amortization of debt issuance costs related to the debt exchange completed in fiscal 2009 and the series of refinancing transactions and additional borrowings we completed in fiscal 2011 through 2016. We present stated rates of interest because they reflect the rate at which cash will be paid for future debt service. (B) Debt existing at the time of Hindalco's purchase of Novelis was recorded at fair value. In connection with a series of refinancing transactions, a portion of the historical fair value adjustments was allocated to the Term Loan Facility, resulting in carrying value adjustments on this debt obligation. The unamortized carrying value also includes an issuance discount. (C) Debt existing at the time of Hindalco's purchase of Novelis was recorded at fair value resulting in carrying value adjustments to our capital lease obligations in Novelis Switzerland. (D) The unamortized carrying value includes issuance discounts related to the difference resulting from the contractual rates of interest specified in the instruments that are lower than the market rates of interest upon issuance. Principal repayment requirements for our total debt over the next five years and thereafter (excluding unamortized carrying value adjustments and using exchange rates as of June 30, 2015 for our debt denominated in foreign currencies) are as follows (in millions). As of June 30, 2015 Amount Short-term borrowings and current portion of long-term debt due within one year $ 1,128 2 years 89 3 years 1,205 4 years 26 5 years 22 Thereafter 3,113 Total $ 5,583 Senior Secured Credit Facilities As of June 30, 2015 , the senior secured credit facilities consisted of (1) a $1.8 billion seven -year secured term loan credit facility (Term Loan Facility), (2) a $1.2 billion five -year asset based loan facility (ABL Revolver) and (3) a $200 million 15 -month subordinated secured lien revolving facility (Subordinated Lien Revolver). As of June 30, 2015 , $18 million of the Term Loan Facility was due within one year. In June 2015, we entered into the Subordinated Lien Revolver with a maturity date of September 10, 2016. The interest rate for the Subordinated Lien Revolver is equal to the higher of LIBOR and 0.75% plus a spread of 3.50% or 3.25% depending on the total net leverage ratio then in effect. The Subordinated Lien Revolver requires us to maintain a secured net leverage ratio of 4 to 1 . Pursuant to the terms of the Term Loan Facility, such secured net leverage maintenance covenant will automatically apply to the Term Loan Facility as well for so long as the Subordinated Lien Revolver is in effect. In June 2015, we entered into a Refinancing Amendment Agreement with respect to our Term Loan Facility. The Amendment increases the principal amount of the Term Loan Facility from $1.7 billion to $1.8 billion and extends the final maturity from December 17, 2017 to June 2, 2022; provided that, in the event that any series of our senior unsecured notes remain outstanding 92 days prior to its maturity date, then the Term Loan Facility will mature on such date, subject to limited exceptions. The loans under the Term Loan Facility accrue interest at the higher of LIBOR and 0.75% plus a 3.25% spread. The Amendment eliminates the senior secured net leverage covenant that requires us to maintain a minimum senior secured net leverage ratio. In addition, certain negative covenants were amended to increase the Company’s operational flexibility, including increasing flexibility to enter into working capital management programs and incur other debt. In October 2014, we amended and extended our ABL Revolver by entering into a $1.2 billion , five -year, senior secured ABL Revolver bearing an interest rate of LIBOR plus a spread of 1.50% to 2.00% plus a prime spread of 0.50% to 1.00% based on excess availability. The ABL Revolver has a provision that allows the facility to be increased by an additional $500 million . The ABL Revolver has various customary covenants including maintaining a minimum fixed charge coverage ratio of 1.25 to 1 if excess availability is less than the greater of (1) $110 million and (2) 12.5% of the lesser of (a) the maximum size of the ABL Revolver and (b) the borrowing base. The fixed charge coverage ratio will be equal to the ratio of (1) (a) ABL Revolver defined Earnings Before Interest, Taxes, Depreciation and Amortization less (b) maintenance capital expenditures less (c) cash taxes; to (2) (a) interest expense plus (b) scheduled principal payments plus (c) dividends to the Company's direct holding company to pay certain taxes, operating expenses and management fees and repurchases of equity interests from employees, officers and directors. The ABL Revolver matures on October 6, 2019; provided that, in the event that any of the Notes, the Term Loan Facility, or certain other indebtedness are outstanding (and not refinanced with a maturity date later than April 6, 2020) 90 days prior to their respective maturity dates, then the ABL Revolver will mature 90 days prior to the maturity date for the Notes, the Term Loan Facility or such other indebtedness, as applicable; unless excess availability under the ABL Revolver is at least (i) 25% of the lesser of (x) the total ABL Revolver commitment and (y) the then applicable borrowing base and (ii) 20% of the lesser of (x) the total ABL Revolver commitment and (y) the then applicable borrowing base, and a minimum fixed charged ratio test of at least 1.25 to 1 is met. The senior secured credit facilities contain various affirmative covenants, including covenants with respect to our financial statements, litigation and other reporting requirements, insurance, payment of taxes, employee benefits and (subject to certain limitations) causing new subsidiaries to pledge collateral and guarantee our obligations. The senior secured credit facilities also include various customary negative covenants and events of default, including limitations on our ability to (1) make certain restricted payments, (2) incur additional indebtedness, (3) sell certain assets, (4) enter into sale and leaseback transactions, (5) make investments, loans and advances, (6) pay dividends or returns of capital and distributions beyond certain amounts, (7) engage in mergers, amalgamations or consolidations, (8) engage in certain transactions with affiliates, and (9) prepay certain indebtedness. Substantially all of our assets are pledged as collateral under the senior secured credit facilities. As of June 30, 2015 , we were in compliance with the covenants in the Term Loan Facility, ABL Revolver and Subordinated Lien Revolver. Short-Term Borrowings As of June 30, 2015 , our short-term borrowings were $1,021 million , consisting of $788 million of loans under our ABL Revolver, $153 million in Novelis Brazil loans, $51 million (KRW 58 billion ) in Novelis Korea loans, $18 million (CNY 110 million ) in Novelis China loans, $10 million (VND 228 billion ) in Novelis Vietnam loans and $1 million of other short-term borrowings. As of June 30, 2015 , $6 million of the ABL Revolver was utilized for letters of credit, and we had $271 million in remaining availability under the ABL Revolver. As of June 30, 2015 , the entire $200 million under the Subordinated Lien Revolver was available. Novelis Korea has entered into various short-term facilities, including revolving loan facilities and committed credit lines. As of June 30, 2015 , we had $210 million (KRW 236 billion ) in remaining availability under these facilities. In fiscal year 2016, Novelis Middle East and Africa entered into various short-term facilities, including revolving facility agreements. As of June 30, 2015 , we had $20 million in remaining availability under these facilities. In fiscal year 2015, Novelis China entered into a committed facility. As of June 30, 2015 , we had $7 million (CNY 41 million ) in remaining availability under this facility. Senior Notes On December 17, 2010, we issued $1.1 billion in aggregate principal amount of 8.375% Senior Notes Due 2017 (the 2017 Notes) and $1.4 billion in aggregate principal amount of 8.75% Senior Notes Due 2020 (the 2020 Notes, and together with the 2017 Notes, the Notes). The Notes contain customary covenants and events of default that will limit our ability and, in certain instances, the ability of certain of our subsidiaries to (1) incur additional debt and provide additional guarantees, (2) pay dividends or return capital beyond certain amounts and make other restricted payments, (3) create or permit certain liens, (4) make certain asset sales, (5) use the proceeds from the sales of assets and subsidiary stock, (6) create or permit restrictions on the ability of certain of the Company's subsidiaries to pay dividends or make other distributions to the Company, (7) engage in certain transactions with affiliates, (8) enter into sale and leaseback transactions, (9) designate subsidiaries as unrestricted subsidiaries and (10) consolidate, merge or transfer all or substantially all of our assets and the assets of certain of our subsidiaries. During any future period in which either Standard & Poor's Ratings Group, Inc. or Moody's Investors Service, Inc. have assigned an investment grade credit rating to the Notes and no default or event of default under the indenture has occurred and is continuing, most of the covenants will be suspended. The Notes include a cross-acceleration event of default triggered if (1) any other indebtedness with an aggregate principal amount of more than $100 million is (1) accelerated prior to its maturity or (2) not repaid at its maturity. As of June 30, 2015 , we were in compliance with the covenants in the Notes. The Notes also contain customary call protection provisions for our bond holders that extend through December 2016 for the 2017 Notes and through December 2018 for the 2020 Notes. Korean Bank Loans As of June 30, 2015 , Novelis Korea had $77 million of outstanding long-term loans with various banks due within one year. All loans have variable interest rates with base rates tied to Korea's 91-day CD rate plus an applicable spread ranging from 0.80% to 1.58% . Brazil BNDES Loans Novelis Brazil entered into loan agreements with Brazil’s National Bank for Economic and Social Development (the BNDES long-term loans) related to the plant expansion in Pindamonhangaba, Brazil (Pinda). As of June 30, 2015 there are $2 million of BNDES long-term loans due within one year. Other Long-term debt In December 2004, we entered into a 15 -year capital lease obligation with Alcan for assets in Sierre, Switzerland, which has an interest rate of 7.5% and fixed quarterly payments of CHF 1.7 million , (USD $1.8 million ). During fiscal 2013 and 2014, Novelis Inc. entered into various capital lease arrangements to upgrade and expand our information technology infrastructure. As of June 30, 2015 , we had $4 million of other debt, including certain capital lease obligations, with due dates through December 2020. Interest Rate Swaps We use interest rate swaps to manage our exposure to changes in benchmark interest rates which impact our variable-rate debt. See Note 11- Financial Instruments and Commodity Contracts for further information about these interest rate swaps.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION The Company's board of directors has authorized long term incentive plans (LTIPs), under which Hindalco stock appreciation rights (Hindalco SARs), Novelis stock appreciation rights (Novelis SARs), and phantom restricted stock units (RSUs) are granted to certain executive officers and key employees. The Hindalco SARs and Novelis SARs vest at the rate of 25% per year, subject to the achievement of an annual performance target, and expire 7 years from their original grant date. The performance criterion for vesting of both the Hindalco SARs and Novelis SARs is based on the actual overall Novelis operating EBITDA compared to the target established and approved each fiscal year. The RSUs vest in full three years from the grant date, subject to continued employment with the Company, but are not subject to performance criteria. During the three months ended June 30, 2015 , we granted 1,780,370 RSUs, 6,203,196 Hindalco SARs, and 596,169 Novelis SARs. Total compensation (benefit) expense related to these plans for the respective periods is $(7) million and $4 million for the three months ended June 30, 2015, and 2014, respectively. These amounts are included in “Selling, general and administrative expenses” or "Cost of goods sold (exclusive of depreciation and amortization)" in our condensed consolidated statements of operations. As the performance criteria for fiscal years 2017, 2018 and 2019 have not yet been established, measurement periods for Hindalco SARs and Novelis SARs relating to those periods have not yet commenced. As a result, only compensation expense for vested and current year Hindalco SARs and Novelis SARs has been recorded. The cash payments made to settle SAR liabilities were $1 million and $5 million in the three months ended June 30, 2015 and 2014, respectively. Total cash payments made to settle Hindalco RSUs were $5 million and $2 million in the three months ended June 30, 2015 and 2014, respectively. Unrecognized compensation expense related to the non-vested Hindalco SARs (assuming all future performance criteria are met) was $8 million , which is expected to be recognized over a weighted average period of 2.1 years . Unrecognized compensation expense related to the non-vested Novelis SARs (assuming all future performance criteria are met) was $16 million , which is expected to be recognized over a weighted average period of 2.3 years . Unrecognized compensation expense related to the RSUs was $6 million , which will be recognized over the remaining weighted average vesting period of 1.9 years .

Postretirement Benefit Plans

Postretirement Benefit Plans	3 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
POSTRETIREMENT BENEFIT PLANS	POSTRETIREMENT BENEFIT PLANS Our pension obligations relate to: (1) funded defined benefit pension plans in the U.S., Canada, Switzerland and the U.K.; (2) unfunded defined benefit pension plans in Germany; (3) unfunded lump sum indemnities payable upon retirement to employees in France, Malaysia and Italy; and (4) partially funded lump sum indemnities in South Korea. Our other postretirement obligations (Other Benefits, as shown in certain tables below) include unfunded health care and life insurance benefits provided to retired employees in the U.S., Canada and Brazil. Components of net periodic benefit cost (credit) for all of our significant postretirement benefit plans are shown in the tables below (in millions). Pension Benefit Plans Other Benefit Plans Three Months Ended June 30, Three Months Ended June 30, 2015 2014 2015 2014 Service cost $ 12 $ 11 $ 1 $ 1 Interest cost 15 17 1 1 Expected return on assets (17 ) (17 ) — — Amortization — losses, net 9 6 1 2 Amortization — prior service credit, net (1 ) (1 ) (7 ) (10 ) Termination benefits / curtailments — 1 — (2 ) Net periodic benefit cost (credit) $ 18 $ 17 $ (4 ) $ (8 ) The average expected long-term rate of return on plan assets is 5.6% in fiscal 2016 . Employer Contributions to Plans For pension plans, our policy is to fund an amount required to provide for contractual benefits attributed to service to date, and amortize unfunded actuarial liabilities typically over periods of 15 years or less. We also participate in savings plans in Canada and the U.S., as well as defined contribution pension plans in the U.S., U.K., Canada, Germany, Italy, Switzerland, Malaysia and Brazil. We contributed the following amounts to all plans (in millions). Three Months Ended June 30, 2015 2014 Funded pension plans $ 3 $ 4 Unfunded pension plans 2 1 Savings and defined contribution pension plans 7 6 Total contributions $ 12 $ 11 During the remainder of fiscal 2016 , we expect to contribute an additional $24 million to our funded pension plans, $7 million to our unfunded pension plans and $15 million to our savings and defined contribution plans.

Currency (Gains) Losses

Currency (Gains) Losses	3 Months Ended
	Jun. 30, 2015
Foreign Currency [Abstract]
CURRENCY (GAINS) LOSSES	CURRENCY (GAINS) LOSSES The following currency (gains) losses are included in “Other (income) expense, net” in the accompanying condensed consolidated statements of operations (in millions). Three Months Ended June 30, 2015 2014 (Gain) loss on remeasurement of monetary assets and liabilities, net $ (5 ) $ 11 Loss (gain) recognized on balance sheet remeasurement currency exchange contracts, net 1 (11 ) Currency gains, net $ (4 ) $ — The following currency gains (losses) are included in “Accumulated other comprehensive loss” (“AOCI”) and “Noncontrolling interests” in the accompanying condensed consolidated balance sheets (in millions). Three Months Ended June 30, 2015 Year Ended March 31, 2015 Cumulative currency translation adjustment — beginning of period $ (214 ) $ 90 Effect of changes in exchange rates 42 (304 ) Cumulative currency translation adjustment — end of period $ (172 ) $ (214 )

Financial Instruments and Commo

Financial Instruments and Commodity Contracts	3 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL INSTRUMENTS AND COMMODITY CONTRACTS	FINANCIAL INSTRUMENTS AND COMMODITY CONTRACTS The following tables summarize the gross fair values of our financial instruments and commodity contracts as of June 30, 2015 and March 31, 2015 (in millions). June 30, 2015 Assets Liabilities Net Fair Value Current Noncurrent (A) Current Noncurrent (A) Assets / (Liabilities) Derivatives designated as hedging instruments: Cash flow hedges Aluminum contracts $ 29 $ — $ — $ — $ 29 Currency exchange contracts 1 — (29 ) (10 ) (38 ) Energy contracts — — (5 ) (1 ) (6 ) Net investment hedges Currency exchange contracts 3 — — — 3 Total derivatives designated as hedging instruments $ 33 $ — $ (34 ) $ (11 ) $ (12 ) Derivatives not designated as hedging instruments Aluminum contracts 79 — (41 ) — 38 Currency exchange contracts 14 — (39 ) — (25 ) Energy contracts 2 — (14 ) (5 ) (17 ) Total derivatives not designated as hedging instruments 95 — (94 ) (5 ) (4 ) Total derivative fair value $ 128 $ — $ (128 ) $ (16 ) $ (16 ) March 31, 2015 Assets Liabilities Net Fair Value Current Noncurrent (A) Current Noncurrent(A) Assets / (Liabilities) Derivatives designated as hedging instruments: Cash flow hedges Aluminum contracts $ 15 $ — $ (5 ) $ — $ 10 Currency exchange contracts 4 — (42 ) (15 ) (53 ) Energy contracts — — (6 ) (2 ) (8 ) Interest rate swaps — — (1 ) — (1 ) Net investment hedges Currency exchange contracts 5 — — — 5 Total derivatives designated as hedging instruments $ 24 $ — $ (54 ) $ (17 ) $ (47 ) Derivatives not designated as hedging instruments: Aluminum contracts 24 — (26 ) — (2 ) Currency exchange contracts 26 — (54 ) — (28 ) Energy contracts 3 — (15 ) (7 ) (19 ) Total derivatives not designated as hedging instruments 53 — (95 ) (7 ) (49 ) Total derivative fair value $ 77 $ — $ (149 ) $ (24 ) $ (96 ) (A) The noncurrent portions of derivative assets and liabilities are included in “Other long-term assets-third parties” and in “Other long-term liabilities”, respectively, in the accompanying condensed consolidated balance sheets. Aluminum We use derivative instruments to preserve our conversion margins and manage the timing differences associated with metal price lag. We use over-the-counter derivatives indexed to the London Metals Exchange (LME) and from time to time we also use over-the-counter derivatives indexed to the Midwest transaction premium (collectively referred to as our "aluminum derivative forward contracts") to reduce our exposure to fluctuating metal prices associated with the period of time between the pricing of our purchases of inventory and the pricing of the sale of that inventory to our customers, which is known as "metal price lag." We also purchase forward LME aluminum contracts simultaneously with our sales contracts with customers that contain fixed metal prices. These LME aluminum forward contracts directly hedge the economic risk of future metal price fluctuations to better match the selling price of the metal with the purchase price of the metal. The volatility in local market premiums also results in metal price lag, although we do not have derivatives contracts associated with local market premiums as these are not prevalent in the market. Price risk exposure arises from commitments to sell aluminum in future periods at fixed prices. We identify and designate certain LME aluminum forward contracts as fair value hedges of the metal price risk associated with fixed price sales commitments that qualify as firm commitments. Such exposures do not extend beyond two years in length. We had 7 kt and 2 kt of outstanding aluminum forward purchase contracts designated as fair value hedges as of June 30, 2015 and March 31, 2015 , respectively. One kilotonne (kt) is 1,000 metric tonnes. The following table summarizes the amount of gain (loss) recognized on fair value hedges of metal price risk (in millions). Amount of Gain (Loss) Recognized on Changes in Fair Value Three Months Ended June 30, 2015 2014 Fair Value Hedges of Metal Price Risk Derivative Contracts $ — $ 1 Designated Hedged Items — (1 ) Net Ineffectiveness (A) $ — $ — (A) Effective portion is recorded in "Net sales" and net ineffectiveness in "Other (income) expense, net." There was no amount excluded from the assessment of hedge effectiveness related to Fair Value Hedges. Price risk arises due to fluctuating aluminum prices between the time the sales order is committed and the time the order is shipped. We identify and designate certain LME aluminum forward purchase contracts as cash flow hedges of the metal price risk associated with our future metal purchases that vary based on changes in the price of aluminum. Such exposures do not extend beyond two years in length. We had 4 kt and 1 kt of outstanding aluminum forward purchase contracts designated as cash flow hedges as of June 30, 2015 and March 31, 2015 , respectively. Price risk exposure arises due to the timing lag between the LME based pricing of raw material aluminum purchases and the LME based pricing of finished product sales. We identify and designate certain LME aluminum forward sales contracts as cash flow hedges of the metal price risk associated with our future metal sales that vary based on changes in the price of aluminum. Such exposures do not extend beyond one year in length. We had 235 kt and 285 kt of outstanding aluminum forward sales contracts designated as cash flow hedges as of June 30, 2015 and March 31, 2015 , respectively. The remaining balance of our aluminum derivative contracts are not designated as accounting hedges. As of June 30, 2015 and March 31, 2015 , we had 188 kt and 36 kt, respectively, of outstanding aluminum sales contracts not designated as hedges. The increase in the level of undesignated aluminum derivatives was driven by recent volatility in the local market premium component of our net selling prices. The average duration of undesignated contracts is less than six months . The following table summarizes our notional amount (in kt). June 30, March 31, Hedge Type Purchase (Sale) Cash flow purchases 4 1 Cash flow sales (235 ) (285 ) Fair value 7 2 Not designated (188 ) (36 ) Total, net (412 ) (318 ) Foreign Currency We use foreign exchange forward contracts, cross-currency swaps and options to manage our exposure to changes in exchange rates. These exposures arise from recorded assets and liabilities, firm commitments and forecasted cash flows denominated in currencies other than the functional currency of certain operations. We use foreign currency contracts to hedge expected future foreign currency transactions, which include capital expenditures. These contracts cover the same periods as known or expected exposures. We had total notional amounts of $459 million and $590 million in outstanding foreign currency forwards designated as cash flow hedges as of June 30, 2015 and March 31, 2015 , respectively. We use foreign currency contracts to hedge our foreign currency exposure to our net investment in foreign subsidiaries. We had $26 million and $28 million of outstanding foreign currency forwards designated as net investment hedges as of June 30, 2015 and March 31, 2015 , respectively. As of June 30, 2015 and March 31, 2015 , we had outstanding currency exchange contracts with a total notional amount of $752 million and $868 million , respectively, which were not designated as hedges. Contracts representing the majority of this notional amount will mature during the second quarter of fiscal 2016 . Energy We own an interest in an electricity swap which we formerly designated as a cash flow hedge of our exposure to fluctuating electricity prices. As of March 31, 2011, due to significant credit deterioration of our counterparty, we discontinued hedge accounting for this electricity swap. Less than 1 million of notional megawatt hours remained outstanding as of June 30, 2015 , and the fair value of this swap was a liability of $15 million as of June 30, 2015 . As of March 31, 2015 , the fair value of this electricity swap was a liability of $16 million . We use natural gas forward purchase contracts to manage our exposure to fluctuating energy prices in North America. We had 7 million MMBTUs designated as cash flow hedges as of June 30, 2015 , and the fair value was a liability of $6 million . There were 7 million MMBTUs of natural gas forward purchase contracts designated as cash flow hedges as of March 31, 2015 and the fair value was a liability of $8 million . As of June 30, 2015 and March 31, 2015 , we had 2 million of MMBTUs of natural gas forward purchase contracts that were not designated as hedges. The fair value as of June 30, 2015 and March 31, 2015 was a liability of $2 million and a liability of $3 million , respectively, for the forward purchase contracts not designated as hedges. The average duration of undesignated contracts is approximately one year in length. One MMBTU is the equivalent of one decatherm, or one million British Thermal Units. Interest Rate As of June 30, 2015 , we swapped $77 million (KRW 86 billion ) floating rate loans to a weighted average fixed rate of 3.69% . All swaps expire concurrent with the maturity of the related loans. As of June 30, 2015 and March 31, 2015 , $77 million ( KRW 86 billion ) and $78 million ( KRW 86 billion ), respectively, were designated as cash flow hedges. Gain (Loss) Recognition The following table summarizes the gains (losses) associated with the change in fair value of derivative instruments not designated as hedges and the ineffectiveness of designated derivatives recognized in “Other (income) expense, net” (in millions). Gains (losses) recognized in other line items in the condensed consolidated statement of operations are separately disclosed within this footnote. Three Months Ended June 30, 2015 2014 Derivative Instruments Not Designated as Hedges Aluminum contracts (C) $ 31 $ (7 ) Currency exchange contracts 1 12 Energy contracts (A) — 2 Gain recognized in "Other (income) expense, net" 32 7 Derivative Instruments Designated as Hedges (Loss) gain recognized in "Other (income) expense, net" (B) (6 ) 2 Total gain recognized in "Other (income) expense, net" $ 26 $ 9 Balance sheet remeasurement currency exchange contract (losses) gains $ (1 ) $ 11 Realized losses, net (8 ) (3 ) Unrealized gains on other derivative instruments, net (C) 35 1 Total gain recognized in "Other (income) expense, net" $ 26 $ 9 (A) Includes amounts related to de-designated electricity swap and natural gas swaps not designated as hedges. (B) Amount includes: forward market premium/discount excluded from hedging relationship and ineffectiveness on designated aluminum and foreign currency capital expenditure contracts; releases to income from AOCI on balance sheet remeasurement contracts; and ineffectiveness of fair value hedges involving aluminum derivatives. (C) During the three months ended June 30, 2015, the level of undesignated aluminum derivatives was higher due to the recent volatility in the local market premium component of our net selling prices. The following table summarizes the impact on AOCI and earnings of derivative instruments designated as cash flow and net investment hedges (in millions). Within the next twelve months, we expect to reclassify $3 million of losses from AOCI to earnings, before taxes. Amount of Gain (Loss) Recognized in OCI (Effective Portion) Amount of Gain (Loss) (Ineffective and Three Months Ended June 30, Three Months Ended June 30, 2015 2014 2015 2014 Cash flow hedging derivatives Aluminum contracts $ 37 $ (21 ) $ (6 ) $ 3 Currency exchange contracts 8 32 — (1 ) Energy contracts — — — — Interest Rate Swaps — — — — Total cash flow hedging derivatives $ 45 $ 11 $ (6 ) $ 2 Net investment derivatives Currency exchange contracts (1 ) — — — Total $ 44 $ 11 $ (6 ) $ 2 Gain (Loss) Reclassification Amount of Gain (Loss) Reclassified from AOCI into Income/(Expense) (Effective Portion) Three Months Ended June 30, Location of Gain (Loss) Reclassified from AOCI into Earnings Cash flow hedging derivatives 2015 2014 Energy contracts (A) $ (1 ) $ (1 ) Other (income) expense, net Energy contracts (C) (2 ) 1 Cost of goods sold (B) Aluminum contracts 13 (6 ) Cost of goods sold (B) Currency exchange contracts (6 ) 1 Cost of goods sold (B) Currency exchange contracts 3 4 Net sales Currency exchange contracts — 1 Other (income) expense, net Total $ 7 $ — Income before taxes (4 ) — Income tax benefit (provision) $ 3 $ — Net income (A) Includes amounts related to de-designated electricity swap. AOCI related to this swap is amortized to income over the remaining term of the hedged item. (B) "Cost of goods sold" is exclusive of depreciation and amortization. (C) Includes amounts related to natural gas swaps.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Jun. 30, 2015
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE LOSS The following tables summarize the change in the components of accumulated other comprehensive loss net of tax and "Noncontrolling interests", for the periods presented (in millions). Currency Translation (A) Cash Flow Hedges (B) Total Balance as of March 31, 2015 $ (213 ) $ (63 ) $ (285 ) $ (561 ) Other comprehensive income (loss) before reclassifications 44 33 (8 ) 69 Amounts reclassified from AOCI — (3 ) 1 (2 ) Net current-period other comprehensive income (loss) 44 30 (7 ) 67 Balance as of June 30, 2015 $ (169 ) $ (33 ) $ (292 ) $ (494 ) Currency Translation (A) Cash Flow Hedges (B) Total Balance as of March 31, 2014 $ 89 $ (20 ) $ (160 ) $ (91 ) Other comprehensive income (loss) before reclassifications 26 13 (5 ) 34 Amounts reclassified from AOCI — — (3 ) (3 ) Net current-period other comprehensive income (loss) 26 13 (8 ) 31 Balance as of June 30, 2014 $ 115 $ (7 ) $ (168 ) $ (60 ) (A) For additional information on our cash flow hedges see Note 11 - Financial Instruments and Commodity Contracts. (B) For additional information on our postretirement benefit plans see Note 9 - Postretirement Benefit Plans.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS We record certain assets and liabilities, primarily derivative instruments, on our condensed consolidated balance sheets at fair value. We also disclose the fair values of certain financial instruments, including debt and loans receivable, which are not recorded at fair value. Our objective in measuring fair value is to estimate an exit price in an orderly transaction between market participants on the measurement date. We consider factors such as liquidity, bid/offer spreads and nonperformance risk, including our own nonperformance risk, in measuring fair value. We use observable market inputs wherever possible. To the extent observable market inputs are not available, our fair value measurements will reflect the assumptions we used. We grade the level of the inputs and assumptions used according to a three-tier hierarchy: Level 1 — Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities we have the ability to access at the measurement date. Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 — Unobservable inputs for which there is little or no market data, which require us to develop our own assumptions based on the best information available as what market participants would use in pricing the asset or liability. The following section describes the valuation methodologies we use to measure our various financial instruments at fair value, including an indication of the level in the fair value hierarchy in which each instrument is generally classified. Derivative Contracts For certain derivative contracts with fair values based upon trades in liquid markets, such as aluminum, foreign exchange and natural gas forward contracts and options, valuation model inputs can generally be verified and valuation techniques do not involve significant judgment. The fair values of such financial instruments are generally classified within Level 2 of the fair value hierarchy. The majority of our derivative contracts are valued using industry-standard models with observable market inputs as their basis, such as time value, forward interest rates, volatility factors, and current (spot) and forward market prices. We generally classify these instruments within Level 2 of the valuation hierarchy. Such derivatives include interest rate swaps, cross-currency swaps, foreign currency contracts, aluminum derivative contracts and natural gas forward contracts. We classify derivative contracts that are valued based on models with significant unobservable market inputs as Level 3 of the valuation hierarchy. Our electricity swap, which is our only Level 3 derivative contract, represents an agreement to buy electricity at a fixed price at our Oswego, New York facility. Forward prices are not observable for this market, so we must make certain assumptions based on available information we believe to be relevant to market participants. We use observable forward prices for a geographically nearby market and adjust for 1) historical spreads between the cash prices of the two markets, and 2) historical spreads between retail and wholesale prices. The average forward price at June 30, 2015 , estimated using the method described above, was $48 per megawatt hour, which represented a $4 premium over forward prices in the nearby observable market. The actual rate from the most recent swap settlement was approximately $34 per megawatt hour. Each $1 per megawatt hour decline in price decreases the valuation of the electricity swap by less than $1 million . For Level 2 and 3 of the fair value hierarchy, where appropriate, valuations are adjusted for various factors such as liquidity, bid/offer spreads and credit considerations (nonperformance risk). We regularly monitor these factors along with significant market inputs and assumptions used in our fair value measurements and evaluate the level of the valuation input according to the fair value hierarchy. This may result in a transfer between levels in the hierarchy from period to period. As of June 30, 2015 and March 31, 2015 , we did not have any Level 1 derivative contracts. No amounts were transferred between levels in the fair value hierarchy. All of the Company's derivative instruments are carried at fair value in the statements of financial position prior to considering master netting agreements. The table below also discloses the net fair value of the derivative instruments after considering the impact of master netting agreements. The following table presents our derivative assets and liabilities which were measured and recognized at fair value on a recurring basis classified under the appropriate level of the fair value hierarchy as of June 30, 2015 and March 31, 2015 (in millions). June 30, 2015 March 31, 2015 Assets Liabilities Assets Liabilities Level 2 instruments Aluminum contracts $ 108 $ (41 ) $ 39 $ (31 ) Currency exchange contracts 18 (78 ) 35 (111 ) Energy contracts 2 (10 ) 3 (14 ) Interest rate swaps — — — (1 ) Total level 2 instruments 128 (129 ) 77 (157 ) Level 3 instruments Energy contracts — (15 ) — (16 ) Total level 3 instruments — (15 ) — (16 ) Total gross $ 128 $ (144 ) $ 77 $ (173 ) Netting adjustment (A) (40 ) 40 (28 ) 28 Total net $ 88 $ (104 ) $ 49 $ (145 ) (A) Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions with the same counterparties. We recognized unrealized losses of less than $1 million for the three months ended June 30, 2015 related to Level 3 financial instruments that were still held as of June 30, 2015 . These unrealized losses were included in “Other (income) expense, net.” The following table presents a reconciliation of fair value activity for Level 3 derivative contracts (in millions). Level 3 – Derivative Instruments (A) Balance as of March 31, 2015 $ (16 ) Unrealized/realized loss included in earnings (B) 1 Settlements — Balance as of June 30, 2015 $ (15 ) (A) Represents net derivative liabilities. (B) Included in “Other (income) expense, net.” Financial Instruments Not Recorded at Fair Value The table below presents the estimated fair value of certain financial instruments not recorded at fair value on a recurring basis (in millions). The table excludes short-term financial assets and liabilities for which we believe carrying value approximates fair value. The fair value of long-term receivables is based on anticipated cash flows, which approximates carrying value and is classified as Level 2. We value long-term debt using Level 2 inputs. Valuations are based on either market and/or broker ask prices when available or on a standard credit adjusted discounted cash flow model using market observable inputs. June 30, 2015 March 31, 2015 Carrying Value Fair Value Carrying Value Fair Value Assets Long-term receivables from related parties $ 17 $ 15 $ 15 $ 15 Liabilities Total debt — third parties (excluding short-term borrowings) $ 4,541 $ 4,519 $ 4,457 $ 4,659

Other Expense (Income), Net

Other Expense (Income), Net	3 Months Ended
	Jun. 30, 2015
Other Income and Expenses [Abstract]
OTHER EXPENSE (INCOME), NET	OTHER (INCOME) EXPENSE, NET “Other (income) expense, net” is comprised of the following (in millions). Three Months Ended June 30, 2015 2014 Foreign currency remeasurement gains, net (A) $ (4 ) $ — Gain on change in fair value of other unrealized derivative instruments, net (B) (35 ) (1 ) Loss on change in fair value of other realized derivative instruments, net (B) 8 3 Loss on sale of assets, net 1 1 Loss on Brazilian tax litigation, net (C) 1 2 Interest income (2 ) (1 ) Gain on business interruption insurance recovery (D) (5 ) — Other, net 6 1 Other (income) expense, net $ (30 ) $ 5 (A) Includes “(Gain) loss recognized on balance sheet remeasurement currency exchange contracts, net.” (B) See Note 11 - Financial Instruments and Commodity Contracts for further details. (C) See Note 16 – Commitments and Contingencies – Brazil Tax and Legal Matters for further details. (D) We experienced an outage at the hotmill in the Logan facility in North America due to an unexpected failure of a motor, which resulted in lost shipments and profits during the fourth quarter of fiscal 2015. A repaired motor was installed and operations at the hotmill resumed, within approximately three weeks of the outage. We recognized gains of $5 million and $13 million during the first quarter of fiscal 2016 and fourth quarter of fiscal 2015, respectively, as partial settlements of the related business interruption recovery claim.

Income Taxes

Income Taxes	3 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	OME TAXES A reconciliation of the Canadian statutory tax rate to our effective tax rate was as follows (in millions, except percentages). Three Months Ended June 30, 2015 2014 Pre-tax (loss) income before equity in net loss of non-consolidated affiliates and noncontrolling interests $ (44 ) $ 61 Canadian statutory tax rate 25 % 25 % (Benefit) provision at the Canadian statutory rate $ (11 ) $ 15 Increase (decrease) for taxes on income (loss) resulting from: Exchange translation items 8 4 Exchange remeasurement of deferred income taxes 2 4 Change in valuation allowances 21 11 Income items not subject to tax — (1 ) Dividends not subject to tax (5 ) (10 ) Tax rate differences on foreign earnings 1 1 Other, net (1 ) — Income tax provision $ 15 $ 24 Effective tax rate (33 )% 39 % Exchange translation items relate to U.S. dollar denominated debt and other monetary items which will ultimately be taxed in local currency. The exchange remeasurement of deferred income taxes relates to deferred tax assets and liabilities in Brazil which get remeasured for currency fluctuations against the U.S. dollar. The change in valuation allowances primarily relates to tax losses in certain jurisdictions where we believe it is more likely than not that we will not be able to utilize those losses. As of June 30, 2015 , we had a net deferred tax liability of $113 million . This amount included gross deferred tax assets of approximately $1.1 billion and a valuation allowance of $551 million . It is reasonably possible that our estimates of future taxable income may change within the next 12 months, resulting in a change to the valuation allowance in one or more jurisdictions. Tax authorities continue to examine certain of our tax filings for fiscal years 2005 through 2013 . As a result of audit settlements, judicial decisions, the filing of amended tax returns or the expiration of statutes of limitations, our reserves for unrecognized tax benefits, as well as reserves for interest and penalties, may decrease in the next 12 months by an amount up to approximately $14 million .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES We are party to, and may in the future be involved in, or subject to, disputes, claims and proceedings arising in the ordinary course of our business, including some we assert against others, such as environmental, health and safety, product liability, employee, tax, personal injury and other matters. We have established a liability with respect to contingencies for which a loss is probable and estimable. While the ultimate resolution of and liability and costs related to these matters cannot be determined with certainty, we do not believe any of these pending actions, individually or in the aggregate, will materially impair our operations or materially affect our financial condition or liquidity. For certain matters in which the Company is involved for which a loss is reasonably possible, we are unable to estimate a loss. For certain other matters for which a loss is reasonably possible and the loss is estimable, we have estimated the aggregated range of loss as $0 to $60 million . This estimated aggregate range of reasonably possible losses is based upon currently available information. The Company’s estimates involve significant judgment, and therefore, the estimate will change from time to time and actual losses may differ from the current estimate. We review the status of, and estimated liability related to, pending claims and civil actions on a quarterly basis. The evaluation model includes all asserted and unasserted claims that can be reasonably identified including claims relating to our responsibility for compliance with environmental, health and safety laws and regulations in the jurisdictions in which we operate or formerly operated. The estimated costs in respect of such reported liabilities are not offset by amounts related to insurance or indemnification arrangements unless otherwise noted. The following describes certain contingencies relating to our business, including those for which we assumed liability as a result of our spin-off from Alcan Inc. Environmental Matters We own and operate numerous manufacturing and other facilities in various countries around the world. Our operations are subject to environmental laws and regulations from various jurisdictions, which govern, among other things, air emissions, wastewater discharges, the handling, storage and disposal of hazardous substances and wastes, the remediation of contaminated sites, post-mining reclamation and restoration of natural resources, and employee health and safety. Future environmental regulations may impose stricter compliance requirements on the industries in which we operate. Additional equipment or process changes at some of our facilities may be needed to meet future requirements. The cost of meeting these requirements may be significant. Failure to comply with such laws and regulations could subject us to administrative, civil or criminal penalties, obligations to pay damages or other costs, and injunctions and other orders, including orders to cease operations. We are involved in proceedings under the U.S. Comprehensive Environmental Response, Compensation, and Liability Act, also known as CERCLA or Superfund, or analogous state provisions regarding liability arising from the usage, storage, treatment or disposal of hazardous substances and wastes at a number of sites in the United States, as well as similar proceedings under the laws and regulations of the other jurisdictions in which we have operations, including Brazil and certain countries in the European Union. Many of these jurisdictions have laws that impose joint and several liability, without regard to fault or the legality of the original conduct, for the costs of environmental remediation, natural resource damages, third party claims, and other expenses. In addition, we are, from time to time, subject to environmental reviews and investigations by relevant governmental authorities. We are also involved in claims and litigation filed on behalf of persons alleging exposure to substances and other hazards at our current and former facilities. We have established liabilities based on our estimates for the currently anticipated costs associated with these environmental matters. We estimated that the remaining undiscounted clean-up costs related to our environmental liabilities as of June 30, 2015 were approximately $23 million , of which $19 million was associated with restructuring actions and the remaining undiscounted clean-up costs were approximately $4 million . Additionally, $19 million of the environmental liability was included in “Other long-term liabilities,” with the remaining $4 million included in “Accrued expenses and other current liabilities” in our condensed consolidated balance sheet as of June 30, 2015 . As of March 31, 2015 , $18 million of the environmental liability was included in “Other long-term liabilities,” with the remaining $4 million included in “Accrued expenses and other current liabilities” in our condensed consolidated balance sheet. Management has reviewed the environmental matters, including those for which we assumed liability as a result of our spin-off from Alcan Inc. As a result of management's review of these items, management has determined that the currently anticipated costs associated with these environmental matters will not, individually or in the aggregate, materially impact our operations or materially adversely affect our financial condition, results of operations or liquidity. Brazil Tax and Legal Matters Under a federal tax dispute settlement program established by the Brazilian government, we have settled several disputes with Brazil’s tax authorities regarding various forms of manufacturing taxes and social security contributions. In most cases, we are paying the settlement amounts over a period of 180 months , although in some cases we are paying the settlement amounts over a shorter period. The assets and liabilities related to these settlements are presented in the table below (in millions). June 30, March 31, Cash deposits (A) $ 3 $ 3 Short-term settlement liability (B) $ 8 $ 7 Long-term settlement liability (B) 67 66 Total settlement liability $ 75 $ 73 Liability for other disputes and claims (C) $ 14 $ 12 (A) We have maintained these cash deposits as a result of legal proceedings with Brazil's tax authorities. These deposits, which are included in “Other long-term assets — third parties” in our accompanying condensed consolidated balance sheets, will be expended toward these legal proceedings. (B) The short-term and long-term settlement liabilities are included in "Accrued expenses and other current liabilities" and "Other long-term liabilities", respectively, in our accompanying condensed consolidated balance sheets. (C) In addition to the disputes we have settled under the federal tax dispute settlement program, we are involved in several other unresolved tax and other legal claims in Brazil. The related liabilities are included in "Other long-term liabilities" in our accompanying condensed consolidated balance sheets. The interest cost recorded on these settlement liabilities, partially offset by interest earned on the cash deposits is included in the table below (in millions). Three Months Ended June 30, 2015 2014 Loss on Brazilian tax litigation, net $ 1 $ 2 Additionally, we have included in the range of reasonably possible losses disclosed above, any unresolved tax disputes or other contingencies for which a loss is reasonably possible and estimable. Other Commitments As of June 30, 2015 and March 31, 2015 , we sold certain inventories to third parties and have agreed to repurchase the same or similar inventory back from the third parties at market prices subsequent to the balance sheet dates. Our estimated outstanding repurchase obligations for this inventory as of June 30, 2015 were $55 million and as of March 31, 2015 were approximately $206 million , based on market prices as of these dates. We sell and repurchase inventory with third parties in an attempt to better manage inventory levels and to better match the purchasing of inventory with the demand for our products. As of June 30, 2015 and March 31, 2015 , there was no liability related to these repurchase obligations on our accompanying condensed consolidated balance sheets.

Segment, Major Customer and Maj

Segment, Major Customer and Major Supplier Information	3 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
SEGMENT, MAJOR CUSTOMER AND MAJOR SUPPLIER INFORMATION	SEGMENT, MAJOR CUSTOMER AND MAJOR SUPPLIER INFORMATION Segment Information Due in part to the regional nature of supply and demand of aluminum rolled products and to best serve our customers, we manage our activities based on geographical areas and are organized under four operating segments: North America, Europe, Asia and South America. All of our segments manufacture aluminum sheet and light gauge products. The following is a description of our operating segments: North America. Headquartered in Atlanta, Georgia, this segment operates eight plants, including two fully dedicated recycling facilities and one facility with recycling operations, in two countries. Europe. Headquartered in Kusnacht, Switzerland, this segment operates ten plants, including two fully dedicated recycling facilities and two facilities with recycling operations, in four countries. Asia. Headquartered in Seoul, South Korea, this segment operates five plants, including three facilities with recycling operations, in four countries. South America. Headquartered in Sao Paulo, Brazil, this segment comprises power generation operations, and operates two plants, including a facility with recycling operations, in Brazil. Our remaining smelting operations facilities ceased operations in December 2014. The majority of our power generation operations were sold during the fourth quarter of fiscal 2015. Net sales and expenses are measured in accordance with the policies and procedures described in Note 1 — Business and Summary of Significant Accounting Policies. We measure the profitability and financial performance of our operating segments based on “Segment income.” “Segment income” provides a measure of our underlying segment results that is in line with our approach to risk management. We define “Segment income” as earnings before (a) “depreciation and amortization”; (b) “interest expense and amortization of debt issuance costs”; (c) “interest income”; (d) unrealized gains (losses) on change in fair value of derivative instruments, net, except for foreign currency remeasurement hedging activities, which are included in segment income; (e) impairment of goodwill; (f) gain or loss on extinguishment of debt; (g) noncontrolling interests' share; (h) adjustments to reconcile our proportional share of “Segment income” from non-consolidated affiliates to income as determined on the equity method of accounting; (i) “restructuring and impairment, net”; (j) gains or losses on disposals of property, plant and equipment and businesses, net; (k) other costs, net; (l) litigation settlement, net of insurance recoveries; (m) sale transaction fees; (n) provision or benefit for taxes on income (loss) and (o) cumulative effect of accounting change, net of tax. The tables below show selected segment financial information (in millions). The “Eliminations and Other” column in the table below includes eliminations and functions that are managed directly from our corporate office that have not been allocated to our operating segments, as well as the adjustments for proportional consolidation, and eliminations of intersegment “Net sales.” The financial information for our segments includes the results of our affiliates on a proportionately consolidated basis, which is consistent with the way we manage our business segments. In order to reconcile the financial information for the segments shown in the tables below to the relevant U.S. GAAP-based measures, we must adjust proportional consolidation of each line item. The “Eliminations and Other” in “Net sales – third party” includes the net sales attributable to our joint venture party, Tri-Arrows, for our Logan affiliate because we consolidate 100% of the Logan joint venture for U.S. GAAP, but we manage our Logan affiliate on a proportionately consolidated basis. See Note 5 - Consolidation and Note 6 - Investment in and Advances to Non-Consolidated Affiliates and Related Party Transactions for further information about these affiliates. Additionally, we eliminate intersegment sales and intersegment income for reporting on a consolidated basis. Selected Segment Financial Information June 30, 2015 North America Europe Asia South America Eliminations and Other Total Investment in and advances to non–consolidated affiliate $ — $ 464 $ — $ — $ — $ 464 Total assets $ 2,800 $ 3,158 $ 1,578 $ 1,559 $ 143 $ 9,238 March 31, 2015 North America Europe Asia South America Eliminations and Other Total Investment in and advances to non–consolidated affiliate $ — $ 447 $ — $ — $ — $ 447 Total assets $ 2,744 $ 2,952 $ 1,663 $ 1,588 $ 155 $ 9,102 Selected Operating Results Three Months Ended June 30, 2015 North America Europe Asia South America Eliminations and Other Total Net sales-third party $ 886 $ 815 $ 533 $ 353 $ 47 $ 2,634 Net sales-intersegment 2 65 33 38 (138 ) — Net sales $ 888 $ 880 $ 566 $ 391 $ (91 ) $ 2,634 Depreciation and amortization $ 35 $ 25 $ 16 $ 15 $ (4 ) $ 87 Income tax (benefit) provision $ (15 ) $ (6 ) $ 1 $ 17 $ 18 $ 15 Capital expenditures $ 52 $ 56 $ 10 $ 8 $ 3 $ 129 Selected Operating Results Three Months Ended June 30, 2014 North America Europe Asia South America Eliminations and Other Total Net sales-third party $ 815 $ 880 $ 529 $ 403 $ 53 $ 2,680 Net sales-intersegment 6 34 27 17 (84 ) — Net sales $ 821 $ 914 $ 556 $ 420 $ (31 ) $ 2,680 Depreciation and amortization $ 34 $ 25 $ 20 $ 17 $ (7 ) $ 89 Income tax (benefit) provision $ (9 ) $ 12 $ 3 $ 12 $ 6 $ 24 Capital expenditures $ 19 $ 89 $ 20 $ 17 $ (7 ) $ 138 The following table shows the reconciliation from segment income for each of our regions to “Net (loss) income attributable to our common shareholder” (in millions). Three Months Ended June 30, 2015 2014 North America $ 42 $ 64 Europe (9 ) 79 Asia 36 37 South America 59 55 Intersegment eliminations (1 ) — Depreciation and amortization (87 ) (89 ) Interest expense and amortization of debt issuance costs (80 ) (81 ) Adjustment to eliminate proportional consolidation (7 ) (8 ) Unrealized gains on change in fair value of derivative instruments, net 35 1 Realized gains (losses) on derivative instruments not included in segment income 1 (1 ) Gain on assets held for sale — 11 Loss on extinguishment of debt (13 ) — Restructuring and impairment, net (15 ) (6 ) Loss on sale of fixed assets (1 ) (1 ) Other costs, net (5 ) (2 ) (Loss) income before income taxes (45 ) 59 Income tax provision 15 24 Net (loss) income (60 ) 35 Net income attributable to noncontrolling interests — — Net (loss) income attributable to our common shareholder $ (60 ) $ 35 Information about Major Customers and Primary Supplier The table below shows our net sales to Rexam Plc (Rexam) and Affiliates of Ball Corporation (Ball), our two largest customers, as a percentage of total “Net sales.” Three Months Ended June 30, 2015 2014 Rexam (A) 18 % 18 % Ball Corporation (A) 10 % 11 % (A) In February of 2015, Ball Corporation made an offer to acquire Rexam. The combination is subject to regulatory approvals and other customary conditions to closing. Rio Tinto Alcan (RTA) is our primary supplier of metal inputs, including prime and sheet ingot. The table below shows our purchases from RTA as a percentage of our total combined metal purchases. Three Months Ended June 30, 2015 2014 Purchases from RTA as a percentage of total 14 % 15 %

Supplemental Information

Supplemental Information	3 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL INFORMATION	SUPPLEMENTAL INFORMATION Supplemental cash flow information is as follows (in millions). Three Months Ended June 30, 2015 2014 Supplemental disclosures of cash flow information: Interest paid $ 123 $ 127 Income taxes paid $ 10 $ 39 As of June 30, 2015 , we recorded $69 million of outstanding accounts payable and accrued liabilities related to capital expenditures for which the cash outflows will occur subsequent to June 30, 2015 .

Supplemental Guarantor Informat

Supplemental Guarantor Information	3 Months Ended
	Jun. 30, 2015
Supplemental Guarantor Information [Abstract]
SUPPLEMENTAL GUARANTOR INFORMATION	SUPPLEMENTAL GUARANTOR INFORMATION In connection with the issuance of Novelis Inc.'s (the Parent and Issuer) 2017 Notes and 2020 Notes, certain of our wholly-owned subsidiaries, which are 100% owned within the meaning of Rule 3-10(h)(1) of Regulation S-X, provided guarantees. These guarantees are full and unconditional as well as joint and several. The guarantor subsidiaries (the Guarantors) are comprised of the majority of our businesses in Canada, the U.S., the U.K., Brazil, Portugal and Switzerland, as well as certain businesses in Germany and France. The remaining subsidiaries (the Non-Guarantors) of the Parent are not guarantors of the Notes. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (in millions) Three Months Ended June 30, 2015 Parent Guarantors Non- Guarantors Eliminations Consolidated Net sales $ 166 $ 2,291 $ 633 $ (456 ) $ 2,634 Cost of goods sold (exclusive of depreciation and amortization) 177 2,099 579 (455 ) 2,400 Selling, general and administrative expenses (7 ) 87 20 — 100 Depreciation and amortization 5 65 17 — 87 Research and development expenses — 13 — — 13 Interest expense and amortization of debt issuance costs 79 17 2 (18 ) 80 Loss on extinguishment of debt 13 — — — 13 Restructuring and impairment, net 9 5 1 — 15 Equity in net loss of non-consolidated affiliates — 1 — — 1 Equity in net income of consolidated subsidiaries (21 ) (6 ) — 27 — Other (income) expense, net (30 ) (25 ) 7 18 (30 ) 225 2,256 626 (428 ) 2,679 (Loss) income before income taxes (59 ) 35 7 (28 ) (45 ) Income tax provision 1 13 1 — 15 Net (loss) income (60 ) 22 6 (28 ) (60 ) Net income attributable to noncontrolling interests — — — — — Net (loss) income attributable to our common shareholder $ (60 ) $ 22 $ 6 $ (28 ) $ (60 ) Comprehensive income (loss) $ 7 $ 78 $ (1 ) $ (79 ) $ 5 Less: Comprehensive loss attributable to noncontrolling interest — — (2 ) — (2 ) Comprehensive income attributable to our common shareholder $ 7 $ 78 $ 1 $ (79 ) $ 7 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (in millions) Three Months Ended June 30, 2014 Parent Guarantors Non- Guarantors Eliminations Consolidated Net sales $ 174 $ 2,235 $ 685 $ (414 ) $ 2,680 Cost of goods sold (exclusive of depreciation and amortization) 172 1,950 621 (414 ) 2,329 Selling, general and administrative expenses (4 ) 91 21 — 108 Depreciation and amortization 4 64 21 — 89 Research and development expenses — 12 — — 12 Interest expense and amortization of debt issuance costs 80 14 3 (16 ) 81 Gain on assets held for sale, net (5 ) (6 ) — — (11 ) Restructuring and impairment, net — 5 1 — 6 Equity in net loss of non-consolidated affiliates — 2 — — 2 Equity in net income of consolidated subsidiaries (90 ) (9 ) — 99 — Other (income) expense, net (20 ) 4 5 16 5 137 2,127 672 (315 ) 2,621 Income before taxes 37 108 13 (99 ) 59 Income tax provision 2 18 4 — 24 Net income 35 90 9 (99 ) 35 Net income attributable to noncontrolling interests — — — — — Net income attributable to our common shareholder $ 35 $ 90 $ 9 $ (99 ) $ 35 Comprehensive income $ 66 $ 74 $ 44 $ (117 ) $ 67 Less: Comprehensive income attributable to noncontrolling interest — — 1 — 1 Comprehensive income attributable to our common shareholder $ 66 $ 74 $ 43 $ (117 ) $ 66 CONDENSED CONSOLIDATING BALANCE SHEET (in millions) As of June 30, 2015 Parent Guarantors Non- Guarantors Eliminations Consolidated ASSETS Current assets Cash and cash equivalents $ 4 $ 310 $ 142 $ — $ 456 Accounts receivable, net of allowances — third parties 33 1,143 254 — 1,430 — related parties 435 155 237 (772 ) 55 Inventories 41 1,166 322 (3 ) 1,526 Prepaid expenses and other current assets 8 97 25 — 130 Fair value of derivative instruments 10 109 11 (2 ) 128 Deferred income tax assets — 42 8 — 50 Assets held for sale — 5 — — 5 Total current assets 531 3,027 999 (777 ) 3,780 Property, plant and equipment, net 92 2,583 879 — 3,554 Goodwill — 596 11 — 607 Intangible assets, net 18 559 3 — 580 Investments in and advances to non-consolidated affiliates — 464 — — 464 Investments in consolidated subsidiaries 3,090 597 — (3,687 ) — Deferred income tax assets — 61 50 — 111 Other long-term assets — third parties 56 58 11 — 125 — related parties 1,170 66 — (1,219 ) 17 Total assets $ 4,957 $ 8,011 $ 1,953 $ (5,683 ) $ 9,238 LIABILITIES AND (DEFICIT) EQUITY Current liabilities Current portion of long-term debt $ 22 $ 8 $ 77 $ — $ 107 Short-term borrowings — third parties 406 535 80 — 1,021 — related parties 45 151 — (196 ) — Accounts payable — third parties 33 1,199 585 — 1,817 — related parties 68 448 39 (509 ) 46 Fair value of derivative instruments 48 61 21 (2 ) 128 Accrued expenses and other current liabilities — third parties 36 400 70 — 506 — related parties — 60 7 (67 ) — Deferred income tax liabilities — 18 — — 18 Total current liabilities 658 2,880 879 (774 ) 3,643 Long-term debt, net of current portion — third parties 4,266 27 141 — 4,434 — related parties 49 1,114 56 (1,219 ) — Deferred income tax liabilities — 249 7 — 256 Accrued postretirement benefits 31 547 188 — 766 Other long-term liabilities 28 170 6 — 204 Total liabilities 5,032 4,987 1,277 (1,993 ) 9,303 Commitments and contingencies Total temporary equity - intercompany — 1,681 — (1,681 ) — Shareholder’s (deficit) equity Common stock — — — — — Additional paid-in capital 1,404 — — — 1,404 (Accumulated deficit) retained earnings (985 ) 1,848 720 (2,568 ) (985 ) Accumulated other comprehensive (loss) income (494 ) (505 ) (54 ) 559 (494 ) Total (deficit) equity of our common shareholder (75 ) 1,343 666 (2,009 ) (75 ) Noncontrolling interests — — 10 — 10 Total (deficit) equity (75 ) 1,343 676 (2,009 ) (65 ) Total liabilities and (deficit) equity $ 4,957 $ 8,011 $ 1,953 $ (5,683 ) $ 9,238 CONDENSED CONSOLIDATING BALANCE SHEET (in millions) As of March 31, 2015 Parent Guarantors Non- Guarantors Eliminations Consolidated ASSETS Current assets Cash and cash equivalents $ 4 $ 365 $ 259 $ — $ 628 Accounts receivable, net of allowances — third parties 23 1,034 232 — 1,289 — related parties 385 154 158 (644 ) 53 Inventories 55 1,084 294 (2 ) 1,431 Prepaid expenses and other current assets 6 89 17 — 112 Fair value of derivative instruments 19 55 9 (6 ) 77 Deferred income tax assets — 70 9 — 79 Assets held for sale — 6 — — 6 Total current assets 492 2,857 978 (652 ) 3,675 Property, plant and equipment, net 95 2,549 898 — 3,542 Goodwill — 596 11 — 607 Intangible assets, net 19 562 3 — 584 Investments in and advances to non-consolidated affiliates — 447 — — 447 Investments in consolidated subsidiaries 3,013 597 — (3,610 ) — Deferred income tax assets — 47 48 — 95 Other long-term assets — third parties 57 70 10 — 137 — related parties 1,265 64 — (1,314 ) 15 Total assets $ 4,941 $ 7,789 $ 1,948 $ (5,576 ) $ 9,102 LIABILITIES AND (DEFICIT) EQUITY Current liabilities Current portion of long-term debt $ 22 $ 8 $ 78 $ — $ 108 Short-term borrowings — third parties 394 381 71 — 846 — related parties — 122 — (122 ) — Accounts payable — third parties 27 1,195 632 — 1,854 — related parties 78 393 42 (469 ) 44 Fair value of derivative instruments 83 62 10 (6 ) 149 Accrued expenses and other current liabilities — third parties 99 412 61 — 572 — related parties — 47 6 (53 ) — Deferred income tax liabilities — 20 — — 20 Total current liabilities 703 2,640 900 (650 ) 3,593 Long-term debt, net of current portion — third parties 4,205 28 116 — 4,349 — related parties 49 1,209 56 (1,314 ) — Deferred income tax liabilities — 254 7 — 261 Accrued postretirement benefits 30 534 184 — 748 Other long-term liabilities 36 175 10 — 221 Total liabilities 5,023 4,840 1,273 (1,964 ) 9,172 Commitments and contingencies Total temporary equity - intercompany — 1,681 — (1,681 ) — Shareholder’s (deficit) equity Common stock — — — — — Additional paid-in capital 1,404 — — — 1,404 (Accumulated deficit) retained earnings (925 ) 1,831 711 (2,542 ) (925 ) Accumulated other comprehensive (loss) income (561 ) (563 ) (48 ) 611 (561 ) Total (deficit) equity of our common shareholder (82 ) 1,268 663 (1,931 ) (82 ) Noncontrolling interests — — 12 — 12 Total (deficit) equity (82 ) 1,268 675 (1,931 ) (70 ) Total liabilities and (deficit) equity $ 4,941 $ 7,789 $ 1,948 $ (5,576 ) $ 9,102 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (in millions) Three Months Ended June 30, 2015 Parent Guarantors Non- Guarantors Eliminations Consolidated OPERATING ACTIVITIES Net cash used in operating activities $ (111 ) $ (57 ) $ (108 ) $ (12 ) $ (288 ) INVESTING ACTIVITIES Capital expenditures — (120 ) (9 ) — (129 ) Proceeds (outflows) from investment in and advances to affiliates, net 16 (1 ) (45 ) 29 (1 ) (Outflows) proceeds from settlement of other undesignated derivative instruments, net (11 ) 3 1 — (7 ) Net cash provided by (used in) investing activities 5 (118 ) (53 ) 29 (137 ) FINANCING ACTIVITIES Proceeds from issuance of long-term and short-term borrowings — third parties 60 45 34 — 139 Principal payments of long-term and short-term borrowings — third parties (1 ) (60 ) (7 ) — (68 ) — related parties — (45 ) — 45 — Revolving credit facilities and other, net — third parties 12 160 10 — 182 — related parties 45 29 — (74 ) — Intercompany dividends — (12 ) — 12 — Debt issuance costs (10 ) — — — (10 ) Net cash provided by financing activities 106 117 37 (17 ) 243 Net decrease in cash and cash equivalents — (58 ) (124 ) — (182 ) Effect of exchange rate changes on cash — 3 7 — 10 Cash and cash equivalents — beginning of period 4 365 259 — 628 Cash and cash equivalents — end of period $ 4 $ 310 $ 142 $ — $ 456 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (in millions) Three Months Ended June 30, 2014 Parent Guarantors Non- Guarantors Eliminations Consolidated OPERATING ACTIVITIES Net cash (used in) provided by operating activities $ (79 ) $ 67 $ 3 $ (15 ) $ (24 ) INVESTING ACTIVITIES Capital expenditures (4 ) (114 ) (20 ) — (138 ) Proceeds from the sale of assets, net of transaction fees — third parties 29 5 — — 34 Proceeds (outflow) from investment in and advances to affiliates, net 235 (16 ) — (235 ) (16 ) Proceeds (outflow) from settlement of other undesignated derivative instruments, net 3 (9 ) 7 — 1 Net cash provided by (used in) investing activities 263 (134 ) (13 ) (235 ) (119 ) FINANCING ACTIVITIES Proceeds from issuance of long-term and short-term borrowings — third parties — 95 10 — 105 — related parties — 500 3 (503 ) — Principal payments of long-term and short-term borrowings — third parties (5 ) (35 ) (13 ) — (53 ) — related parties — (17 ) — 17 — Revolving credit facilities and other, net — third parties 71 96 (1 ) — 166 — related parties — (721 ) — 721 — Return of capital to our common shareholder (250 ) — — — (250 ) Intercompany dividends — (15 ) — 15 — Net cash used in financing activities (184 ) (97 ) (1 ) 250 (32 ) Net decrease in cash and cash equivalents — (164 ) (11 ) — (175 ) Effect of exchange rate changes on cash — (1 ) 4 — 3 Cash and cash equivalents — beginning of period 4 372 133 — 509 Cash and cash equivalents — end of period $ 4 $ 207 $ 126 $ — $ 337

Business and Summary of Signi28

Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business We produce aluminum sheet and light gauge products for use in the packaging market, which includes beverage and food can and foil products, as well as for use in the automotive, transportation, electronics, architectural and industrial product markets. We have recycling operations in many of our plants to recycle post-consumer aluminum, such as used-beverage cans and post-industrial aluminum, such as class scrap. As of June 30, 2015 , we had manufacturing operations in eleven countries on four continents: North America, South America, Asia and Europe, through 25 operating facilities, including recycling operations in eleven of these plants. The March 31, 2015 condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (U.S. GAAP). The accompanying unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and accompanying notes in our Annual Report on Form 10-K for the year ended March 31, 2015 filed with the United States Securities and Exchange Commission (SEC) on May 12, 2015. Management believes that all adjustments necessary for the fair statement of results, consisting of normally recurring items, have been included in the unaudited condensed consolidated financial statements for the interim periods presented.
Consolidation Policy	Consolidation Policy Our condensed consolidated financial statements include the assets, liabilities, revenues and expenses of all wholly-owned subsidiaries, majority-owned subsidiaries over which we exercise control and entities in which we have a controlling financial interest or are deemed to be the primary beneficiary. We eliminate all significant intercompany accounts and transactions from our condensed consolidated financial statements. We use the equity method to account for our investments in entities that we do not control, but where we have the ability to exercise significant influence over operating and financial policies. Consolidated “ Net (loss) income attributable to our common shareholder ” includes our share of net income (loss) of these entities. The difference between consolidation and the equity method impacts certain of our financial ratios because of the presentation of the detailed line items reported in the condensed consolidated financial statements for consolidated entities, compared to a two-line presentation of " Investment in and advances to non–consolidated affiliate " and " Equity in net loss of non-consolidated affiliates ."
Use of Estimates and Assumptions	Use of Estimates and Assumptions The preparation of our condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. The principal areas of judgment relate to (1) the fair value of derivative financial instruments; (2) impairment of goodwill; (3) impairment of long lived assets and other intangible assets; (4) impairment and assessment of consolidation of equity investments; (5) actuarial assumptions related to pension and other postretirement benefit plans; (6) tax uncertainties and valuation allowances; and (7) assessment of loss contingencies, including environmental and litigation liabilities. Future events and their effects cannot be predicted with certainty, and accordingly, our accounting estimates require the exercise of judgment. The accounting estimates used in the preparation of our condensed consolidated financial statements may change as new events occur, as more experience is acquired, as additional information is obtained and as our operating environment changes. We evaluate and update our assumptions and estimates on an ongoing basis and may employ outside experts to assist in our evaluations. Actual results could differ from the estimates we have used.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards Effective for the first quarter of fiscal 2016, we adopted Financial Accounting Standards Board (FASB) ASU No. 2013-05, Foreign Currency Matters (Topic 830): Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity . The amendments in this update provide clarification regarding the release of a cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets within a foreign entity. Our existing accounting policy complies with this guidance; therefore, there was no impact on our financial statements.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which, when effective, will supersede the guidance in former ASC 605, Revenue Recognition . The new guidance requires entities to recognize revenue based on the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance is effective for annual periods beginning after December 15, 2016 and interim periods within that year. Early adoption is not permitted. In July 2015, the FASB approved an optional one-year deferral of the effective date. We are currently evaluating the impact of this standard on our consolidated financial position and results of operations. In February 2015, the FASB issued ASU No. 2015-02, Consolidations (Topic 810): Amendments to the Consolidations Analysis , which when effective, will (i) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities or voting interest entities, (ii) eliminate the presumption that a general partner should consolidate a limited partnership, (iii) affect the consolidation analysis of reporting entities that are involved with variable interest entities, particularly those that have fee arrangements and related party relationships, and (iv) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The guidance is effective for annual periods beginning after December 15, 2015 and interim periods within that year. Early adoption is permitted. We will adopt this standard in our first quarter ending June 30, 2016. We are currently evaluating the impact on our consolidated financial position, results of operations, and disclosures. In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs , which, when effective, will require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. The guidance is effective for annual periods beginning after December 15, 2015 and interim periods within that year. An entity should apply the new guidance on a retrospective basis, wherein the balance sheet or each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. Early adoption is permitted. We will adopt this standard in our first quarter ending June 30, 2016. Adoption of this standard will impact the presentation of deferred debt issuance costs on our consolidated financial position. In May 2015, the FASB issued ASU 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent), which, when effective, will remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. The guidance is effective for annual periods beginning after December 15, 2015 and interim periods within those fiscal years. An entity should apply the amendments retrospectively to all periods presented. Early adoption is permitted. We will adopt this standard in our annual period ending March 31, 2017. Adoption of this standard may impact the presentation of certain pension plan assets in our postretirement benefit plans footnote disclosure.

Restructuring and Impairment (T

Restructuring and Impairment (Tables)	3 Months Ended
	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
Schedule of restructuring liability activity and other impairment charges	The following table summarizes our restructuring liability activity and other impairment charges (in millions). Total restructuring liabilities Other restructuring charges (A) Total restructuring charges Other impairments (B) Total and impairments, net Balance as of March 31, 2015 $ 32 Expenses 14 $ 1 $ 15 $ — $ 15 Cash payments (10 ) Foreign currency translation and other 1 Balance as of June 30, 2015 $ 37 (A) Other restructuring charges include period expenses that were not recorded through the restructuring liability. (B) Other impairment charges not related to a restructuring activity.
Europe [Member]
Restructuring Cost and Reserve [Line Items]
Summary of restructuring reserve activity	The following table summarizes our restructuring activity for the Europe segment by plan (in millions). Three Months Ended June 30, Year Ended March 31, Prior to April 1, 2015 2015 2014 Restructuring charges - Europe Business optimization Severance $ 1 $ 3 $ 42 Pension settlement loss (A) — — 1 Total restructuring charges - Europe $ 1 $ 3 $ 43 Restructuring payments - Europe Severance $ (2 ) $ (12 ) Total restructuring payments - Europe $ (2 ) $ (12 ) (A) These charges were not recorded through the restructuring liability.
South America [Member]
Restructuring Cost and Reserve [Line Items]
Summary of restructuring reserve activity	The following table summarizes our restructuring activity for the South America segment by plan (in millions). Three Months Ended June 30, Year Ended March 31, Prior to April 1, 2015 2015 2014 Restructuring charges - South America Ouro Preto smelter closures Severance $ 1 $ 14 $ 5 Asset impairments (A) — 5 1 Environmental charges — 6 16 Contract termination and other exit related costs 1 5 6 Other past restructuring programs — 1 20 Total restructuring charges - South America $ 2 $ 31 $ 48 Restructuring payments - South America Severance $ (1 ) $ (12 ) Other (1 ) (4 ) Total restructuring payments - South America $ (2 ) $ (16 ) (A) These charges were not recorded through the restructuring liability.
Corporate [Member]
Restructuring Cost and Reserve [Line Items]
Summary of restructuring reserve activity	The following table summarizes our restructuring activity for our corporate office by plan (in millions). Three Months Ended June 30, Year Ended March 31, Prior to April 1, 2015 2015 2014 Corporate Restructuring Program Severance $ 11 $ — $ — Asset impairments (A) 1 — — Total restructuring charges - Corporate $ 12 $ — $ — Restructuring payments - Corporate Severance $ (6 ) $ — Lease Termination Costs — (1 ) Total restructuring payments - Corporate $ (6 ) $ (1 )

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Schedule of inventories	Inventories" consist of the following (in millions). June 30, March 31, Finished goods $ 375 $ 358 Work in process 529 531 Raw materials 492 419 Supplies 130 123 Inventories $ 1,526 $ 1,431

Consolidation (Tables)

Consolidation (Tables)	3 Months Ended
	Jun. 30, 2015
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Schedule of variable interest entity	Variable Interest Entities (VIE) The entity that has a controlling financial interest in a VIE is referred to as the primary beneficiary and consolidates the VIE. An entity is deemed to have a controlling financial interest and is the primary beneficiary of a VIE if it has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. We have a joint interest in Logan Aluminum Inc. (Logan) with Tri-Arrows Aluminum Inc. (Tri-Arrows). Logan processes metal received from Novelis and Tri-Arrows and charges the respective partner a fee to cover expenses. Logan is thinly capitalized and relies on the regular reimbursement of costs and expenses by Novelis and Tri-Arrows to fund its operations. This reimbursement is considered a variable interest as it constitutes a form of financing of the activities of Logan. Other than these contractually required reimbursements, we do not provide other material support to Logan. Logan’s creditors do not have recourse to our general credit. We have a majority voting right on Logan’s board of directors and have the ability to direct the majority of Logan’s production operations. We also have the ability to take the majority share of production and associated costs. These facts qualify us as Logan’s primary beneficiary and this entity is consolidated for all periods presented. All significant intercompany transactions and balances have been eliminated. The following table summarizes the carrying value and classification of assets and liabilities owned by the Logan joint venture and consolidated in our condensed consolidated balance sheets (in millions). There are significant other assets used in the operations of Logan that are not part of the joint venture, as they are directly owned and consolidated by Novelis or Tri-Arrows.

Investment In and Advances To32

Investment In and Advances To Non-Consolidated Affiliates and Related Party Transactions (Tables)	3 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Summary of condensed results of operations of equity method affiliates	The following table summarizes the results of operations of these equity method affiliates for the three months ended June 30, 2015 and 2014 ; and the nature and amounts of significant transactions we had with our non-consolidated affiliates (in millions). The amounts in the table below are disclosed at 100% of the operating results of these affiliates. Three Months Ended June 30, 2015 2014 Net sales $ 117 $ 138 Costs and expenses related to net sales 118 146 Benefit for taxes on income (1 ) (2 ) Net loss $ — $ (6 ) Purchases of tolling services from Alunorf $ 58 $ 69
Period-end account balances with non-consolidated affiliates, shown as related party balances	June 30, March 31, Accounts receivable-related parties $ 55 $ 53 Other long-term assets-related parties $ 17 $ 15 Accounts payable-related parties $ 46 $ 44

Debt (Tables)

Debt (Tables)	3 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule of debt	Debt consisted of the following (in millions). June 30, 2015 March 31, 2015 Interest Rates (A) Principal Unamortized Carrying Value Adjustments Carrying Value Principal Unamortized Carrying Value Adjustments Carrying Value Third party debt: Short-term borrowings 3.08 % $ 1,021 $ — $ 1,021 $ 846 $ — $ 846 Novelis Inc. Floating rate Term Loan Facility, due through June 2022 4.00 % 1,800 (19 ) (B) 1,781 1,731 (13 ) (B) 1,718 8.375% Senior Notes, due December 2017 8.375 % 1,100 — 1,100 1,100 — 1,100 8.75% Senior Notes, due December 2020 8.75 % 1,400 — 1,400 1,400 — 1,400 Capital lease obligations, due through July 2017 3.64 % 7 — 7 9 — 9 Novelis Korea Limited Bank loans, due through September 2020 (KRW 242 billion) 2.77 % 216 — 216 192 — 192 Novelis Switzerland S.A. Capital lease obligation, due through December 2019 (Swiss francs (CHF) 26 million) 7.50 % 28 (1 ) (C) 27 28 (1 ) (C) 27 Novelis do Brasil Ltda. BNDES loans, due through April 2021 (BRL 20 million) 5.91 % 7 (1 ) (D) 6 7 (1 ) (D) 6 Other Other debt, due through December 2020 6.19 % 4 — 4 5 — 5 Total debt 5,583 (21 ) 5,562 5,318 (15 ) 5,303 Less: Short-term borrowings (1,021 ) — (1,021 ) (846 ) — (846 ) Current portion of long term debt (107 ) — (107 ) (108 ) — (108 ) Long-term debt, net of current portion $ 4,455 $ (21 ) $ 4,434 $ 4,364 $ (15 ) $ 4,349 (A) I nterest rates are the fixed or variable rates as specified in the debt instruments (not the effective interest rate) as of June 30, 2015 , and therefore, exclude the effects of related interest rate swaps, accretion/amortization of fair value adjustments as a result of purchase accounting in connection with Hindalco's purchase of Novelis and accretion/amortization of debt issuance costs related to the debt exchange completed in fiscal 2009 and the series of refinancing transactions and additional borrowings we completed in fiscal 2011 through 2016. We present stated rates of interest because they reflect the rate at which cash will be paid for future debt service. (B) Debt existing at the time of Hindalco's purchase of Novelis was recorded at fair value. In connection with a series of refinancing transactions, a portion of the historical fair value adjustments was allocated to the Term Loan Facility, resulting in carrying value adjustments on this debt obligation. The unamortized carrying value also includes an issuance discount. (C) Debt existing at the time of Hindalco's purchase of Novelis was recorded at fair value resulting in carrying value adjustments to our capital lease obligations in Novelis Switzerland. (D) The unamortized carrying value includes issuance discounts related to the difference resulting from the contractual rates of interest specified in the instruments that are lower than the market rates of interest upon issuance.
Principal repayment requirements for total debt over the next five years and thereafter	Principal repayment requirements for our total debt over the next five years and thereafter (excluding unamortized carrying value adjustments and using exchange rates as of June 30, 2015 for our debt denominated in foreign currencies) are as follows (in millions). As of June 30, 2015 Amount Short-term borrowings and current portion of long-term debt due within one year $ 1,128 2 years 89 3 years 1,205 4 years 26 5 years 22 Thereafter 3,113 Total $ 5,583

Postretirement Benefit Plans (T

Postretirement Benefit Plans (Tables)	3 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Components of net periodic benefit cost for all significant postretirement benefit plans	Components of net periodic benefit cost (credit) for all of our significant postretirement benefit plans are shown in the tables below (in millions). Pension Benefit Plans Other Benefit Plans Three Months Ended June 30, Three Months Ended June 30, 2015 2014 2015 2014 Service cost $ 12 $ 11 $ 1 $ 1 Interest cost 15 17 1 1 Expected return on assets (17 ) (17 ) — — Amortization — losses, net 9 6 1 2 Amortization — prior service credit, net (1 ) (1 ) (7 ) (10 ) Termination benefits / curtailments — 1 — (2 ) Net periodic benefit cost (credit) $ 18 $ 17 $ (4 ) $ (8 )
Contributions to employee benefit plans	We contributed the following amounts to all plans (in millions). Three Months Ended June 30, 2015 2014 Funded pension plans $ 3 $ 4 Unfunded pension plans 2 1 Savings and defined contribution pension plans 7 6 Total contributions $ 12 $ 11

Currency (Gains) Losses (Tables

Currency (Gains) Losses (Tables)	3 Months Ended
	Jun. 30, 2015
Foreign Currency [Abstract]
Currency (gains) losses included in "Other (income) expense, net"	The following currency (gains) losses are included in “Other (income) expense, net” in the accompanying condensed consolidated statements of operations (in millions). Three Months Ended June 30, 2015 2014 (Gain) loss on remeasurement of monetary assets and liabilities, net $ (5 ) $ 11 Loss (gain) recognized on balance sheet remeasurement currency exchange contracts, net 1 (11 ) Currency gains, net $ (4 ) $ —
Currency gains (losses) included in "AOCI," net of tax and "Noncontrolling interests"	The following currency gains (losses) are included in “Accumulated other comprehensive loss” (“AOCI”) and “Noncontrolling interests” in the accompanying condensed consolidated balance sheets (in millions). Three Months Ended June 30, 2015 Year Ended March 31, 2015 Cumulative currency translation adjustment — beginning of period $ (214 ) $ 90 Effect of changes in exchange rates 42 (304 ) Cumulative currency translation adjustment — end of period $ (172 ) $ (214 )

Financial Instruments and Com36

Financial Instruments and Commodity Contracts (Tables)	3 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair values of financial instruments and commodity contracts	The following tables summarize the gross fair values of our financial instruments and commodity contracts as of June 30, 2015 and March 31, 2015 (in millions). June 30, 2015 Assets Liabilities Net Fair Value Current Noncurrent (A) Current Noncurrent (A) Assets / (Liabilities) Derivatives designated as hedging instruments: Cash flow hedges Aluminum contracts $ 29 $ — $ — $ — $ 29 Currency exchange contracts 1 — (29 ) (10 ) (38 ) Energy contracts — — (5 ) (1 ) (6 ) Net investment hedges Currency exchange contracts 3 — — — 3 Total derivatives designated as hedging instruments $ 33 $ — $ (34 ) $ (11 ) $ (12 ) Derivatives not designated as hedging instruments Aluminum contracts 79 — (41 ) — 38 Currency exchange contracts 14 — (39 ) — (25 ) Energy contracts 2 — (14 ) (5 ) (17 ) Total derivatives not designated as hedging instruments 95 — (94 ) (5 ) (4 ) Total derivative fair value $ 128 $ — $ (128 ) $ (16 ) $ (16 ) March 31, 2015 Assets Liabilities Net Fair Value Current Noncurrent (A) Current Noncurrent(A) Assets / (Liabilities) Derivatives designated as hedging instruments: Cash flow hedges Aluminum contracts $ 15 $ — $ (5 ) $ — $ 10 Currency exchange contracts 4 — (42 ) (15 ) (53 ) Energy contracts — — (6 ) (2 ) (8 ) Interest rate swaps — — (1 ) — (1 ) Net investment hedges Currency exchange contracts 5 — — — 5 Total derivatives designated as hedging instruments $ 24 $ — $ (54 ) $ (17 ) $ (47 ) Derivatives not designated as hedging instruments: Aluminum contracts 24 — (26 ) — (2 ) Currency exchange contracts 26 — (54 ) — (28 ) Energy contracts 3 — (15 ) (7 ) (19 ) Total derivatives not designated as hedging instruments 53 — (95 ) (7 ) (49 ) Total derivative fair value $ 77 $ — $ (149 ) $ (24 ) $ (96 ) (A) The noncurrent portions of derivative assets and liabilities are included in “Other long-term assets-third parties” and in “Other long-term liabilities”, respectively, in the accompanying condensed consolidated balance sheets.
Summary of notional amount	The following table summarizes our notional amount (in kt). June 30, March 31, Hedge Type Purchase (Sale) Cash flow purchases 4 1 Cash flow sales (235 ) (285 ) Fair value 7 2 Not designated (188 ) (36 ) Total, net (412 ) (318 )
Summary of gains (losses) associated with the change in the fair value derivative instruments recognized in "Other (income) expense, net"	The following table summarizes the gains (losses) associated with the change in fair value of derivative instruments not designated as hedges and the ineffectiveness of designated derivatives recognized in “Other (income) expense, net” (in millions). Gains (losses) recognized in other line items in the condensed consolidated statement of operations are separately disclosed within this footnote. Three Months Ended June 30, 2015 2014 Derivative Instruments Not Designated as Hedges Aluminum contracts (C) $ 31 $ (7 ) Currency exchange contracts 1 12 Energy contracts (A) — 2 Gain recognized in "Other (income) expense, net" 32 7 Derivative Instruments Designated as Hedges (Loss) gain recognized in "Other (income) expense, net" (B) (6 ) 2 Total gain recognized in "Other (income) expense, net" $ 26 $ 9 Balance sheet remeasurement currency exchange contract (losses) gains $ (1 ) $ 11 Realized losses, net (8 ) (3 ) Unrealized gains on other derivative instruments, net (C) 35 1 Total gain recognized in "Other (income) expense, net" $ 26 $ 9 (A) Includes amounts related to de-designated electricity swap and natural gas swaps not designated as hedges. (B) Amount includes: forward market premium/discount excluded from hedging relationship and ineffectiveness on designated aluminum and foreign currency capital expenditure contracts; releases to income from AOCI on balance sheet remeasurement contracts; and ineffectiveness of fair value hedges involving aluminum derivatives
Summary of the impact on AOCI and earnings of derivative instruments designated as cash flow hedges	The following table summarizes the impact on AOCI and earnings of derivative instruments designated as cash flow and net investment hedges (in millions). Within the next twelve months, we expect to reclassify $3 million of losses from AOCI to earnings, before taxes. Amount of Gain (Loss) Recognized in OCI (Effective Portion) Amount of Gain (Loss) (Ineffective and Three Months Ended June 30, Three Months Ended June 30, 2015 2014 2015 2014 Cash flow hedging derivatives Aluminum contracts $ 37 $ (21 ) $ (6 ) $ 3 Currency exchange contracts 8 32 — (1 ) Energy contracts — — — — Interest Rate Swaps — — — — Total cash flow hedging derivatives $ 45 $ 11 $ (6 ) $ 2 Net investment derivatives Currency exchange contracts (1 ) — — — Total $ 44 $ 11 $ (6 ) $ 2 Gain (Loss) Reclassification Amount of Gain (Loss) Reclassified from AOCI into Income/(Expense) (Effective Portion) Three Months Ended June 30, Location of Gain (Loss) Reclassified from AOCI into Earnings Cash flow hedging derivatives 2015 2014 Energy contracts (A) $ (1 ) $ (1 ) Other (income) expense, net Energy contracts (C) (2 ) 1 Cost of goods sold (B) Aluminum contracts 13 (6 ) Cost of goods sold (B) Currency exchange contracts (6 ) 1 Cost of goods sold (B) Currency exchange contracts 3 4 Net sales Currency exchange contracts — 1 Other (income) expense, net Total $ 7 $ — Income before taxes (4 ) — Income tax benefit (provision) $ 3 $ — Net income (A) Includes amounts related to de-designated electricity swap. AOCI related to this swap is amortized to income over the remaining term of the hedged item. (B) "Cost of goods sold" is exclusive of depreciation and amortization. (C) Includes amounts related to natural gas swaps.

Accumulated Other Comprehensi37

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Accumulated other comprehensive income, net of tax	The following tables summarize the change in the components of accumulated other comprehensive loss net of tax and "Noncontrolling interests", for the periods presented (in millions). Currency Translation (A) Cash Flow Hedges (B) Total Balance as of March 31, 2015 $ (213 ) $ (63 ) $ (285 ) $ (561 ) Other comprehensive income (loss) before reclassifications 44 33 (8 ) 69 Amounts reclassified from AOCI — (3 ) 1 (2 ) Net current-period other comprehensive income (loss) 44 30 (7 ) 67 Balance as of June 30, 2015 $ (169 ) $ (33 ) $ (292 ) $ (494 ) Currency Translation (A) Cash Flow Hedges (B) Total Balance as of March 31, 2014 $ 89 $ (20 ) $ (160 ) $ (91 ) Other comprehensive income (loss) before reclassifications 26 13 (5 ) 34 Amounts reclassified from AOCI — — (3 ) (3 ) Net current-period other comprehensive income (loss) 26 13 (8 ) 31 Balance as of June 30, 2014 $ 115 $ (7 ) $ (168 ) $ (60 ) (A) For additional information on our cash flow hedges see Note 11 - Financial Instruments and Commodity Contracts. (B) For additional information on our postretirement benefit plans see Note 9 - Postretirement Benefit Plans.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Derivative assets and liabilities measured and recognized at fair value on a recurring basis classified under the appropriate level of the fair value hierarchy	The following table presents our derivative assets and liabilities which were measured and recognized at fair value on a recurring basis classified under the appropriate level of the fair value hierarchy as of June 30, 2015 and March 31, 2015 (in millions). June 30, 2015 March 31, 2015 Assets Liabilities Assets Liabilities Level 2 instruments Aluminum contracts $ 108 $ (41 ) $ 39 $ (31 ) Currency exchange contracts 18 (78 ) 35 (111 ) Energy contracts 2 (10 ) 3 (14 ) Interest rate swaps — — — (1 ) Total level 2 instruments 128 (129 ) 77 (157 ) Level 3 instruments Energy contracts — (15 ) — (16 ) Total level 3 instruments — (15 ) — (16 ) Total gross $ 128 $ (144 ) $ 77 $ (173 ) Netting adjustment (A) (40 ) 40 (28 ) 28 Total net $ 88 $ (104 ) $ 49 $ (145 ) (A) Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions with the same counterparties.
Reconciliation of fair value activity for Level 3 derivative contracts	The following table presents a reconciliation of fair value activity for Level 3 derivative contracts (in millions). Level 3 – Derivative Instruments (A) Balance as of March 31, 2015 $ (16 ) Unrealized/realized loss included in earnings (B) 1 Settlements — Balance as of June 30, 2015 $ (15 ) (A) Represents net derivative liabilities. (B) Included in “Other (income) expense, net.”
Estimated fair value of certain financial instruments that are not recorded at fair value on a recurring basis	The table below presents the estimated fair value of certain financial instruments not recorded at fair value on a recurring basis (in millions). The table excludes short-term financial assets and liabilities for which we believe carrying value approximates fair value. The fair value of long-term receivables is based on anticipated cash flows, which approximates carrying value and is classified as Level 2. We value long-term debt using Level 2 inputs. Valuations are based on either market and/or broker ask prices when available or on a standard credit adjusted discounted cash flow model using market observable inputs. June 30, 2015 March 31, 2015 Carrying Value Fair Value Carrying Value Fair Value Assets Long-term receivables from related parties $ 17 $ 15 $ 15 $ 15 Liabilities Total debt — third parties (excluding short-term borrowings) $ 4,541 $ 4,519 $ 4,457 $ 4,659

Other Expense (Income), Net (Ta

Other Expense (Income), Net (Tables)	3 Months Ended
	Jun. 30, 2015
Other Income and Expenses [Abstract]
Schedule of other nonoperating income (expense)	“Other (income) expense, net” is comprised of the following (in millions). Three Months Ended June 30, 2015 2014 Foreign currency remeasurement gains, net (A) $ (4 ) $ — Gain on change in fair value of other unrealized derivative instruments, net (B) (35 ) (1 ) Loss on change in fair value of other realized derivative instruments, net (B) 8 3 Loss on sale of assets, net 1 1 Loss on Brazilian tax litigation, net (C) 1 2 Interest income (2 ) (1 ) Gain on business interruption insurance recovery (D) (5 ) — Other, net 6 1 Other (income) expense, net $ (30 ) $ 5 (A) Includes “(Gain) loss recognized on balance sheet remeasurement currency exchange contracts, net.” (B) See Note 11 - Financial Instruments and Commodity Contracts for further details. (C) See Note 16 – Commitments and Contingencies – Brazil Tax and Legal Matters for further details. (D) We experienced an outage at the hotmill in the Logan facility in North America due to an unexpected failure of a motor, which resulted in lost shipments and profits during the fourth quarter of fiscal 2015. A repaired motor was installed and operations at the hotmill resumed, within approximately three weeks of the outage. We recognized gains of $5 million and $13 million during the first quarter of fiscal 2016 and fourth quarter of fiscal 2015, respectively, as partial settlements of the related business interruption recovery claim.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Reconciliation of Canadian statutory tax rates to effective tax rates	A reconciliation of the Canadian statutory tax rate to our effective tax rate was as follows (in millions, except percentages). Three Months Ended June 30, 2015 2014 Pre-tax (loss) income before equity in net loss of non-consolidated affiliates and noncontrolling interests $ (44 ) $ 61 Canadian statutory tax rate 25 % 25 % (Benefit) provision at the Canadian statutory rate $ (11 ) $ 15 Increase (decrease) for taxes on income (loss) resulting from: Exchange translation items 8 4 Exchange remeasurement of deferred income taxes 2 4 Change in valuation allowances 21 11 Income items not subject to tax — (1 ) Dividends not subject to tax (5 ) (10 ) Tax rate differences on foreign earnings 1 1 Other, net (1 ) — Income tax provision $ 15 $ 24 Effective tax rate (33 )% 39 %

Commitments and Contingencies B

Commitments and Contingencies Brazil Tax and Legal Matters (Tables)	3 Months Ended
	Jun. 30, 2015
Settlement with Taxing Authority [Member]
Loss Contingencies [Line Items]
Schedule of Loss Contingencies by Contingency [Table Text Block]	June 30, March 31, Cash deposits (A) $ 3 $ 3 Short-term settlement liability (B) $ 8 $ 7 Long-term settlement liability (B) 67 66 Total settlement liability $ 75 $ 73 Liability for other disputes and claims (C) $ 14 $ 12 (A) We have maintained these cash deposits as a result of legal proceedings with Brazil's tax authorities. These deposits, which are included in “Other long-term assets — third parties” in our accompanying condensed consolidated balance sheets, will be expended toward these legal proceedings. (B) The short-term and long-term settlement liabilities are included in "Accrued expenses and other current liabilities" and "Other long-term liabilities", respectively, in our accompanying condensed consolidated balance sheets. (C) In addition to the disputes we have settled under the federal tax dispute settlement program, we are involved in several other unresolved tax and other legal claims in Brazil. The related liabilities are included in "Other long-term liabilities" in our accompanying condensed consolidated balance sheets.
Interest Expense [Member]
Loss Contingencies [Line Items]
Schedule of Loss Contingencies by Contingency [Table Text Block]	Three Months Ended June 30, 2015 2014 Loss on Brazilian tax litigation, net $ 1 $ 2

Segment, Major Customer and M42

Segment, Major Customer and Major Supplier Information (Tables)	3 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Selected segment financial information	Selected Segment Financial Information June 30, 2015 North America Europe Asia South America Eliminations and Other Total Investment in and advances to non–consolidated affiliate $ — $ 464 $ — $ — $ — $ 464 Total assets $ 2,800 $ 3,158 $ 1,578 $ 1,559 $ 143 $ 9,238 March 31, 2015 North America Europe Asia South America Eliminations and Other Total Investment in and advances to non–consolidated affiliate $ — $ 447 $ — $ — $ — $ 447 Total assets $ 2,744 $ 2,952 $ 1,663 $ 1,588 $ 155 $ 9,102 Selected Operating Results Three Months Ended June 30, 2015 North America Europe Asia South America Eliminations and Other Total Net sales-third party $ 886 $ 815 $ 533 $ 353 $ 47 $ 2,634 Net sales-intersegment 2 65 33 38 (138 ) — Net sales $ 888 $ 880 $ 566 $ 391 $ (91 ) $ 2,634 Depreciation and amortization $ 35 $ 25 $ 16 $ 15 $ (4 ) $ 87 Income tax (benefit) provision $ (15 ) $ (6 ) $ 1 $ 17 $ 18 $ 15 Capital expenditures $ 52 $ 56 $ 10 $ 8 $ 3 $ 129 Selected Operating Results Three Months Ended June 30, 2014 North America Europe Asia South America Eliminations and Other Total Net sales-third party $ 815 $ 880 $ 529 $ 403 $ 53 $ 2,680 Net sales-intersegment 6 34 27 17 (84 ) — Net sales $ 821 $ 914 $ 556 $ 420 $ (31 ) $ 2,680 Depreciation and amortization $ 34 $ 25 $ 20 $ 17 $ (7 ) $ 89 Income tax (benefit) provision $ (9 ) $ 12 $ 3 $ 12 $ 6 $ 24 Capital expenditures $ 19 $ 89 $ 20 $ 17 $ (7 ) $ 138
Reconciliation from income from reportable segments to "Net income attributable to out common shareholder"	The following table shows the reconciliation from segment income for each of our regions to “Net (loss) income attributable to our common shareholder” (in millions). Three Months Ended June 30, 2015 2014 North America $ 42 $ 64 Europe (9 ) 79 Asia 36 37 South America 59 55 Intersegment eliminations (1 ) — Depreciation and amortization (87 ) (89 ) Interest expense and amortization of debt issuance costs (80 ) (81 ) Adjustment to eliminate proportional consolidation (7 ) (8 ) Unrealized gains on change in fair value of derivative instruments, net 35 1 Realized gains (losses) on derivative instruments not included in segment income 1 (1 ) Gain on assets held for sale — 11 Loss on extinguishment of debt (13 ) — Restructuring and impairment, net (15 ) (6 ) Loss on sale of fixed assets (1 ) (1 ) Other costs, net (5 ) (2 ) (Loss) income before income taxes (45 ) 59 Income tax provision 15 24 Net (loss) income (60 ) 35 Net income attributable to noncontrolling interests — — Net (loss) income attributable to our common shareholder $ (60 ) $ 35
Net sales to largest customers, as a percentage of total Net sales	The table below shows our net sales to Rexam Plc (Rexam) and Affiliates of Ball Corporation (Ball), our two largest customers, as a percentage of total “Net sales.” Three Months Ended June 30, 2015 2014 Rexam (A) 18 % 18 % Ball Corporation (A) 10 % 11 %
Percentage of total combined metal purchases	Three Months Ended June 30, 2015 2014 Purchases from RTA as a percentage of total 14 % 15 %

Supplemental Information (Table

Supplemental Information (Tables)	3 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Supplemental cash flow information	Three Months Ended June 30, 2015 2014 Supplemental disclosures of cash flow information: Interest paid $ 123 $ 127 Income taxes paid $ 10 $ 39

Supplemental Guarantor Inform44

Supplemental Guarantor Information (Tables)	3 Months Ended
	Jun. 30, 2015
Supplemental Guarantor Information [Abstract]
Condensed consolidating statement of operations	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (in millions) Three Months Ended June 30, 2015 Parent Guarantors Non- Guarantors Eliminations Consolidated Net sales $ 166 $ 2,291 $ 633 $ (456 ) $ 2,634 Cost of goods sold (exclusive of depreciation and amortization) 177 2,099 579 (455 ) 2,400 Selling, general and administrative expenses (7 ) 87 20 — 100 Depreciation and amortization 5 65 17 — 87 Research and development expenses — 13 — — 13 Interest expense and amortization of debt issuance costs 79 17 2 (18 ) 80 Loss on extinguishment of debt 13 — — — 13 Restructuring and impairment, net 9 5 1 — 15 Equity in net loss of non-consolidated affiliates — 1 — — 1 Equity in net income of consolidated subsidiaries (21 ) (6 ) — 27 — Other (income) expense, net (30 ) (25 ) 7 18 (30 ) 225 2,256 626 (428 ) 2,679 (Loss) income before income taxes (59 ) 35 7 (28 ) (45 ) Income tax provision 1 13 1 — 15 Net (loss) income (60 ) 22 6 (28 ) (60 ) Net income attributable to noncontrolling interests — — — — — Net (loss) income attributable to our common shareholder $ (60 ) $ 22 $ 6 $ (28 ) $ (60 ) Comprehensive income (loss) $ 7 $ 78 $ (1 ) $ (79 ) $ 5 Less: Comprehensive loss attributable to noncontrolling interest — — (2 ) — (2 ) Comprehensive income attributable to our common shareholder $ 7 $ 78 $ 1 $ (79 ) $ 7 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (in millions) Three Months Ended June 30, 2014 Parent Guarantors Non- Guarantors Eliminations Consolidated Net sales $ 174 $ 2,235 $ 685 $ (414 ) $ 2,680 Cost of goods sold (exclusive of depreciation and amortization) 172 1,950 621 (414 ) 2,329 Selling, general and administrative expenses (4 ) 91 21 — 108 Depreciation and amortization 4 64 21 — 89 Research and development expenses — 12 — — 12 Interest expense and amortization of debt issuance costs 80 14 3 (16 ) 81 Gain on assets held for sale, net (5 ) (6 ) — — (11 ) Restructuring and impairment, net — 5 1 — 6 Equity in net loss of non-consolidated affiliates — 2 — — 2 Equity in net income of consolidated subsidiaries (90 ) (9 ) — 99 — Other (income) expense, net (20 ) 4 5 16 5 137 2,127 672 (315 ) 2,621 Income before taxes 37 108 13 (99 ) 59 Income tax provision 2 18 4 — 24 Net income 35 90 9 (99 ) 35 Net income attributable to noncontrolling interests — — — — — Net income attributable to our common shareholder $ 35 $ 90 $ 9 $ (99 ) $ 35 Comprehensive income $ 66 $ 74 $ 44 $ (117 ) $ 67 Less: Comprehensive income attributable to noncontrolling interest — — 1 — 1 Comprehensive income attributable to our common shareholder $ 66 $ 74 $ 43 $ (117 ) $ 66
Condensed consolidating balance sheet	CONDENSED CONSOLIDATING BALANCE SHEET (in millions) As of June 30, 2015 Parent Guarantors Non- Guarantors Eliminations Consolidated ASSETS Current assets Cash and cash equivalents $ 4 $ 310 $ 142 $ — $ 456 Accounts receivable, net of allowances — third parties 33 1,143 254 — 1,430 — related parties 435 155 237 (772 ) 55 Inventories 41 1,166 322 (3 ) 1,526 Prepaid expenses and other current assets 8 97 25 — 130 Fair value of derivative instruments 10 109 11 (2 ) 128 Deferred income tax assets — 42 8 — 50 Assets held for sale — 5 — — 5 Total current assets 531 3,027 999 (777 ) 3,780 Property, plant and equipment, net 92 2,583 879 — 3,554 Goodwill — 596 11 — 607 Intangible assets, net 18 559 3 — 580 Investments in and advances to non-consolidated affiliates — 464 — — 464 Investments in consolidated subsidiaries 3,090 597 — (3,687 ) — Deferred income tax assets — 61 50 — 111 Other long-term assets — third parties 56 58 11 — 125 — related parties 1,170 66 — (1,219 ) 17 Total assets $ 4,957 $ 8,011 $ 1,953 $ (5,683 ) $ 9,238 LIABILITIES AND (DEFICIT) EQUITY Current liabilities Current portion of long-term debt $ 22 $ 8 $ 77 $ — $ 107 Short-term borrowings — third parties 406 535 80 — 1,021 — related parties 45 151 — (196 ) — Accounts payable — third parties 33 1,199 585 — 1,817 — related parties 68 448 39 (509 ) 46 Fair value of derivative instruments 48 61 21 (2 ) 128 Accrued expenses and other current liabilities — third parties 36 400 70 — 506 — related parties — 60 7 (67 ) — Deferred income tax liabilities — 18 — — 18 Total current liabilities 658 2,880 879 (774 ) 3,643 Long-term debt, net of current portion — third parties 4,266 27 141 — 4,434 — related parties 49 1,114 56 (1,219 ) — Deferred income tax liabilities — 249 7 — 256 Accrued postretirement benefits 31 547 188 — 766 Other long-term liabilities 28 170 6 — 204 Total liabilities 5,032 4,987 1,277 (1,993 ) 9,303 Commitments and contingencies Total temporary equity - intercompany — 1,681 — (1,681 ) — Shareholder’s (deficit) equity Common stock — — — — — Additional paid-in capital 1,404 — — — 1,404 (Accumulated deficit) retained earnings (985 ) 1,848 720 (2,568 ) (985 ) Accumulated other comprehensive (loss) income (494 ) (505 ) (54 ) 559 (494 ) Total (deficit) equity of our common shareholder (75 ) 1,343 666 (2,009 ) (75 ) Noncontrolling interests — — 10 — 10 Total (deficit) equity (75 ) 1,343 676 (2,009 ) (65 ) Total liabilities and (deficit) equity $ 4,957 $ 8,011 $ 1,953 $ (5,683 ) $ 9,238 CONDENSED CONSOLIDATING BALANCE SHEET (in millions) As of March 31, 2015 Parent Guarantors Non- Guarantors Eliminations Consolidated ASSETS Current assets Cash and cash equivalents $ 4 $ 365 $ 259 $ — $ 628 Accounts receivable, net of allowances — third parties 23 1,034 232 — 1,289 — related parties 385 154 158 (644 ) 53 Inventories 55 1,084 294 (2 ) 1,431 Prepaid expenses and other current assets 6 89 17 — 112 Fair value of derivative instruments 19 55 9 (6 ) 77 Deferred income tax assets — 70 9 — 79 Assets held for sale — 6 — — 6 Total current assets 492 2,857 978 (652 ) 3,675 Property, plant and equipment, net 95 2,549 898 — 3,542 Goodwill — 596 11 — 607 Intangible assets, net 19 562 3 — 584 Investments in and advances to non-consolidated affiliates — 447 — — 447 Investments in consolidated subsidiaries 3,013 597 — (3,610 ) — Deferred income tax assets — 47 48 — 95 Other long-term assets — third parties 57 70 10 — 137 — related parties 1,265 64 — (1,314 ) 15 Total assets $ 4,941 $ 7,789 $ 1,948 $ (5,576 ) $ 9,102 LIABILITIES AND (DEFICIT) EQUITY Current liabilities Current portion of long-term debt $ 22 $ 8 $ 78 $ — $ 108 Short-term borrowings — third parties 394 381 71 — 846 — related parties — 122 — (122 ) — Accounts payable — third parties 27 1,195 632 — 1,854 — related parties 78 393 42 (469 ) 44 Fair value of derivative instruments 83 62 10 (6 ) 149 Accrued expenses and other current liabilities — third parties 99 412 61 — 572 — related parties — 47 6 (53 ) — Deferred income tax liabilities — 20 — — 20 Total current liabilities 703 2,640 900 (650 ) 3,593 Long-term debt, net of current portion — third parties 4,205 28 116 — 4,349 — related parties 49 1,209 56 (1,314 ) — Deferred income tax liabilities — 254 7 — 261 Accrued postretirement benefits 30 534 184 — 748 Other long-term liabilities 36 175 10 — 221 Total liabilities 5,023 4,840 1,273 (1,964 ) 9,172 Commitments and contingencies Total temporary equity - intercompany — 1,681 — (1,681 ) — Shareholder’s (deficit) equity Common stock — — — — — Additional paid-in capital 1,404 — — — 1,404 (Accumulated deficit) retained earnings (925 ) 1,831 711 (2,542 ) (925 ) Accumulated other comprehensive (loss) income (561 ) (563 ) (48 ) 611 (561 ) Total (deficit) equity of our common shareholder (82 ) 1,268 663 (1,931 ) (82 ) Noncontrolling interests — — 12 — 12 Total (deficit) equity (82 ) 1,268 675 (1,931 ) (70 ) Total liabilities and (deficit) equity $ 4,941 $ 7,789 $ 1,948 $ (5,576 ) $ 9,102
Condensed consolidating statement of cash flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (in millions) Three Months Ended June 30, 2015 Parent Guarantors Non- Guarantors Eliminations Consolidated OPERATING ACTIVITIES Net cash used in operating activities $ (111 ) $ (57 ) $ (108 ) $ (12 ) $ (288 ) INVESTING ACTIVITIES Capital expenditures — (120 ) (9 ) — (129 ) Proceeds (outflows) from investment in and advances to affiliates, net 16 (1 ) (45 ) 29 (1 ) (Outflows) proceeds from settlement of other undesignated derivative instruments, net (11 ) 3 1 — (7 ) Net cash provided by (used in) investing activities 5 (118 ) (53 ) 29 (137 ) FINANCING ACTIVITIES Proceeds from issuance of long-term and short-term borrowings — third parties 60 45 34 — 139 Principal payments of long-term and short-term borrowings — third parties (1 ) (60 ) (7 ) — (68 ) — related parties — (45 ) — 45 — Revolving credit facilities and other, net — third parties 12 160 10 — 182 — related parties 45 29 — (74 ) — Intercompany dividends — (12 ) — 12 — Debt issuance costs (10 ) — — — (10 ) Net cash provided by financing activities 106 117 37 (17 ) 243 Net decrease in cash and cash equivalents — (58 ) (124 ) — (182 ) Effect of exchange rate changes on cash — 3 7 — 10 Cash and cash equivalents — beginning of period 4 365 259 — 628 Cash and cash equivalents — end of period $ 4 $ 310 $ 142 $ — $ 456 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (in millions) Three Months Ended June 30, 2014 Parent Guarantors Non- Guarantors Eliminations Consolidated OPERATING ACTIVITIES Net cash (used in) provided by operating activities $ (79 ) $ 67 $ 3 $ (15 ) $ (24 ) INVESTING ACTIVITIES Capital expenditures (4 ) (114 ) (20 ) — (138 ) Proceeds from the sale of assets, net of transaction fees — third parties 29 5 — — 34 Proceeds (outflow) from investment in and advances to affiliates, net 235 (16 ) — (235 ) (16 ) Proceeds (outflow) from settlement of other undesignated derivative instruments, net 3 (9 ) 7 — 1 Net cash provided by (used in) investing activities 263 (134 ) (13 ) (235 ) (119 ) FINANCING ACTIVITIES Proceeds from issuance of long-term and short-term borrowings — third parties — 95 10 — 105 — related parties — 500 3 (503 ) — Principal payments of long-term and short-term borrowings — third parties (5 ) (35 ) (13 ) — (53 ) — related parties — (17 ) — 17 — Revolving credit facilities and other, net — third parties 71 96 (1 ) — 166 — related parties — (721 ) — 721 — Return of capital to our common shareholder (250 ) — — — (250 ) Intercompany dividends — (15 ) — 15 — Net cash used in financing activities (184 ) (97 ) (1 ) 250 (32 ) Net decrease in cash and cash equivalents — (164 ) (11 ) — (175 ) Effect of exchange rate changes on cash — (1 ) 4 — 3 Cash and cash equivalents — beginning of period 4 372 133 — 509 Cash and cash equivalents — end of period $ 4 $ 207 $ 126 $ — $ 337

Business and Summary of Signi45

Business and Summary of Significant Accounting Policies (Details) - Jun. 30, 2015	countrycontinentplant
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of countries Company operates in | country	11
Numer of continents Company operates in | continent	4
Number of operating plants	25
Number of plants with recycling operations	11

Restructuring and Impairment (R

Restructuring and Impairment (Restructuring Liability) (Details) - USD ($) $ in Millions		3 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Total restructuring liabilities
Balance, beginning of period		$ 32
Expenses		14
Cash payments		(10)
Foreign currency translation and other		1
Balance, end of period		37
Other restructuring charges	[1]	1
Total restructuring charges		15
Other impairments	[2]	0
Total restructuring and impairments, net		$ 15	$ 6
[1]	(A)Other restructuring charges include period expenses that were not recorded through the restructuring liability.
[2]	Other impairment charges not related to a restructuring activity.

Restructuring and Impairment (D

Restructuring and Impairment (Details) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
		Jun. 30, 2015	Mar. 31, 2015	Mar. 31, 2014
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 15
Cash payments		(10)
Foreign currency translation and other		1
Europe [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		1	$ 3	$ 43
Cash payments		(2)	(12)
Europe [Member] | Severance [Member]
Restructuring Cost and Reserve [Line Items]
Cash payments		(2)	(12)
Europe [Member] | Severance [Member] | Business Optimization [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		1	3	42
Europe [Member] | Pension Settlement Loss [Member] | Business Optimization [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	[1]	0	0	1
South America [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		2	31	48
Cash payments		(2)	(16)
South America [Member] | Severance [Member]
Restructuring Cost and Reserve [Line Items]
Cash payments		(1)	(12)
South America [Member] | Severance [Member] | Ouro Preto Smelter Closures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		1	14	5
South America [Member] | Severance [Member] | Other Part Restructuring Programs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		0	1	20
South America [Member] | Asset Impairments [Member] | Ouro Preto Smelter Closures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	[1]	0	5	1
South America [Member] | Environmental Charges [Member] | Ouro Preto Smelter Closures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		0	6	16
South America [Member] | Contract Termination and Other Exit Related Costs [Member] | Ouro Preto Smelter Closures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		1	5	6
South America [Member] | Other [Member]
Restructuring Cost and Reserve [Line Items]
Cash payments		(1)	(4)
Corporate [Member]
Restructuring Cost and Reserve [Line Items]
Cash payments		(6)	(1)
Corporate [Member] | Corporate Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		12	0	0
Corporate [Member] | Severance [Member]
Restructuring Cost and Reserve [Line Items]
Cash payments		(6)	0
Corporate [Member] | Severance [Member] | Corporate Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		11	0	0
Corporate [Member] | Asset Impairments [Member] | Corporate Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	[1]	1	0	$ 0
Corporate [Member] | Other [Member]
Restructuring Cost and Reserve [Line Items]
Cash payments		$ 0	$ (1)
[1]	These charges were not recorded through the restructuring liability.

Restructuring and Impairment 48

Restructuring and Impairment (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment, net	$ 15	$ 6
Restructuring liability	37		$ 32
Accrued expenses and other current liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring liabilities, short-term	21
Other long-term liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring liabilities, long-term	16
North America [Member] | Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring liability	1
Europe [Member] | Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring liability	5
South America [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring liability	26
South America [Member] | Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring liability	1
South America [Member] | Environmental Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring liability	18
South America [Member] | Certain Labor Related Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring liability	1
South America [Member] | Other Exit Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring liability	6
Corporate [Member] | Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring liability	$ 5

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2015	Mar. 31, 2015
Schedule of inventories
Finished goods	$ 375	$ 358
Work in process	529	531
Raw materials	492	419
Supplies	130	123
Inventories	$ 1,526	$ 1,431

Assets Held For Sale Assets Hel

Assets Held For Sale Assets Held For Sale (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2015	Mar. 31, 2015
Long Lived Assets Held-for-sale [Line Items]
Total assets held for sale		$ 5	$ 6
Gain on assets held for sale	$ 11
South America [Member]
Long Lived Assets Held-for-sale [Line Items]
Total assets held for sale		$ 5	$ 6
Gain on assets held for sale	4
North America [Member]
Long Lived Assets Held-for-sale [Line Items]
Gain on assets held for sale	$ 7

Consolidation (Details)

Consolidation (Details) - USD ($) $ in Millions	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Mar. 31, 2014
Current assets
Cash and cash equivalents	$ 456	$ 628	$ 337	$ 509
Inventories	1,526	1,431
Prepaid expenses and other current assets	130	112
Total current assets	3,780	3,675
Property, plant and equipment, net	3,554	3,542
Goodwill	607	607
Deferred income taxes	111	95
Other long-term assets	125	137
Total assets	9,238	9,102
Current liabilities
Accounts payable	1,817	1,854
Accrued expenses and other current liabilities	506	572
Total current liabilities	3,643	3,593
Accrued postretirement benefits	766	748
Other long–term liabilities	204	221
Total liabilities	9,303	9,172
Variable Interest Entity, Primary Beneficiary [Member]
Current assets
Cash and cash equivalents	5	2
Accounts receivable - third parties	30	40
Inventories	54	52
Prepaid expenses and other current assets	2	1
Total current assets	91	95
Property, plant and equipment, net	16	20
Goodwill	12	12
Deferred income taxes	67	65
Other long-term assets	4	4
Total assets	190	196
Current liabilities
Accounts payable	23	33
Accrued expenses and other current liabilities	13	12
Total current liabilities	36	45
Accrued postretirement benefits	168	166
Other long–term liabilities	1	2
Total liabilities	$ 205	$ 213

Investment In and Advances To52

Investment In and Advances To Non-Consolidated Affiliates and Related Party Transactions (Summary of Results of Operations) (Details) - Equity method investments [Member] - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Summary of the share of the condensed results of operations of equity method affiliates
Net sales	$ 117	$ 138
Costs and expenses related to net sales	118	146
Benefit for taxes on income	(1)	(2)
Net loss	0	(6)
Purchases of tolling services from Alunorf	$ 58	$ 69

Investment In and Advances To53

Investment In and Advances To Non-Consolidated Affiliates and Related Party Transactions (Period End Account Balances) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Mar. 31, 2015
Related Party Transaction [Line Items]
Accounts receivable-related parties	$ 55	$ 53
Other long-term assets-related parties	17	15
Accounts payable-related parties	46	44
Alunorf [Member]
Related Party Transaction [Line Items]
Accounts receivable-related parties	55	53
Other long-term assets-related parties	17	15
Accounts payable-related parties	$ 46	$ 44

Investment In and Advances To54

Investment In and Advances To Non-Consolidated Affiliates and Related Party Transactions (Details Textual) € in Millions, $ in Millions	1 Months Ended	3 Months Ended		12 Months Ended
	Mar. 31, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2015USD ($)	Jun. 30, 2015EUR (€)
Investment In and Advances To Non-Consolidated Affiliates and Related Party Transactions [Abstract]
Accounts receivable-related parties		$ 55		$ 53
Alunorf [Member]
Investment In and Advances To Non-Consolidated Affiliates and Related Party Transactions [Abstract]
Interest income on a loan due from a non-consolidated affiliate (less than)		1		1
Accounts receivable-related parties		$ 55		53
Aluminum Norf GmbH [Member]
Investment In and Advances To Non-Consolidated Affiliates and Related Party Transactions [Abstract]
Guarantee as percentage of outstanding debt		50.00%
Maximum exposure for gauranteed obligation | €					€ 6
Aluminum Norf GmbH [Member] | Supplemental Employee Retirement Plan [Member]
Investment In and Advances To Non-Consolidated Affiliates and Related Party Transactions [Abstract]
Maximum exposure for gauranteed obligation		$ 2
Parent Company of Entity [Member]
Investment In and Advances To Non-Consolidated Affiliates and Related Party Transactions [Abstract]
Revenue from related parties (less than)		$ 1	$ 1
Accounts receivable-related parties				$ 1
AV Metals, Inc. [Member]
Investment In and Advances To Non-Consolidated Affiliates and Related Party Transactions [Abstract]
Return of capital to parent company	$ 250

Debt (Details)

Debt (Details) SFr in Millions, BRL in Millions, $ in Millions, ₩ in Billions		Jun. 30, 2015USD ($)	Jun. 30, 2015KRW (₩)	Jun. 30, 2015BRL	Jun. 30, 2015CHF (SFr)	Mar. 31, 2015USD ($)	Dec. 17, 2010USD ($)
Debt Instrument [Line Items]
Long-term debt, Carrying Value		$ 4,541				$ 4,457
Total debt		5,583				5,318
Total debt, Unamortized Carrying Value Adjustment		(21)				(15)
Total debt, carrying value		5,562				5,303
Short-term borrowings		(1,021)				(846)
Current portion of long-term debt		(107)				(108)
Long-term debt, net of current portion, Principal		4,455				4,364
Long-term debt, net of current portion, Carrying Value		$ 4,434				4,349
Short term borrowings [Member]
Debt Instrument [Line Items]
Interest Rates	[1]	3.08%	3.08%	3.08%	3.08%
Long-term debt, Unamortized Carrying Value Adjustments		$ 0				0
Short-term borrowings		$ (1,021)				(846)
Floating Rate Term Loan Facility, due through June 2022 [Member]
Debt Instrument [Line Items]
Interest Rates	[1]	4.00%	4.00%	4.00%	4.00%
Long-term debt, Principal		$ 1,800				1,731
Long-term debt, Unamortized Carrying Value Adjustments	[2]	(19)				(13)
Long-term debt, Carrying Value		$ 1,781				1,718
8.375% Senior Notes, due December 2017 [Member]
Debt Instrument [Line Items]
Interest Rates	[1]	8.375%	8.375%	8.375%	8.375%
Long-term debt, Principal		$ 1,100				1,100
Long-term debt, Unamortized Carrying Value Adjustments		0				0
Long-term debt, Carrying Value		$ 1,100				1,100
Principal amount (in foreign currency)							$ 1,100
8.75% Senior Notes, due December 2020 [Member]
Debt Instrument [Line Items]
Interest Rates	[1]	8.75%	8.75%	8.75%	8.75%
Long-term debt, Principal		$ 1,400				1,400
Long-term debt, Unamortized Carrying Value Adjustments		0				0
Long-term debt, Carrying Value		$ 1,400				1,400
Principal amount (in foreign currency)							$ 1,400
Capital Lease Obligation due through July 2017 [Member]
Debt Instrument [Line Items]
Interest Rates	[1]	3.64%	3.64%	3.64%	3.64%
Long-term debt, Principal		$ 7				9
Long-term debt, Unamortized Carrying Value Adjustments		0				0
Long-term debt, Carrying Value		$ 7				9
Loans due through September 2020 [Member] | Korea [Member]
Debt Instrument [Line Items]
Interest Rates	[1]	2.77%	2.77%	2.77%	2.77%
Long-term debt, Principal		$ 216				192
Long-term debt, Unamortized Carrying Value Adjustments		0				0
Long-term debt, Carrying Value		$ 216				192
Principal amount (in foreign currency) | ₩			₩ 242
Capital Lease Obligation, due December 2019 [Member] | Switzerland [Member]
Debt Instrument [Line Items]
Interest Rates	[1]	7.50%	7.50%	7.50%	7.50%
Capital lease obligation, Principal		$ 28				28
Capital lease obligation, Unamortized Carrying Value Adjustments	[3]	(1)				(1)
Capital lease obligation, Carrying Value		$ 27				27
Capital lease obligation, Principal amount (in swiss francs) | SFr					SFr 26
BNDES Loans due through April 2021 [Member] | Brazil [Member]
Debt Instrument [Line Items]
Interest Rates	[1]	5.91%	5.91%	5.91%	5.91%
Long-term debt, Principal		$ 7				7
Long-term debt, Unamortized Carrying Value Adjustments	[4]	(1)				(1)
Long-term debt, Carrying Value		$ 6				6
Principal amount (in foreign currency) | BRL				BRL 20
Other Debt, due through December 2020 [Member]
Debt Instrument [Line Items]
Interest Rates	[1]	6.19%	6.19%	6.19%	6.19%
Long-term debt, Principal		$ 4				5
Long-term debt, Unamortized Carrying Value Adjustments		0				0
Long-term debt, Carrying Value		$ 4				$ 5
[1]	Interest rates are the fixed or variable rates as specified in the debt instruments (not the effective interest rate) as of June 30, 2015, and therefore, exclude the effects of related interest rate swaps, accretion/amortization of fair value adjustments as a result of purchase accounting in connection with Hindalco's purchase of Novelis and accretion/amortization of debt issuance costs related to the debt exchange completed in fiscal 2009 and the series of refinancing transactions and additional borrowings we completed in fiscal 2011 through 2016. We present stated rates of interest because they reflect the rate at which cash will be paid for future debt service.
[2]	Debt existing at the time of Hindalco's purchase of Novelis was recorded at fair value. In connection with a series of refinancing transactions, a portion of the historical fair value adjustments was allocated to the Term Loan Facility, resulting in carrying value adjustments on this debt obligation. The unamortized carrying value also includes an issuance discount.
[3]	Debt existing at the time of Hindalco's purchase of Novelis was recorded at fair value resulting in carrying value adjustments to our capital lease obligations in Novelis Switzerland.
[4]	The unamortized carrying value includes issuance discounts related to the difference resulting from the contractual rates of interest specified in the instruments that are lower than the market rates of interest upon issuance.

Debt (Principal Repayments) (De

Debt (Principal Repayments) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Mar. 31, 2015
Maturities of long-term debt outstanding
Short-term borrowings and current portion of long-term debt due within one year	$ 1,128
2 years	89
3 years	1,205
4 years	26
5 years	22
Thereafter	3,113
Total debt	$ 5,583	$ 5,318

Debt (Senior Secured Credit Fac

Debt (Senior Secured Credit Facilities) (Details)	Jun. 10, 2015	Oct. 06, 2014USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)
Seven-year Secured Term Loan Credit Facility [Domain]
Debt Instrument [Line Items]
Principal amount			$ 1,800,000,000
Description of variable rate basis	0.0075
Net leverage ratio			4
Number of days preceding maturity date			92 days
Seven-year Secured Term Loan Credit Facility [Domain] | LIBOR [Member]
Debt Instrument [Line Items]
Description of variable rate basis	LIBOR
Basis spread on variable rate	3.25%
15 - Month Subordinated Secured Revolving Facility [Domain]
Debt Instrument [Line Items]
Principal amount			$ 200,000,000
Debt instrument, term			15 months
Four-year Secured Term Loan Credit Facility [Member]
Debt Instrument [Line Items]
Principal amount				$ 1,700,000,000
ABL Facility [Member] | Seven-year Secured Term Loan Credit Facility [Domain]
Debt Instrument [Line Items]
Principal amount			$ 1,800,000,000
Debt instrument, term			7 years
Debt due within one year			$ 18,000,000
Subordinated Debt [Member]
Debt Instrument [Line Items]
Description of variable rate basis	0.0075
Subordinated Debt [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Description of variable rate basis	LIBOR
Subordinated Debt [Member] | Maximum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	3.50%
Subordinated Debt [Member] | Minimum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	3.25%
ABL Revolver [Member]
Debt Instrument [Line Items]
Debt instrument, term		5 years	5 years
Current borrowing capacity		$ 1,200,000,000	$ 1,200,000,000
Description of variable rate basis		LIBOR
Number of days preceding maturity date		90 days
Potential additional borrowing capacity		$ 500,000,000
Debt covenant, minimum fixed charge coverage ratio		1.25
Debt covenant, minimum amount for excess availability under ABL revolver		$ 110,000,000
Debt covenant, percentage applied on lesser of ABL revolver commitment and applicable borrowing base		12.50%
Percentage of the lesser of total revolver commitment to applicable borrowing base		20.00%
ABL Revolver [Member] | Maximum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		2.00%
ABL Revolver [Member] | Maximum [Member] | Prime Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
ABL Revolver [Member] | Minimum [Member]
Debt Instrument [Line Items]
Percentage of the lesser of total revolver commitment to applicable borrowing base		25.00%
ABL Revolver [Member] | Minimum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
ABL Revolver [Member] | Minimum [Member] | Prime Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%

Debt (Short-Term Borrowings) (D

Debt (Short-Term Borrowings) (Details) ¥ in Millions, $ in Millions, ₫ in Billions, ₩ in Billions	Jun. 30, 2015USD ($)	Jun. 30, 2015KRW (₩)	Jun. 30, 2015VND (₫)	Jun. 30, 2015CNY (¥)	Mar. 31, 2015USD ($)
Short-term Debt [Line Items]
Short–term borrowings	$ 1,021				$ 846
Korea [Member] | Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Short–term borrowings	210	₩ 236
China [Member]
Short-term Debt [Line Items]
Short–term borrowings	18			¥ 110
Remaining borrowing capacity	7			¥ 41
Middle East and Africa [Member] | Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Short–term borrowings	20
ABL Revolver [Member]
Short-term Debt [Line Items]
Letters of credit outstanding amount	6
Remaining borrowing capacity	271
Subordinated Debt [Member]
Short-term Debt [Line Items]
Remaining borrowing capacity	200
Short-term Loan [Member] | ABL Revolver [Member]
Short-term Debt [Line Items]
Short–term borrowings	788
Novelis Brazil Loan [Member] | Brazil [Member]
Short-term Debt [Line Items]
Short–term borrowings	153
Novelis Korea Bank Loan [Member] | Korea [Member]
Short-term Debt [Line Items]
Short–term borrowings	51	₩ 58
Novelis Vietnam Loan [Member] | Vietnam [Member]
Short-term Debt [Line Items]
Short–term borrowings	10		₫ 228
Bank Overdrafts [Member]
Short-term Debt [Line Items]
Short–term borrowings	$ 1

Debt (Senior Notes) (Details)

Debt (Senior Notes) (Details) - Dec. 17, 2010 - USD ($)	Total
Debt Instrument [Line Items]
Aggregate principal amount	$ 100,000,000
8.375% Senior Notes, due December 2017 [Member]
Debt Instrument [Line Items]
Principal amount	$ 1,100,000,000
Stated interest rate	8.375%
8.75% Senior Notes, due December 2020 [Member]
Debt Instrument [Line Items]
Principal amount	$ 1,400,000,000
Stated interest rate	8.75%

Debt (Korean Bank Loans) (Detai

Debt (Korean Bank Loans) (Details) - Jun. 30, 2015 - Novelis Korea Bank Loan [Member] - USD ($) $ in Millions	Total
Debt Instrument [Line Items]
Long-term debt, current maturities	$ 77
Korea 91-day CD rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	0.80%
Korea 91-day CD rate [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.58%

Debt Debt (Brazil BNDES Loans)

Debt Debt (Brazil BNDES Loans) (Details) $ in Millions	Jun. 30, 2015USD ($)
BNDES Loans due February 2015 through April 2021 [Member]
Debt Instrument [Line Items]
Long-term debt, current maturities	$ 2

Debt (Other Long-term Debt) (De

Debt (Other Long-term Debt) (Details) SFr in Millions, $ in Millions	1 Months Ended
	Dec. 31, 2004USD ($)	Dec. 31, 2004CHF (SFr)	Jun. 30, 2015USD ($)
Other Debt [Member]
Debt Instrument [Line Items]
Other debt, including certain capital lease obligations			$ 4
Alcan [Member]
Debt Instrument [Line Items]
Capital lease term	15 years	15 years
Weighted average interest rate	7.50%	7.50%
Quarterly capital lease payments	$ 1.8	SFr 1.7

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
2010 LTIP [Member]
Share-based Compensation Costs [Line Items]
Total compensation expense	$ (7)	$ 4

Share-Based Compensation (RSUs

Share-Based Compensation (RSUs Activity) (Details)	3 Months Ended
	Jun. 30, 2015shares
RSUs [Member]
Number of RSUs
Granted (shares)	1,780,370

Share-Based Compensation (SARs

Share-Based Compensation (SARs Activity) (Details)	3 Months Ended
	Jun. 30, 2015shares
SARs [Member] | Hindalco SARs [Member]
Number of SARs
Granted (shares)	6,203,196

Share-Based Compensation (Det66

Share-Based Compensation (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Share Based Compensation [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Total Share-based Liabilities Paid		$ 5	$ 1
Two Zero One Zero LTIP [Member]
Share Based Compensation [Abstract]
Allocated Share-based Compensation Expense	$ (7)	4
SARs [Member]
Share Based Compensation [Abstract]
Vesting rate	25.00%
Expiration period (years)	7 years
Unrecognized compensation expense, weighted average period of recognition (years)	2 years 3 months
SARs [Member] | Hindalco SARs [Member]
Share Based Compensation [Abstract]
Unrecognized compensation expense	$ 8
Unrecognized compensation expense, weighted average period of recognition (years)	2 years 1 month
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	6,203,196
SARs [Member] | Novelis SARs [Member]
Share Based Compensation [Abstract]
Unrecognized compensation expense	$ 16
RSUs [Member]
Share Based Compensation [Abstract]
Vesting period (years)	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Total Share-based Liabilities Paid	$ 5	$ 2
Unrecognized compensation expense	$ 6
Unrecognized compensation expense, weighted average period of recognition (years)	1 year 11 months
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	1,780,370

Postretirement Benefit Plans (C

Postretirement Benefit Plans (Components of Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Pension Benefit Plans [Member]
Components of net periodic benefit cost for postretirement benefit plans
Service cost	$ 12	$ 11
Interest cost	15	17
Expected return on assets	(17)	(17)
Amortization — losses, net	9	6
Amortization — prior service credit, net	(1)	(1)
Defined Benefit Plan, Curtailments	0	1
Net periodic benefit cost	18	17
Other Benefit Plans [member]
Components of net periodic benefit cost for postretirement benefit plans
Service cost	1	1
Interest cost	1	1
Expected return on assets	0	0
Amortization — losses, net	1	2
Amortization — prior service credit, net	(7)	(10)
Defined Benefit Plan, Curtailments	0	(2)
Net periodic benefit cost	$ (4)	$ (8)

Postretirement Benefit Plans (E

Postretirement Benefit Plans (Employer Contributions to Plans) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Compensation and Retirement Disclosure [Abstract]
Additional Contributions To Funded Pension Plan	$ 24
Contributions to employee benefit plans
Funded pension plans	3	$ 4
Unfunded pension plans	2	1
Savings and defined contribution pension plans	7	6
Total contributions	12	$ 11
Additional Contributions To Unfunded Pension Plan	7
Additional Contributions To Savings And Defined Contribution Plans	$ 15

Postretirement Benefit Plans (D

Postretirement Benefit Plans (Details Textual) - 3 months ended Jun. 30, 2015 - USD ($) $ in Millions	Total
Compensation and Retirement Disclosure [Abstract]
Expected long-term rate of return on plan assets	5.60%
Maximum amortization period of unfunded actuarial liability	15 years
Expected additional contribution to funded pension plan	$ 24
Expected additional contribution to unfunded pension plan	7
Expected additional contribution to savings and defined contribution plans	$ 15

Currency (Gains) Losses (Includ

Currency (Gains) Losses (Included in Other (Income) Expense, Net) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Currency (gains) losses included in other income expense
(Gain) loss on remeasurement of monetary assets and liabilities, net	$ (5)	$ 11
Loss (gain) recognized on balance sheet remeasurement currency exchange contracts, net	1	(11)
Other Operating Income (Expense) [Member]
Currency (gains) losses included in other income expense
Currency gains, net	$ (4)	$ 0

Currency (Gains) Losses (Incl71

Currency (Gains) Losses (Included in AOCI) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015	Mar. 31, 2014
Foreign Currency [Abstract]
Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax And Noncontrolling Interest			$ (214)	$ 90
Cumulative Translation Adjustment Summary Roll Forward
Effect of changes in exchange rates	$ 42	$ (304)
Cumulative currency translation adjustment — end of period	$ (172)	$ (214)

Financial Instruments and Com72

Financial Instruments and Commodity Contracts (Summary of Gross Fair Values of Financial Instruments and Commodity Contracts) (Details) - USD ($) $ in Millions		Jun. 30, 2015	Mar. 31, 2015
Assets
Derivative Assets, Current		$ 128	$ 77
Derivative Asset, Noncurrent	[1]	0	0
Liabilities
Derivative Liabilities, Current		(128)	(149)
Derivative Liabilities, Noncurrent	[1]	(16)	(24)
Net Fair Value Assets/Liabilities		(16)	(96)
Designated as hedging instrument [Member]
Assets
Derivative Assets, Current		33	24
Derivative Asset, Noncurrent	[1]	0	0
Liabilities
Derivative Liabilities, Current		(34)	(54)
Derivative Liabilities, Noncurrent	[1]	(11)	(17)
Net Fair Value Assets/Liabilities		(12)	(47)
Designated as hedging instrument [Member] | Cash flow hedges [Member] | Aluminium Contracts [Member]
Assets
Derivative Assets, Current		29	15
Derivative Asset, Noncurrent	[1]	0	0
Liabilities
Derivative Liabilities, Current		0	(5)
Derivative Liabilities, Noncurrent	[1]	0	0
Designated as hedging instrument [Member] | Cash flow hedges [Member] | Commodity Contract [Member]
Liabilities
Net Fair Value Assets/Liabilities		29	10
Designated as hedging instrument [Member] | Cash flow hedges [Member] | Currency Exchange Contract [Member]
Assets
Derivative Assets, Current		1	4
Derivative Asset, Noncurrent	[1]	0	0
Liabilities
Derivative Liabilities, Current		(29)	(42)
Derivative Liabilities, Noncurrent	[1]	(10)	(15)
Net Fair Value Assets/Liabilities		(38)	(53)
Designated as hedging instrument [Member] | Cash flow hedges [Member] | Energy Related Derivative [Member]
Assets
Derivative Assets, Current		0	0
Derivative Asset, Noncurrent	[1]	0	0
Liabilities
Derivative Liabilities, Current		(5)	(6)
Derivative Liabilities, Noncurrent		(1)	(2)	[1]
Net Fair Value Assets/Liabilities		(6)	(8)
Designated as hedging instrument [Member] | Cash flow hedges [Member] | Interest Rate Swap [Member]
Assets
Derivative Assets, Current			0
Derivative Asset, Noncurrent			0
Liabilities
Derivative Liabilities, Current			(1)
Derivative Liabilities, Noncurrent			0
Net Fair Value Assets/Liabilities			(1)
Designated as hedging instrument [Member] | Net investment hedges [Member] | Currency Exchange Contract [Member]
Assets
Derivative Assets, Current		3	5
Derivative Asset, Noncurrent	[1]	0	0
Liabilities
Derivative Liabilities, Current		0	0
Derivative Liabilities, Noncurrent	[1]	0	0
Net Fair Value Assets/Liabilities			5
Designated as hedging instrument [Member] | Net investment hedges [Member] | Currency exchange contracts [Member]
Liabilities
Net Fair Value Assets/Liabilities		3
Not designated as hedging instrument [Member]
Assets
Derivative Assets, Current		95	53
Derivative Asset, Noncurrent	[1]	0	0
Liabilities
Derivative Liabilities, Current		(94)	(95)
Derivative Liabilities, Noncurrent	[1]	(5)	(7)
Net Fair Value Assets/Liabilities		(4)	(49)
Not designated as hedging instrument [Member] | Aluminium Contracts [Member]
Assets
Derivative Assets, Current		79	24
Derivative Asset, Noncurrent	[1]	0	0
Liabilities
Derivative Liabilities, Current		(41)	(26)
Derivative Liabilities, Noncurrent	[1]	0	0
Not designated as hedging instrument [Member] | Commodity Contract [Member]
Liabilities
Net Fair Value Assets/Liabilities		38	(2)
Not designated as hedging instrument [Member] | Currency Exchange Contract [Member]
Assets
Derivative Assets, Current		14	26
Derivative Asset, Noncurrent	[1]	0	0
Liabilities
Derivative Liabilities, Current		(39)	(54)
Derivative Liabilities, Noncurrent	[1]	0	0
Net Fair Value Assets/Liabilities		(25)	(28)
Not designated as hedging instrument [Member] | Energy Related Derivative [Member]
Assets
Derivative Assets, Current		2	3
Derivative Asset, Noncurrent	[1]	0	0
Liabilities
Derivative Liabilities, Current		(14)	(15)
Derivative Liabilities, Noncurrent	[1]	(5)	(7)
Net Fair Value Assets/Liabilities		$ (17)	$ (19)
[1]	The noncurrent portions of derivative assets and liabilities are included in “Other long-term assets-third parties” and in “Other long-term liabilities”, respectively, in the accompanying condensed consolidated balance sheets

Financial Instruments and Com73

Financial Instruments and Commodity Contracts (Fair Value of Hedges of Metal Price Risk) (Details) - USD ($) $ in Millions		3 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		$ (6)	$ 2
Cash flow hedges [Member]
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		(6)	2
Interest Rate Swap [Member] | Cash flow hedges [Member]
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		0	0
Aluminum forward purchase contracts [Member] | Fair value hedging [Member] | Designated as hedging instrument [Member]
Derivative [Line Items]
Fair Value Hedges of Metal Price Risk, Derivative Contracts		0	1
Fair Value Hedges of Metal Price Risk, Designated Hedged Items		0	(1)
Net Ineffectiveness	[1]	$ 0	$ 0
[1]	Effective portion is recorded in "Net sales" and net ineffectiveness in "Other (income) expense, net."

Financial Instruments and Com74

Financial Instruments and Commodity Contracts (Summary of Notional Amount) (Details) - Mg Mg in Thousands	Jun. 30, 2015	Mar. 31, 2015
Aluminium contracts [Member]
Derivative [Line Items]
Notional amount (in tons)	(412)	(318)
Designated as hedging instrument [Member] | Aluminum forward purchase contracts [Member] | Cash flow hedges [Member]
Derivative [Line Items]
Notional amount (in tons)	4	1
Designated as hedging instrument [Member] | Aluminum forward purchase contracts [Member] | Fair value hedging [Member]
Derivative [Line Items]
Notional amount (in tons)	7	2
Designated as hedging instrument [Member] | Aluminum foward sales contracts [Member] | Cash flow hedges [Member]
Derivative [Line Items]
Notional amount (in tons)	(235)	(285)
Designated as hedging instrument [Member] | Aluminium contracts [Member] | Fair value hedging [Member]
Derivative [Line Items]
Notional amount (in tons)	7	2
Not designated as hedging instrument [Member] | Aluminium contracts [Member]
Derivative [Line Items]
Notional amount (in tons)	(188)	(36)

Financial Instruments and Com75

Financial Instruments and Commodity Contracts (Gain (Loss) Recognition) (Details) - USD ($) $ in Millions		3 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net		$ 44	$ 11
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		(6)	2
Total gain (loss) recognized		32	8
Other Operating Income (Expense) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Balance sheet remeasurement currency exchange contract (losses) gains		(1)	11
Realized losses, net		(8)	(3)
Unrealized gains on other derivative instruments, net (C)		35	1
Total gain (loss) recognized		26	9
Other Operating Income (Expense) [Member] | Not designated as hedging instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) recognized		32	7
Other Operating Income (Expense) [Member] | Designated as hedging instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) recognized	[1]	(6)	2
Other Operating Income (Expense) [Member] | Aluminum Contracts [Member] | Not designated as hedging instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) recognized		31	(7)
Other Operating Income (Expense) [Member] | Currency Exchange Contract [Member] | Not designated as hedging instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) recognized		1	12
Other Operating Income (Expense) [Member] | Energy Contracts [Member] | Not designated as hedging instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) recognized	[2]	0	2
Cash flow hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net		45	11
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		(6)	2
Cash flow hedges [Member] | Aluminum Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net		37	(21)
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		(6)	3
Cash flow hedges [Member] | Currency Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net		8	32
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		0	(1)
Cash flow hedges [Member] | Energy Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net		0	0
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		0	0
Cash flow hedges [Member] | Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net		0	0
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		$ 0	$ 0
[1]	Amount includes: forward market premium/discount excluded from hedging relationship and ineffectiveness on designated aluminum and foreign currency capital expenditure contracts; releases to income from AOCI on balance sheet remeasurement contracts; and ineffectiveness of fair value hedges involving aluminum derivatives
[2]	Includes amounts related to de-designated electricity swap and natural gas swaps not designated as hedges.

Financial Instruments and Com76

Financial Instruments and Commodity Contracts (Summary of the Impact on AOCI and Earnings) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI (Effective Portion)	$ 44	$ 11
Amount of Gain (Loss) Recognized in “Other (Income) Expense, net” (Ineffective and Excluded Portion)	(6)	2
Cash flow hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI (Effective Portion)	45	11
Amount of Gain (Loss) Recognized in “Other (Income) Expense, net” (Ineffective and Excluded Portion)	(6)	2
Cash flow hedges [Member] | Aluminum Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI (Effective Portion)	37	(21)
Amount of Gain (Loss) Recognized in “Other (Income) Expense, net” (Ineffective and Excluded Portion)	(6)	3
Cash flow hedges [Member] | Currency Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI (Effective Portion)	8	32
Amount of Gain (Loss) Recognized in “Other (Income) Expense, net” (Ineffective and Excluded Portion)	0	(1)
Cash flow hedges [Member] | Energy Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI (Effective Portion)	0	0
Amount of Gain (Loss) Recognized in “Other (Income) Expense, net” (Ineffective and Excluded Portion)	0	0
Net Investment Hedging [Member] | Currency Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI (Effective Portion)	(1)	0
Amount of Gain (Loss) Recognized in “Other (Income) Expense, net” (Ineffective and Excluded Portion)	$ 0	$ 0

Financial Instruments and Com77

Financial Instruments and Commodity Contracts (Gain (Loss) Reclassification) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Other (income) expense, net	$ (30)	$ 5
Cost of goods sold	(2,400)	(2,329)
Net sales	2,634	2,680
Income before taxes	(45)	59
Income tax provision	(15)	(24)
Net (loss) income	(60)	35
Cash flow hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Income before taxes	7	0
Income tax provision	(4)	0
Net (loss) income	3	0
Cash flow hedges [Member] | Energy Contracts [Member] | Other expense (income), net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other (income) expense, net	(1)	(1)
Cash flow hedges [Member] | Energy Contracts [Member] | Cost of goods sold [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Cost of goods sold	(2)	1
Cash flow hedges [Member] | Aluminum Contracts [Member] | Cost of goods sold [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Cost of goods sold	13	(6)
Cash flow hedges [Member] | Currency Exchange Contract [Member] | Other expense (income), net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other (income) expense, net	0	1
Cash flow hedges [Member] | Currency Exchange Contract [Member] | Cost of goods sold [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Cost of goods sold	(6)	1
Cash flow hedges [Member] | Currency Exchange Contract [Member] | Net sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net sales	$ 3	$ 4

Financial Instruments and Com78

Financial Instruments and Commodity Contracts (Details Textual) Mg in Thousands, MWh in Millions, MMBTU in Millions, $ in Millions, ₩ in Billions	3 Months Ended
	Jun. 30, 2015USD ($)MgMMBTUMWh	Jun. 30, 2015KRW (₩)MgMMBTUMWh	Mar. 31, 2015USD ($)MgMMBTU	Mar. 31, 2015KRW (₩)MgMMBTU
Financial Instruments And Commodity Contracts [Abstract]
Fair value of swap asset (liability)	$ (16)		$ (96)
Expected reclassification of losses from AOCI to earnings	3
Designated as hedging instrument [Member]
Financial Instruments And Commodity Contracts [Abstract]
Fair value of swap asset (liability)	(12)		(47)
Not designated as hedging instrument [Member]
Financial Instruments And Commodity Contracts [Abstract]
Fair value of swap asset (liability)	$ (4)		$ (49)
Aluminium contracts [Member]
Financial Instruments And Commodity Contracts [Abstract]
Notional amount | Mg	(412)	(412)	(318)	(318)
Aluminium contracts [Member] | Not designated as hedging instrument [Member]
Financial Instruments And Commodity Contracts [Abstract]
Notional amount | Mg	(188)	(188)	(36)	(36)
Aluminum foward sales contracts [Member] | Not designated as hedging instrument [Member]
Financial Instruments And Commodity Contracts [Abstract]
Higher remaining maturity range	6 months
Foreign currency [Member] | Not designated as hedging instrument [Member]
Financial Instruments And Commodity Contracts [Abstract]
Foreign currency, notional amounts	$ 752		$ 868
Fair value of swap asset (liability)	$ (25)		(28)
Electricity swaps [Member] | Not designated as hedging instrument [Member]
Financial Instruments And Commodity Contracts [Abstract]
Notional outstanding | MWh	1	1
Fair value of swap asset (liability)	$ 15		$ (16)
Natural gas swaps [Member]
Financial Instruments And Commodity Contracts [Abstract]
Higher remaining maturity range	1 year
Natural gas swaps [Member] | Designated as hedging instrument [Member]
Financial Instruments And Commodity Contracts [Abstract]
Notional amount | MMBTU	7	7	7	7
Fair value of swap asset (liability)	$ 6		$ 8
Natural gas swaps [Member] | Not designated as hedging instrument [Member]
Financial Instruments And Commodity Contracts [Abstract]
Notional amount | MMBTU	2	2
Fair value of swap asset (liability)	$ (2)		(3)
Interest Rate Swap [Member] | Designated as hedging instrument [Member] | Korean Loans due December 2014 through 2015 [Member]
Financial Instruments And Commodity Contracts [Abstract]
Foreign currency, notional amounts	77	₩ 86	$ 78	₩ 86
Interest rate swaps, hedged amount	$ 77	₩ 86
Derivative, fixed interest rate	3.69%	3.69%
Fair value hedging [Member] | Aluminium contracts [Member] | Designated as hedging instrument [Member]
Financial Instruments And Commodity Contracts [Abstract]
Notional amount | Mg	7	7	2	2
Fair value hedging [Member] | Aluminum forward purchase contracts [Member] | Designated as hedging instrument [Member]
Financial Instruments And Commodity Contracts [Abstract]
Higher remaining maturity range	2 years
Notional amount | Mg	7	7	2	2
Cash flow hedges [Member] | Aluminum forward purchase contracts [Member] | Designated as hedging instrument [Member]
Financial Instruments And Commodity Contracts [Abstract]
Higher remaining maturity range	2 years
Notional amount | Mg	4	4	1	1
Cash flow hedges [Member] | Aluminum foward sales contracts [Member] | Designated as hedging instrument [Member]
Financial Instruments And Commodity Contracts [Abstract]
Higher remaining maturity range	1 year
Notional amount | Mg	(235)	(235)	(285)	(285)
Cash flow hedges [Member] | Foreign currency [Member]
Financial Instruments And Commodity Contracts [Abstract]
Foreign currency, notional amounts	$ 459		$ 590
Cash flow hedges [Member] | Foreign currency [Member] | Designated as hedging instrument [Member]
Financial Instruments And Commodity Contracts [Abstract]
Fair value of swap asset (liability)	(38)		(53)
Cash flow hedges [Member] | Interest Rate Swap [Member] | Designated as hedging instrument [Member]
Financial Instruments And Commodity Contracts [Abstract]
Fair value of swap asset (liability)			(1)
Net investment hedges [Member] | Foreign currency [Member]
Financial Instruments And Commodity Contracts [Abstract]
Foreign currency, notional amounts	$ 26		28
Net investment hedges [Member] | Foreign currency [Member] | Designated as hedging instrument [Member]
Financial Instruments And Commodity Contracts [Abstract]
Fair value of swap asset (liability)			$ 5

Accumulated Other Comprehensi79

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions		3 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Increase (Decrease) in Stockholders' Equity
Balance as of beginning of period		$ (561)	$ (91)
Other comprehensive income (loss) before reclassifications		69	34
Amounts reclassified from AOCI		(2)	(3)
Other comprehensive income, net of tax		67	31
Balance as of end of period		(494)	(60)
Currency Translation [Member]
Increase (Decrease) in Stockholders' Equity
Balance as of beginning of period		(213)	89
Other comprehensive income (loss) before reclassifications		44	26
Amounts reclassified from AOCI		0	0
Other comprehensive income, net of tax		44	26
Balance as of end of period		(169)	115
Cash Flow Hedges [Member]
Increase (Decrease) in Stockholders' Equity
Balance as of beginning of period	[1]	(63)	(20)
Other comprehensive income (loss) before reclassifications	[1]	33	13
Amounts reclassified from AOCI	[1]	(3)	0
Other comprehensive income, net of tax	[1]	30	13
Balance as of end of period	[1]	(33)	(7)
Postretirement Benefit Plans [Member]
Increase (Decrease) in Stockholders' Equity
Balance as of beginning of period	[2]	(285)	(160)
Other comprehensive income (loss) before reclassifications	[2]	(8)	(5)
Amounts reclassified from AOCI	[2]	1	(3)
Other comprehensive income, net of tax	[2]	(7)	(8)
Balance as of end of period	[2]	$ (292)	$ (168)
[1]	For additional information on our cash flow hedges see Note 11 - Financial Instruments and Commodity Contracts.
[2]	For additional information on our postretirement benefit plans see Note 9 - Postretirement Benefit Plans.

Fair Value Measurements (Deriva

Fair Value Measurements (Derivative Assets and Liabilities on Recurring Basis) (Details) - USD ($) $ in Millions		Jun. 30, 2015	Mar. 31, 2015
Derivative assets and liabilities measured and recognized at fair value on recurring basis
Assets		$ 128	$ 77
Liabilities		(144)	(173)
Derivative Asset, Master Netting Adjustment	[1]	(40)	(28)
Derivative Liability, Master Netting Adjustment	[1]	40	28
Derivative Asset		88	49
Derivative Liability		(104)	(145)
Level 2 Instruments [Member]
Derivative assets and liabilities measured and recognized at fair value on recurring basis
Assets		128	77
Liabilities		(129)	(157)
Level 2 Instruments [Member] | Aluminium Contracts [Member]
Derivative assets and liabilities measured and recognized at fair value on recurring basis
Assets		108	39
Liabilities		(41)	(31)
Level 2 Instruments [Member] | Currency Exchange Contract [Member]
Derivative assets and liabilities measured and recognized at fair value on recurring basis
Assets		18	35
Liabilities		(78)	(111)
Level 2 Instruments [Member] | Interest Rate Swaps [Member]
Derivative assets and liabilities measured and recognized at fair value on recurring basis
Assets		0	0
Liabilities		0	(1)
Level 2 Instruments [Member] | Energy Contracts [Member]
Derivative assets and liabilities measured and recognized at fair value on recurring basis
Assets		2	3
Liabilities		(10)	(14)
Level 3 Instruments [Member]
Derivative assets and liabilities measured and recognized at fair value on recurring basis
Assets		0	0
Liabilities		(15)	(16)
Level 3 Instruments [Member] | Energy Contracts [Member]
Derivative assets and liabilities measured and recognized at fair value on recurring basis
Assets		0	0
Liabilities		$ (15)	$ (16)
[1]	Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions with the same counterparties.

Fair Value Measurements (Reconc

Fair Value Measurements (Reconciliation of Fair Value Activity for Level 3 Contracts) (Details) - Level 3 Derivative Instruments [Member] $ in Millions		3 Months Ended
		Jun. 30, 2015USD ($)
Reconciliation of fair value activity for Level 3 derivative contracts
Balance as of March 31, 2015	[1]	$ (16)
Realized/unrealized gain included in earnings	[1],[2]	1
Settlements	[1]	0
Balance as of June 30, 2015	[1]	$ (15)
[1]	Represents net derivative liabilities.
[2]	Included in “Other (income) expense, net.”

Fair Value Measurements (Financ

Fair Value Measurements (Financial Instruments Not Recorded at Fair Value) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Mar. 31, 2015
Assets
Other long-term assets-related parties	$ 17	$ 15
Long-term receivables from related parties, fair value	15	15
Liabilities
Total debt - third parties (excluding short term borrowings), carrying value	4,541	4,457
Total debt - third parties (excluding short term borrowings), fair value	$ 4,519	$ 4,659

Fair Value Measurements (Detail

Fair Value Measurements (Details Textual) - Jun. 30, 2015	USD ($)$ / MWh
Fair Value Measurements [Abstract]
Derivatives, unit per hour | $	$ 1
Level 3 Instruments [Member]
Fair Value Measurements [Abstract]
Unrealized losses related to financial instruments | $	$ (1,000,000)
Electricity swaps [Member]
Fair Value Measurements [Abstract]
Average forward price (per megawatt hour)	48
Premium over forward prices in nearby observable market (per megawatt hour)	4
Actual swap settlement price (per megawatt hour)	34
Derivative, Sensitivity Analysis, Change in Valuation per $1 per Megawatt Hour Change in Electricity Price | $	$ 1,000,000

Other Expense (Income), Net (De

Other Expense (Income), Net (Details) - USD ($)		3 Months Ended				12 Months Ended
		Jun. 30, 2015		Jun. 30, 2014		Mar. 31, 2015
Other Income and Expenses [Abstract]
Foreign currency remeasurement gains, net	[1]	$ (4,000,000)		$ 0
Gain on change in fair value of other unrealized derivative instruments, net (B)		(35,000,000)		(1,000,000)
Loss on change in fair value of other realized derivative instruments, net (B)		8,000,000		3,000,000
Loss on sale of assets		1,000,000		1,000,000
Loss on Brazilian tax litigation, net	[2]	1,000,000		2,000,000
Interest income		(2,000,000)		(1,000,000)
Gain on Business Interruption Insurance Recovery		5,000,000	[2]	0	[2]	$ 13,000,000
Other, net		(6,000,000)		(1,000,000)
Other (income) expense, net		$ 30,000,000		$ (5,000,000)
[1]	Includes “(Gain) loss recognized on balance sheet remeasurement currency exchange contracts, net.”
[2]	See Note 16 – Commitments and Contingencies – Brazil Tax and Legal Matters for further details.(D)We experienced an outage at the hotmill in the Logan facility in North America due to an unexpected failure of a motor, which resulted in lost shipments and profits during the fourth quarter of fiscal 2015. A repaired motor was installed and operations at the hotmill resumed, within approximately three weeks of the outage. We recognized gains of $5 million and $13 million during the first quarter of fiscal 2016 and fourth quarter of fiscal 2015, respectively, as partial settlements of the related business interruption recovery claim.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Reconciliation of Canadian statutory tax rates
Pre-tax (loss) income before equity in net loss of non-consolidated affiliates and noncontrolling interests	$ (44)	$ 61
Canadian statutory tax rate	25.00%	25.00%
(Benefit) provision at the Canadian statutory rate	$ (11)	$ 15
Exchange translation items	8	4
Exchange remeasurement of deferred income taxes	2	4
Change in valuation allowances	21	11
Income items not subject to tax	0	(1)
Dividends not subject to tax	(5)	(10)
Tax rate differences on foreign earnings	1	1
Other, net	(1)	0
Income tax provision	$ 15	$ 24
Effective tax rate	(33.00%)	39.00%

Income Taxes (Details Textual)

Income Taxes (Details Textual) $ in Millions	Jun. 30, 2015USD ($)
Income Tax Disclosure [Abstract]
Net deferred tax liability	$ 113
Gross deferred tax assets	1,100
Valuation allowance	551
Maximum amount by which reserves for interest and penalties for unrecognized tax benefits may decrease in the next 12 months	$ 14

Commitments and Contingencies (

Commitments and Contingencies (Details Textual) - USD ($) $ in Millions		3 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015
Loss Contingencies [Line Items]
Estimated range of loss, minimum		$ 0
Estimated range of loss, maximum		60
Accrual for Environmental Loss Contingencies [Abstract]
Accrual for environmental loss contingencies		4
Accrual for environmental loss contingencies, noncurrent		23
Loss Contingency Accrual [Abstract]
Loss on Brazilian tax litigation, net	[1]	$ (1)	$ (2)
Loss Contingency, Settlement Agreement, Period		180 months
Other long-term liabilities [Member]
Accrual for Environmental Loss Contingencies [Abstract]
Accrual for environmental loss contingencies, noncurrent		$ 19		$ 18
Accrued expenses and other current liabilities [Member]
Accrual for Environmental Loss Contingencies [Abstract]
Accrual for environmental loss contingencies, current		4		4
Brazilian Tax Authorities and Other Third Parties [Member]
Loss Contingency Accrual [Abstract]
Settlement liabilities	[2]	14		12
Restructuring Action [Member]
Accrual for Environmental Loss Contingencies [Abstract]
Accrual for environmental loss contingencies		19
Brazil [Member]
Loss Contingency Accrual [Abstract]
Settlement liabilities		75		73
Brazil [Member] | Settlement with Taxing Authority [Member] | Other long-term liabilities [Member]
Loss Contingency Accrual [Abstract]
Settlement liabilities		67		66
Brazil [Member] | Settlement with Taxing Authority [Member] | Accrued expenses and other current liabilities [Member]
Loss Contingency Accrual [Abstract]
Settlement liabilities		8		7
Brazil [Member] | Settlement with Taxing Authority [Member] | Other long-term assets - third parties [Member]
Loss Contingency Accrual [Abstract]
Cash deposits	[3]	$ 3		3
Obligation to Repurchase Inventories Sold [Member]
Loss Contingencies [Line Items]
Other Commitment				$ 206
[1]	See Note 16 – Commitments and Contingencies – Brazil Tax and Legal Matters for further details.(D)We experienced an outage at the hotmill in the Logan facility in North America due to an unexpected failure of a motor, which resulted in lost shipments and profits during the fourth quarter of fiscal 2015. A repaired motor was installed and operations at the hotmill resumed, within approximately three weeks of the outage. We recognized gains of $5 million and $13 million during the first quarter of fiscal 2016 and fourth quarter of fiscal 2015, respectively, as partial settlements of the related business interruption recovery claim.
[2]	(B) The short-term and long-term settlement liabilities are included in "Accrued expenses and other current liabilities" and "Other long-term liabilities", respectively, in our accompanying condensed consolidated balance sheets. (C)In addition to the disputes we have settled under the federal tax dispute settlement program, we are involved in several other unresolved tax and other legal claims in Brazil.
[3]	(A) We have maintained these cash deposits as a result of legal proceedings with Brazil's tax authorities. These deposits, which are included in “Other long-term assets — third parties” in our accompanying condensed consolidated balance sheets, will be expended toward these legal proceedings.

(Selected Segment Financial Inf

(Selected Segment Financial Information) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015
Segment Reporting Information [Line Items]
Investment in and advances to non–consolidated affiliate	$ 464		$ 447
Total assets	9,238		9,102
Net sales	2,634	$ 2,680
Depreciation and amortization	87	89
Income tax provision	15	24
Capital expenditures	129	138
North America [Member]
Segment Reporting Information [Line Items]
Investment in and advances to non–consolidated affiliate	0		0
Total assets	2,800		2,744
Net sales	888	821
Europe [Member]
Segment Reporting Information [Line Items]
Investment in and advances to non–consolidated affiliate	464		447
Total assets	3,158		2,952
Net sales	880	914
Asia [Member]
Segment Reporting Information [Line Items]
Investment in and advances to non–consolidated affiliate	0		0
Total assets	1,578		1,663
Net sales	566	556
South America [Member]
Segment Reporting Information [Line Items]
Investment in and advances to non–consolidated affiliate	0		0
Total assets	1,559		1,588
Net sales	391	420
Intersegment Elimination [Member]
Segment Reporting Information [Line Items]
Investment in and advances to non–consolidated affiliate	0		0
Total assets	143		$ 155
Net sales	(91)	(31)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	2,634	2,680
Depreciation and amortization	87	89
Income tax provision	15	24
Capital expenditures	129	138
Operating Segments [Member] | North America [Member]
Segment Reporting Information [Line Items]
Net sales	886	815
Depreciation and amortization	35	34
Income tax provision	(15)	(9)
Capital expenditures	52	19
Operating Segments [Member] | Europe [Member]
Segment Reporting Information [Line Items]
Net sales	815	880
Depreciation and amortization	25	25
Income tax provision	(6)	12
Capital expenditures	56	89
Operating Segments [Member] | Asia [Member]
Segment Reporting Information [Line Items]
Net sales	533	529
Depreciation and amortization	16	20
Income tax provision	1	3
Capital expenditures	10	20
Operating Segments [Member] | South America [Member]
Segment Reporting Information [Line Items]
Net sales	353	403
Depreciation and amortization	15	17
Income tax provision	17	12
Capital expenditures	8	17
Operating Segments [Member] | Intersegment Elimination [Member]
Segment Reporting Information [Line Items]
Net sales	47	53
Depreciation and amortization	(4)	(7)
Income tax provision	18	6
Capital expenditures	3	(7)
Intersegment Elimination [Member]
Segment Reporting Information [Line Items]
Net sales	0	0
Intersegment Elimination [Member] | North America [Member]
Segment Reporting Information [Line Items]
Net sales	2	6
Intersegment Elimination [Member] | Europe [Member]
Segment Reporting Information [Line Items]
Net sales	65	34
Intersegment Elimination [Member] | Asia [Member]
Segment Reporting Information [Line Items]
Net sales	33	27
Intersegment Elimination [Member] | South America [Member]
Segment Reporting Information [Line Items]
Net sales	38	17
Intersegment Elimination [Member] | Intersegment Elimination [Member]
Segment Reporting Information [Line Items]
Net sales	$ (138)	$ (84)

Segment, Major Customer and M89

Segment, Major Customer and Major Supplier Information (Reconciliation from Segment Income to Consolidated Net Income) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Reconciliation of income from reportable segments to net income attributable to common shareholder
Depreciation and amortization	$ (87)	$ (89)
Interest expense and amortization of debt issuance costs	(80)	(81)
Adjustment to eliminate proportional consolidation	(7)	(8)
Unrealized gains on change in fair value of derivative instruments, net	35	1
Realized gains (losses) on derivative instruments not included in segment income	1	(1)
Gain (Loss) on Disposition of Assets	0	11
Gain on assets held for sale		11
Gains (Losses) on Extinguishment of Debt	(13)	0
Restructuring and impairment, net	(15)	(6)
Loss on sale of fixed assets	(1)	(1)
Other costs, net	(5)	(2)
(Loss) income before income taxes	(45)	59
Income tax provision	15	24
Net (loss) income	(60)	35
Net income attributable to noncontrolling interests	0	0
Net (loss) income attributable to our common shareholder	(60)	35
Operating Segments [Member]
Reconciliation of income from reportable segments to net income attributable to common shareholder
Depreciation and amortization	(87)	(89)
Income tax provision	15	24
Operating Segments [Member] | North America [Member]
Reconciliation of income from reportable segments to net income attributable to common shareholder
Gross profit	42	64
Depreciation and amortization	(35)	(34)
Income tax provision	(15)	(9)
Operating Segments [Member] | Europe [Member]
Reconciliation of income from reportable segments to net income attributable to common shareholder
Gross profit	(9)	79
Depreciation and amortization	(25)	(25)
Income tax provision	(6)	12
Operating Segments [Member] | Asia [Member]
Reconciliation of income from reportable segments to net income attributable to common shareholder
Gross profit	36	37
Depreciation and amortization	(16)	(20)
Income tax provision	1	3
Operating Segments [Member] | South America [Member]
Reconciliation of income from reportable segments to net income attributable to common shareholder
Gross profit	59	55
Depreciation and amortization	(15)	(17)
Income tax provision	17	12
Intersegment Eliminations [Member]
Reconciliation of income from reportable segments to net income attributable to common shareholder
Gross profit	$ (1)	$ 0

Segment, Major Customer and M90

Segment, Major Customer and Major Supplier Information (Information About Major Customers and Primary Supplier) (Details)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Net Sales [Member] | Rexam [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	18.00%	18.00%
Net Sales [Member] | Ball [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	10.00%	11.00%
Purchases [Member] | Rio Tinto Alcan [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	14.00%	15.00%

Segment, Major Customer and M91

Segment, Major Customer and Major Supplier Information (Details Textual) - Jun. 30, 2015	countryplantsegment
Segment Reporting Information [Line Items]
Number of operating segments | segment	4
Number of operating plants	25
Number of plants with recycling operations	11
Number of countries Company operates in | country	11
Number of major customers	2
North America [Member]
Segment Reporting Information [Line Items]
Number of operating plants	8
Number of fully dedicated recycling facilities	2
Number of plants with recycling operations	1
Number of countries Company operates in | country	2
Europe [Member]
Segment Reporting Information [Line Items]
Number of operating plants	10
Number of fully dedicated recycling facilities	2
Number of plants with recycling operations	2
Number of countries Company operates in | country	4
Asia [Member]
Segment Reporting Information [Line Items]
Number of operating plants	5
Number of plants with recycling operations	3
Number of countries Company operates in | country	4
South America [Member]
Segment Reporting Information [Line Items]
Number of operating plants	2

Supplemental Information (Detai

Supplemental Information (Details1) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Supplemental cash flow information
Interest paid	$ 123	$ 127
Income taxes paid	$ 10	$ 39

Supplemental Information (Det93

Supplemental Information (Details Textual) $ in Millions	3 Months Ended
	Jun. 30, 2015USD ($)
Supplemental Cash Flow Elements [Abstract]
Capital expenditures incurred but not yet paid	$ 69

Supplemental Guarantor Inform94

Supplemental Guarantor Information (Condensed Consolidating Statement of Operations) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Supplemental guarantor information statements of operation
Net sales	$ 2,634	$ 2,680
Cost of goods sold (exclusive of depreciation and amortization)	2,400	2,329
Selling, general and administrative expenses	100	108
Depreciation and amortization	87	89
Research and development expenses	13	12
Interest expense and amortization of debt issuance costs	80	81
Gain on assets held for sale, net		(11)
Loss on extinguishment of debt	13	0
Restructuring and impairment, net	15	6
Equity in net loss of non-consolidated affiliates	1	2
Equity in net income of consolidated subsidiaries	0	0
Other (income) expense, net	(30)	5
Total expenses	2,679	2,621
(Loss) income before income taxes	(45)	59
Income tax provision	15	24
Net (loss) income	(60)	35
Net income attributable to noncontrolling interests	0	0
Net (loss) income attributable to our common shareholder	(60)	35
Comprehensive income	5	67
Less: Comprehensive income attributable to noncontrolling interest	(2)	1
Comprehensive income attributable to our common shareholder	7	66
Parent [Member]
Supplemental guarantor information statements of operation
Net sales	166	174
Cost of goods sold (exclusive of depreciation and amortization)	177	172
Selling, general and administrative expenses	(7)	(4)
Depreciation and amortization	5	4
Research and development expenses	0	0
Interest expense and amortization of debt issuance costs	79	80
Gain on assets held for sale, net		(5)
Loss on extinguishment of debt	13
Restructuring and impairment, net	9	0
Equity in net loss of non-consolidated affiliates	0	0
Equity in net income of consolidated subsidiaries	(21)	(90)
Other (income) expense, net	(30)	(20)
Total expenses	225	137
(Loss) income before income taxes	(59)	37
Income tax provision	1	2
Net (loss) income	(60)	35
Net income attributable to noncontrolling interests	0	0
Net (loss) income attributable to our common shareholder	(60)	35
Comprehensive income	7	66
Less: Comprehensive income attributable to noncontrolling interest	0	0
Comprehensive income attributable to our common shareholder	7	66
Guarantors [Member]
Supplemental guarantor information statements of operation
Net sales	2,291	2,235
Cost of goods sold (exclusive of depreciation and amortization)	2,099	1,950
Selling, general and administrative expenses	87	91
Depreciation and amortization	65	64
Research and development expenses	13	12
Interest expense and amortization of debt issuance costs	17	14
Gain on assets held for sale, net		(6)
Loss on extinguishment of debt	0
Restructuring and impairment, net	5	5
Equity in net loss of non-consolidated affiliates	1	2
Equity in net income of consolidated subsidiaries	(6)	(9)
Other (income) expense, net	(25)	4
Total expenses	2,256	2,127
(Loss) income before income taxes	35	108
Income tax provision	13	18
Net (loss) income	22	90
Net income attributable to noncontrolling interests	0	0
Net (loss) income attributable to our common shareholder	22	90
Comprehensive income	78	74
Less: Comprehensive income attributable to noncontrolling interest	0	0
Comprehensive income attributable to our common shareholder	78	74
Non-Guarantors [Member]
Supplemental guarantor information statements of operation
Net sales	633	685
Cost of goods sold (exclusive of depreciation and amortization)	579	621
Selling, general and administrative expenses	20	21
Depreciation and amortization	17	21
Research and development expenses	0	0
Interest expense and amortization of debt issuance costs	2	3
Gain on assets held for sale, net		0
Loss on extinguishment of debt	0
Restructuring and impairment, net	1	1
Equity in net loss of non-consolidated affiliates	0	0
Equity in net income of consolidated subsidiaries	0	0
Other (income) expense, net	7	5
Total expenses	626	672
(Loss) income before income taxes	7	13
Income tax provision	1	4
Net (loss) income	6	9
Net income attributable to noncontrolling interests	0	0
Net (loss) income attributable to our common shareholder	6	9
Comprehensive income	(1)	44
Less: Comprehensive income attributable to noncontrolling interest	(2)	1
Comprehensive income attributable to our common shareholder	1	43
Eliminations [Member]
Supplemental guarantor information statements of operation
Net sales	(456)	(414)
Cost of goods sold (exclusive of depreciation and amortization)	(455)	(414)
Selling, general and administrative expenses	0	0
Depreciation and amortization	0	0
Research and development expenses	0	0
Interest expense and amortization of debt issuance costs	(18)	(16)
Gain on assets held for sale, net		0
Loss on extinguishment of debt	0
Restructuring and impairment, net	0	0
Equity in net loss of non-consolidated affiliates	0	0
Equity in net income of consolidated subsidiaries	27	99
Other (income) expense, net	18	16
Total expenses	(428)	(315)
(Loss) income before income taxes	(28)	(99)
Income tax provision	0	0
Net (loss) income	(28)	(99)
Net income attributable to noncontrolling interests	0	0
Net (loss) income attributable to our common shareholder	(28)	(99)
Comprehensive income	(79)	(117)
Less: Comprehensive income attributable to noncontrolling interest	0	0
Comprehensive income attributable to our common shareholder	$ (79)	$ (117)

Supplemental Guarantor Inform95

Supplemental Guarantor Information (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions		Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Mar. 31, 2014
Current assets
Cash and cash equivalents		$ 456	$ 628	$ 337	$ 509
Accounts receivable, net of allowances
— third parties		1,430	1,289
— related parties		55	53
Inventories		1,526	1,431
Prepaid expenses and other current assets		130	112
Fair value of derivative instruments		128	77
Deferred income tax assets		50	79
Total assets held for sale		5	6
Total current assets		3,780	3,675
Property, plant and equipment, net		3,554	3,542
Goodwill		607	607
Intangible assets, net		580	584
Investment in and advances to non–consolidated affiliate		464	447
Investments in consolidated subsidiaries		0	0
Derivative Asset, Noncurrent	[1]	0	0
Deferred income tax assets		111	95
Other long-term assets
— third parties		125	137
— related parties		17	15
Total assets		9,238	9,102
Current liabilities
Current portion of long–term debt		107	108
Short-term borrowings
— third parties		1,021	846
— related parties		0	0
Accounts payable
— third parties		1,817	1,854
— related parties		46	44
Fair value of derivative instruments		128	149
Accrued expenses and other current liabilities		506	572
0		0	0
Deferred income tax liabilities		18	20
Total current liabilities		3,643	3,593
Long-term debt, net of current portion
— third parties		4,434	4,349
— related parties		0	0
Deferred income tax liabilities		256	261
Accrued postretirement benefits		766	748
Other long–term liabilities		204	221
Total liabilities		$ 9,303	$ 9,172
Commitments and contingencies
Total temporary equity - intercompany		$ 0	$ 0
Shareholder’s deficit
Common stock		0	0
Additional paid–in capital		1,404	1,404
(Accumulated deficit) retained earnings		(985)	(925)
Accumulated other comprehensive (loss) income		(494)	(561)	(60)	(91)
Total deficit of our common shareholder		(75)	(82)
Noncontrolling interests		10	12
Total deficit		(65)	(70)
Total liabilities and deficit		9,238	9,102
Parent [Member]
Current assets
Cash and cash equivalents		4	4	4	4
Accounts receivable, net of allowances
— third parties		33	23
— related parties		435	385
Inventories		41	55
Prepaid expenses and other current assets		8	6
Fair value of derivative instruments		10	19
Deferred income tax assets		0	0
Total assets held for sale		0	0
Total current assets		531	492
Property, plant and equipment, net		92	95
Goodwill		0	0
Intangible assets, net		18	19
Investment in and advances to non–consolidated affiliate		0	0
Investments in consolidated subsidiaries		3,090	3,013
Deferred income tax assets		0	0
Other long-term assets
— third parties		56	57
— related parties		1,170	1,265
Total assets		4,957	4,941
Current liabilities
Current portion of long–term debt		22	22
Short-term borrowings
— third parties		406	394
— related parties		45	0
Accounts payable
— third parties		33	27
— related parties		68	78
Fair value of derivative instruments		48	83
Accrued expenses and other current liabilities		36	99
0		0	0
Deferred income tax liabilities		0	0
Total current liabilities		658	703
Long-term debt, net of current portion
— third parties		4,266	4,205
— related parties		49	49
Deferred income tax liabilities		0	0
Accrued postretirement benefits		31	30
Other long–term liabilities		28	36
Total liabilities		$ 5,032	$ 5,023
Commitments and contingencies
Total temporary equity - intercompany		$ 0	$ 0
Shareholder’s deficit
Common stock		0	0
Additional paid–in capital		1,404	1,404
(Accumulated deficit) retained earnings		(985)	(925)
Accumulated other comprehensive (loss) income		(494)	(561)
Total deficit of our common shareholder		(75)	(82)
Noncontrolling interests		0	0
Total deficit		(75)	(82)
Total liabilities and deficit		4,957	4,941
Guarantors [Member]
Current assets
Cash and cash equivalents		310	365	207	372
Accounts receivable, net of allowances
— third parties		1,143	1,034
— related parties		155	154
Inventories		1,166	1,084
Prepaid expenses and other current assets		97	89
Fair value of derivative instruments		109	55
Deferred income tax assets		42	70
Total assets held for sale		5	6
Total current assets		3,027	2,857
Property, plant and equipment, net		2,583	2,549
Goodwill		596	596
Intangible assets, net		559	562
Investment in and advances to non–consolidated affiliate		464	447
Investments in consolidated subsidiaries		597	597
Deferred income tax assets		61	47
Other long-term assets
— third parties		58	70
— related parties		66	64
Total assets		8,011	7,789
Current liabilities
Current portion of long–term debt		8	8
Short-term borrowings
— third parties		535	381
— related parties		151	122
Accounts payable
— third parties		1,199	1,195
— related parties		448	393
Fair value of derivative instruments		61	62
Accrued expenses and other current liabilities		400	412
0		60	47
Deferred income tax liabilities		18	20
Total current liabilities		2,880	2,640
Long-term debt, net of current portion
— third parties		27	28
— related parties		1,114	1,209
Deferred income tax liabilities		249	254
Accrued postretirement benefits		547	534
Other long–term liabilities		170	175
Total liabilities		$ 4,987	$ 4,840
Commitments and contingencies
Total temporary equity - intercompany		$ 1,681	$ 1,681
Shareholder’s deficit
Common stock		0	0
Additional paid–in capital		0	0
(Accumulated deficit) retained earnings		1,848	1,831
Accumulated other comprehensive (loss) income		(505)	(563)
Total deficit of our common shareholder		1,343	1,268
Noncontrolling interests		0	0
Total deficit		1,343	1,268
Total liabilities and deficit		8,011	7,789
Non-Guarantors [Member]
Current assets
Cash and cash equivalents		142	259	126	133
Accounts receivable, net of allowances
— third parties		254	232
— related parties		237	158
Inventories		322	294
Prepaid expenses and other current assets		25	17
Fair value of derivative instruments		11	9
Deferred income tax assets		8	9
Total assets held for sale		0	0
Total current assets		999	978
Property, plant and equipment, net		879	898
Goodwill		11	11
Intangible assets, net		3	3
Investment in and advances to non–consolidated affiliate		0	0
Investments in consolidated subsidiaries		0	0
Deferred income tax assets		50	48
Other long-term assets
— third parties		11	10
— related parties		0	0
Total assets		1,953	1,948
Current liabilities
Current portion of long–term debt		77	78
Short-term borrowings
— third parties		80	71
— related parties		0	0
Accounts payable
— third parties		585	632
— related parties		39	42
Fair value of derivative instruments		21	10
Accrued expenses and other current liabilities		70	61
0		7	6
Deferred income tax liabilities		0	0
Total current liabilities		879	900
Long-term debt, net of current portion
— third parties		141	116
— related parties		56	56
Deferred income tax liabilities		7	7
Accrued postretirement benefits		188	184
Other long–term liabilities		6	10
Total liabilities		$ 1,277	$ 1,273
Commitments and contingencies
Total temporary equity - intercompany		$ 0	$ 0
Shareholder’s deficit
Common stock		0	0
Additional paid–in capital		0	0
(Accumulated deficit) retained earnings		720	711
Accumulated other comprehensive (loss) income		(54)	(48)
Total deficit of our common shareholder		666	663
Noncontrolling interests		10	12
Total deficit		676	675
Total liabilities and deficit		1,953	1,948
Eliminations [Member]
Current assets
Cash and cash equivalents		0	0	$ 0	$ 0
Accounts receivable, net of allowances
— third parties		0	0
— related parties		(772)	(644)
Inventories		(3)	(2)
Prepaid expenses and other current assets		0	0
Fair value of derivative instruments		(2)	(6)
Deferred income tax assets		0	0
Total assets held for sale		0	0
Total current assets		(777)	(652)
Property, plant and equipment, net		0	0
Goodwill		0	0
Intangible assets, net		0	0
Investment in and advances to non–consolidated affiliate		0	0
Investments in consolidated subsidiaries		(3,687)	(3,610)
Deferred income tax assets		0	0
Other long-term assets
— third parties		0	0
— related parties		(1,219)	(1,314)
Total assets		(5,683)	(5,576)
Current liabilities
Current portion of long–term debt		0	0
Short-term borrowings
— third parties		0	0
— related parties		(196)	(122)
Accounts payable
— third parties		0	0
— related parties		(509)	(469)
Fair value of derivative instruments		(2)	(6)
Accrued expenses and other current liabilities		0	0
0		(67)	(53)
Deferred income tax liabilities		0	0
Total current liabilities		(774)	(650)
Long-term debt, net of current portion
— third parties		0	0
— related parties		(1,219)	(1,314)
Deferred income tax liabilities		0	0
Accrued postretirement benefits		0	0
Other long–term liabilities		0	0
Total liabilities		$ (1,993)	$ (1,964)
Commitments and contingencies
Total temporary equity - intercompany		$ (1,681)	$ (1,681)
Shareholder’s deficit
Common stock		0	0
Additional paid–in capital		0	0
(Accumulated deficit) retained earnings		(2,568)	(2,542)
Accumulated other comprehensive (loss) income		559	611
Total deficit of our common shareholder		(2,009)	(1,931)
Noncontrolling interests		0	0
Total deficit		(2,009)	(1,931)
Total liabilities and deficit		$ (5,683)	$ (5,576)
[1]	The noncurrent portions of derivative assets and liabilities are included in “Other long-term assets-third parties” and in “Other long-term liabilities”, respectively, in the accompanying condensed consolidated balance sheets

Supplemental Guarantor Inform96

Supplemental Guarantor Information (Condensed Consolidating Statement of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
OPERATING ACTIVITIES
Net cash used in operating activities	$ (288)	$ (24)
INVESTING ACTIVITIES
Capital expenditures	(129)	(138)
Proceeds from sales of assets, net of transaction fees - third parties	0	34
Proceeds (outflows) from investment in and advances to affiliates, net	(1)	(16)
(Outflows) proceeds from settlement of other undesignated derivative instruments, net	(7)	1
Net cash used in investing activities	(137)	(119)
Proceeds from issuance of long-term and short-term borrowings
— third parties	139	105
— related parties		0
Principal payments of long-term and short-term borrowings
— third parties	(68)	(53)
— related parties	0	0
Revolving credit facilities and other, net
— third parties	182	166
— related parties	0	0
Return of capital to our common shareholder	0	(250)
Dividends, noncontrolling interest	0	0
Debt issuance costs	(10)	0
Net cash provided by (used in) financing activities	243	(32)
Net increase (decrease) in cash and cash equivalents	(182)	(175)
Effect of exchange rate changes on cash	10	3
Cash and cash equivalents — beginning of period	628	509
Cash and cash equivalents — end of period	456	337
Parent [Member]
OPERATING ACTIVITIES
Net cash used in operating activities	(111)	(79)
INVESTING ACTIVITIES
Capital expenditures	0	(4)
Proceeds from sales of assets, net of transaction fees - third parties		29
Proceeds (outflows) from investment in and advances to affiliates, net	16	235
(Outflows) proceeds from settlement of other undesignated derivative instruments, net	(11)	3
Net cash used in investing activities	5	263
Proceeds from issuance of long-term and short-term borrowings
— third parties	60	0
— related parties		0
Principal payments of long-term and short-term borrowings
— third parties	(1)	(5)
— related parties	0	0
Revolving credit facilities and other, net
— third parties	12	71
— related parties	45	0
Proceeds from issuance of intercompany equity		(250)
Dividends, noncontrolling interest	0	0
Debt issuance costs	(10)
Net cash provided by (used in) financing activities	106	(184)
Net increase (decrease) in cash and cash equivalents	0	0
Effect of exchange rate changes on cash	0	0
Cash and cash equivalents — beginning of period	4	4
Cash and cash equivalents — end of period	4	4
Guarantors [Member]
OPERATING ACTIVITIES
Net cash used in operating activities	(57)	67
INVESTING ACTIVITIES
Capital expenditures	(120)	(114)
Proceeds from sales of assets, net of transaction fees - third parties		5
Proceeds (outflows) from investment in and advances to affiliates, net	(1)	(16)
(Outflows) proceeds from settlement of other undesignated derivative instruments, net	3	(9)
Net cash used in investing activities	(118)	(134)
Proceeds from issuance of long-term and short-term borrowings
— third parties	45	95
— related parties		500
Principal payments of long-term and short-term borrowings
— third parties	(60)	(35)
— related parties	(45)	(17)
Revolving credit facilities and other, net
— third parties	160	96
— related parties	29	(721)
Proceeds from issuance of intercompany equity		0
Dividends, noncontrolling interest	(12)	(15)
Debt issuance costs	0
Net cash provided by (used in) financing activities	117	(97)
Net increase (decrease) in cash and cash equivalents	(58)	(164)
Effect of exchange rate changes on cash	3	(1)
Cash and cash equivalents — beginning of period	365	372
Cash and cash equivalents — end of period	310	207
Non-Guarantors [Member]
OPERATING ACTIVITIES
Net cash used in operating activities	(108)	3
INVESTING ACTIVITIES
Capital expenditures	(9)	(20)
Proceeds from sales of assets, net of transaction fees - third parties		0
Proceeds (outflows) from investment in and advances to affiliates, net	(45)	0
(Outflows) proceeds from settlement of other undesignated derivative instruments, net	1	7
Net cash used in investing activities	(53)	(13)
Proceeds from issuance of long-term and short-term borrowings
— third parties	34	10
— related parties		3
Principal payments of long-term and short-term borrowings
— third parties	(7)	(13)
— related parties	0	0
Revolving credit facilities and other, net
— third parties	10	(1)
— related parties	0	0
Proceeds from issuance of intercompany equity		0
Dividends, noncontrolling interest	0	0
Debt issuance costs	0
Net cash provided by (used in) financing activities	37	(1)
Net increase (decrease) in cash and cash equivalents	(124)	(11)
Effect of exchange rate changes on cash	7	4
Cash and cash equivalents — beginning of period	259	133
Cash and cash equivalents — end of period	142	126
Eliminations [Member]
OPERATING ACTIVITIES
Net cash used in operating activities	(12)	(15)
INVESTING ACTIVITIES
Capital expenditures	0	0
Proceeds from sales of assets, net of transaction fees - third parties		0
Proceeds (outflows) from investment in and advances to affiliates, net	29	(235)
(Outflows) proceeds from settlement of other undesignated derivative instruments, net	0	0
Net cash used in investing activities	29	(235)
Proceeds from issuance of long-term and short-term borrowings
— third parties	0	0
— related parties		(503)
Principal payments of long-term and short-term borrowings
— third parties	0	0
— related parties	45	17
Revolving credit facilities and other, net
— third parties	0	0
— related parties	(74)	721
Proceeds from issuance of intercompany equity		0
Dividends, noncontrolling interest	12	15
Debt issuance costs	0
Net cash provided by (used in) financing activities	(17)	250
Net increase (decrease) in cash and cash equivalents	0	0
Effect of exchange rate changes on cash	0	0
Cash and cash equivalents — beginning of period	0	0
Cash and cash equivalents — end of period	$ 0	$ 0