E. Segment and Geographic Area Information Segment Information Alcoa Corporation is a producer of bauxite, alumina, primary aluminum, and aluminum sheet and the Companys segments are organized by product on a worldwide basis. Segment performance under Alcoa Corporations management reporting system is evaluated based on a number of factors; however, the primary measure of performance is the after-tax operating income (ATOI) of each segment. Certain items such as the impact of LIFO inventory accounting; metal price lag; interest expense; noncontrolling interest; corporate expense (general administrative and selling expenses of operating the corporate headquarters and other global administrative facilities, along with depreciation and amortization on corporate-owned assets); restructuring and other charges; income taxes, including the impact of any discrete tax items, deferred tax valuation allowance adjustments, and other differences between tax rates applicable to the segments and the consolidated effective tax rate; and intersegment profit elimination and other nonoperating items such as foreign currency transaction gains/losses, gains/losses on certain asset sales, and interest income are excluded from segment ATOI. Segment assets exclude, among others, cash and cash equivalents; LIFO reserves; corporate fixed assets; goodwill not allocated to businesses for segment reporting purposes; deferred income taxes; and certain derivative contracts. The accounting policies of the segments are the same as those described in the Summary of Significant Accounting Policies (see Note B). Transactions among segments are established based on negotiation among the parties. Differences between segment totals and Alcoa Corporations consolidated totals for line items not reconciled are in Corporate. Effective January1, 2015, Alcoa Corporation redefined its segments concurrent with an internal reorganization for certain of its businesses. Following this reorganization, Alcoa Corporations operations consist of six reportable se