Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Reconciliation of Information Used to Compute Basic and Diluted EPS

The information used to compute basic and diluted EPS attributable to Howmet common shareholders was as follows (shares in millions):

	First quarter ended
	March 31,
	2021		2020
Net income from continuing operations attributable to common shareholders	$	80	$	153
Income from discontinued operations	—		62
Net income attributable to common shareholders	80		215
Less: preferred stock dividends declared	1		1
Net income available to Howmet Aerospace common shareholders - basic and diluted	$	79	$	214
Average shares outstanding - basic	434		435
Effect of dilutive securities:
Stock options	1		1
Stock and performance awards	4		4
Average shares outstanding - diluted	439		440

Schedule of Anti Dilutive Securities Excluded From Computation of Weighted Average Shares Outstanding

The following shares were excluded from the calculation of average shares outstanding – diluted as their effect was anti-dilutive (shares in millions):

	First quarter ended
	March 31,
	2021	2020
Stock options(1)	1	4

(1)The weighted average exercise price per share of options excluded from diluted EPS was $31.86 and $27.65 as of March 31, 2021 and 2020, respectively