Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2022

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,
	2022		2021
Net income attributable to common shareholders	$	131	$	80
Less: preferred stock dividends declared	1		1
Net income available to Howmet Aerospace common shareholders - basic and diluted	$	130	$	79
Average shares outstanding - basic	419		434
Effect of dilutive securities:
Stock options	—		1
Stock and performance awards	6		4
Average shares outstanding - diluted	425		439

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,
	2022	2021
Stock options(1)	—	1

(1)There were no anti-dilutive shares as of March 31, 2022. The weighted average exercise price per share of options excluded from diluted EPS was $31.86 as of March 31, 2021.