Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Schedule of 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):

	Second quarter ended				Six months ended
	June 30,				June 30,
	2022		2021		2022		2021
Net income attributable to common shareholders	$	147	$	74	$	278	$	154
Less: preferred stock dividends declared	—		—		1		1
Net income available to Howmet Aerospace common shareholders - basic and diluted	$	147	$	74	$	277	$	153
Average shares outstanding - basic	417		432		418		433
Effect of dilutive securities:
Stock options	—		1		—		1
Stock and performance awards	5		4		5		4
Average shares outstanding - diluted	422		437		423		438