Earnings Per Share and Common Stock (Tables)

9 Months Ended

Sep. 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):

	Third quarter ended				Nine months ended
	September 30,				September 30,
	2022		2021		2022		2021
Net income attributable to common shareholders	$	80	$	27	$	358	$	181
Less: preferred stock dividends declared	1		1		2		2
Net income available to Howmet Aerospace common shareholders - basic and diluted	$	79	$	26	$	356	$	179
Average shares outstanding - basic	415		429		417		431
Effect of dilutive securities:
Stock and performance awards	5		4		5		5
Stock options	—		1		—		1
Average shares outstanding - diluted	420		434		422		437