Earnings Per Share (Tables)

12 Months Ended

Dec. 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):

For the year ended December 31,	2022		2021		2020
Net income from continuing operations	$	469	$	258	$	211
Less: preferred stock dividends declared	2		2		2
Net income from continuing operations attributable to common shareholders	467		256		209
Income from discontinued operations	—		—		50
Net income attributable to common shareholders - basic and diluted	$	467	$	256	$	259
Average shares outstanding - basic	416		430		435
Effect of dilutive securities:
Stock and performance awards	5		5		4
Average shares outstanding - diluted	421		435		439

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

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

For the year ended December 31,	2022	2021	2020
Stock options	—	—	1