Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2012

Reconciliation of Information Used to Compute Basic and Diluted EPS

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

	2012		2011		2010
Income from continuing operations attributable to Alcoa common shareholders	$	191	$	614	$	262
Less: preferred stock dividends declared		2		2		2
Income from continuing operations available to common equity		189		612		260
Less: dividends and undistributed earnings allocated to participating securities		-		1		1
Income from continuing operations available to Alcoa common shareholders—basic		189		611		259
Add: interest expense related to convertible notes		-		30		-
Income from continuing operations available to Alcoa common shareholders—diluted	$	189	$	641	$	259
Average shares outstanding—basic		1,067		1,061		1,018
Effect of dilutive securities:
Stock options		3		7		6
Stock and performance awards		6		4		1
Convertible notes		-		89		-
Average shares outstanding—diluted		1,076		1,161		1,025