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


	First quarter ended March 31,
	2013		2012
Net income attributable to Alcoa common shareholders	$	149	$	94
Less: preferred stock dividends declared		1		1

Net income available to common equity		148		93
Less: dividends and undistributed earnings allocated to participating securities		—		—

Net income available to Alcoa common shareholders – basic		148		93
Add: interest expense related to convertible notes		8		8

Net income available to Alcoa common shareholders – diluted	$	156	$	101

Average shares outstanding – basic		1,069		1,066
Effect of dilutive securities:
Stock options		3		4
Stock and performance awards		8		5
Convertible notes		89		89

Average shares outstanding – diluted		1,169		1,164