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


	Third quarter ended September 30,					Nine months ended September 30,
	2013		2012			2013		2012
Net income (loss) attributable to Alcoa common shareholders	$	24	$	(143	)	$	54	$	(51	)
Less: preferred stock dividends declared		1		1			2		2

Net income (loss) available to common equity		23		(144	)		52		(53	)
Less: dividends and undistributed earnings allocated to participating securities		—		—			—		—

Net income (loss) available to Alcoa common shareholders – basic		23		(144	)		52		(53	)
Add: interest expense related to convertible notes		—		—			—		—

Net income (loss) available to Alcoa common shareholders – diluted	$	23	$	(144	)	$	52	$	(53	)

Average shares outstanding – basic		1,070		1,067			1,069		1,066
Effect of dilutive securities:
Stock options		—		—			1		—
Stock and performance awards		9		—			9		—
Convertible notes		—		—			—		—

Average shares outstanding – diluted		1,079		1,067			1,079		1,066