Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2014

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 Alcoa common shareholders was as follows (shares in millions):

	2014		2013			2012
Net income (loss) attributable to Alcoa common shareholders	$	268	$	(2,285	)	$	191
Less: preferred stock dividends declared		21		2			2
Net income (loss) available to common equity		247		(2,287	)		189
Less: dividends and undistributed earnings allocated to participating securities		-		-			-
Net income (loss) available to Alcoa common shareholders—basic		247		(2,287	)		189
Add: interest expense related to convertible notes		-		-			-
Add: dividends related to mandatory convertible preferred stock		-		-			-
Net income (loss) available to Alcoa common shareholders—diluted	$	247	$	(2,287	)	$	189
Average shares outstanding—basic		1,162		1,070			1,067
Effect of dilutive securities:
Stock options		7		-			3
Stock and performance awards		11		-			6
Convertible notes		-		-			-
Mandatory convertible preferred stock		-		-			-
Average shares outstanding—diluted		1,180		1,070			1,076