Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2015

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):

	First quarter ended March 31,
	2015		2014
Net income (loss) attributable to Alcoa common shareholders	$	195	$	(178	)
Less: preferred stock dividends declared		17		1
Net income (loss) available to Alcoa common shareholders – basic		178		(179	)
Add: dividends related to mandatory convertible preferred stock		—		—
Add: interest expense related to convertible notes		—		—
Net income (loss) available to Alcoa common shareholders – diluted	$	178	$	(179	)
Average shares outstanding – basic		1,221		1,101
Effect of dilutive securities:
Stock options		6		—
Stock and performance awards		11		—
Mandatory convertible preferred stock		—		—
Convertible notes		—		—
Average shares outstanding – diluted		1,238		1,101