Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2016

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

	Third quarter ended September 30,				Nine months ended September 30,
	2016		2015		2016		2015
Net income attributable to Arconic	$	166	$	44	$	317	$	379
Less: preferred stock dividends declared		18		18		52		52
Net income available to Arconic common shareholders – basic		148		26		265		327
Add: interest expense related to convertible notes		2		—		—		—
Add: dividends related to mandatory convertible preferred stock		—		—		—		—
Net income available to Arconic common shareholders – diluted	$	150	$	26	$	265	$	327
Average shares outstanding – basic		438		427		438		414
Effect of dilutive securities:
Stock options		1		—		1		1
Stock and performance awards		5		4		4		4
Convertible notes		9		—		—		—
Mandatory convertible preferred stock		—		—		—		—
Average shares outstanding – diluted		453		431		443		419