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Earnings Per Share (Tables)
3 Months Ended
Mar. 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):

 

     First quarter ended
March 31,
 
     2014     2013  

Net (loss) income attributable to Alcoa common shareholders

   $ (178   $ 149   

Less: preferred stock dividends declared

     1        1   
  

 

 

   

 

 

 

Net (loss) income available to Alcoa common shareholders – basic

     (179     148   

Add: interest expense related to convertible notes

     —          8   
  

 

 

   

 

 

 

Net (loss) income available to Alcoa common shareholders – diluted

   $ (179   $ 156   
  

 

 

   

 

 

 

Average shares outstanding – basic

     1,101        1,069   

Effect of dilutive securities:

    

Stock options

     —          3   

Stock and performance awards

     —          8   

Convertible notes

     —          89   
  

 

 

   

 

 

 

Average shares outstanding – diluted

     1,101        1,169