Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2014

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,
	2014		2013		2014		2013
Net income attributable to Alcoa common shareholders	$	149	$	24	$	109	$	54
Less: preferred stock dividends declared		—		1		1		2

Net income available to Alcoa common shareholders – basic		149		23		108		52
Add: preferred dividends related to mandatory convertible preferred stock		—		—		—		—
Add: interest expense related to convertible notes		—		—		—		—

Net income available to Alcoa common shareholders – diluted	$	149	$	23	$	108	$	52

Average shares outstanding – basic		1,177		1,070		1,150		1,069
Effect of dilutive securities:
Stock options		8		—		6		1
Stock and performance awards		12		9		11		9
Mandatory convertible preferred stock		8		—		3		—
Convertible notes		—		—		—		—

Average shares outstanding – diluted		1,205		1,079		1,170		1,079