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Earnings Per Share (Tables) | 9 Months Ended
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Sep. 30, 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):
|  | Third quarter ended September 30, |  |  | Nine months ended September 30, |
|  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
Net income attributable to Alcoa |  | $ | 44 |  |  | $ | 149 |  |  | $ | 379 |  |  | $ | 109 |
Less: preferred stock dividends declared |  |  | 18 |  |  |  | — |  |  |  | 52 |  |  |  | 1 |
Net income available to Alcoa common shareholders – basic |  |  | 26 |  |  |  | 149 |  |  |  | 327 |  |  |  | 108 |
Add: dividends related to mandatory convertible preferred stock |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Add: interest expense related to convertible notes |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net income available to Alcoa common shareholders – diluted |  | $ | 26 |  |  | $ | 149 |  |  | $ | 327 |  |  | $ | 108 |
Average shares outstanding – basic |  |  | 1,281 |  |  |  | 1,177 |  |  |  | 1,241 |  |  |  | 1,150 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  |  | 1 |  |  |  | 8 |  |  |  | 4 |  |  |  | 6 |
Stock and performance awards |  |  | 12 |  |  |  | 12 |  |  |  | 12 |  |  |  | 11 |
Mandatory convertible preferred stock |  |  | — |  |  |  | 8 |  |  |  | — |  |  |  | 3 |
Convertible notes |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Average shares outstanding – diluted |  |  | 1,294 |  |  |  | 1,205 |  |  |  | 1,257 |  |  |  | 1,170 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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