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Earnings Per Share (Tables) | 6 Months Ended
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Jun. 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 Alcoa common shareholders was as follows (shares in millions):
|  | Second quarter ended June 30, |  |  | Six months ended June 30, |
|  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Net income attributable to Alcoa |  | $ | 135 |  |  | $ | 140 |  |  | $ | 151 |  |  | $ | 335 |
Less: preferred stock dividends declared |  |  | 17 |  |  |  | 17 |  |  |  | 35 |  |  |  | 35 |
Net income available to Alcoa common shareholders – basic |  |  | 118 |  |  |  | 123 |  |  |  | 116 |  |  |  | 300 |
Add: interest expense related to convertible notes |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |
Add: dividends related to mandatory convertible preferred stock |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net income available to Alcoa common shareholders – diluted |  | $ | 120 |  |  | $ | 123 |  |  | $ | 116 |  |  | $ | 300 |
Average shares outstanding – basic |  |  | 1,315 |  |  |  | 1,222 |  |  |  | 1,314 |  |  |  | 1,222 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  |  | 2 |  |  |  | 4 |  |  |  | 1 |  |  |  | 5 |
Stock and performance awards |  |  | 11 |  |  |  | 11 |  |  |  | 11 |  |  |  | 11 |
Convertible notes |  |  | 28 |  |  |  | — |  |  |  | — |  |  |  | — |
Mandatory convertible preferred stock |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Average shares outstanding – diluted |  |  | 1,356 |  |  |  | 1,237 |  |  |  | 1,326 |  |  |  | 1,238 |

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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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