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Earnings Per Share (Tables) | 9 Months Ended
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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 |

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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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