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Earnings Per Share (Tables) | 9 Months Ended
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Sep. 30, 2017
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, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Income from continuing operations after income taxes |  | $ | 119 |  |  | $ | 66 |  |  | $ | 653 |  |  | $ | 229 |
Less: Preferred stock dividends declared |  |  | (18 | ) |  |  | (18 | ) |  |  | (53 | ) |  |  | (52 | )
Income from continuing operations available to Arconic common shareholders |  |  | 101 |  |  |  | 48 |  |  |  | 600 |  |  |  | 177 |
Income from discontinued operations after income taxes and noncontrolling interests |  |  | — |  |  |  | 100 |  |  |  | — |  |  |  | 88 |
Net income available to Arconic common shareholders - basic |  |  | 101 |  |  |  | 148 |  |  |  | 600 |  |  |  | 265 |
Add: Interest expense related to convertible notes |  |  | 2 |  |  |  | 2 |  |  |  | 7 |  |  |  | — |
Add: Dividends related to mandatory convertible preferred stock |  |  | — |  |  |  | — |  |  |  | 50 |  |  |  | — |
Net income available to Arconic common shareholders - diluted |  | $ | 103 |  |  | $ | 150 |  |  | $ | 657 |  |  | $ | 265 |
Weighted average shares outstanding - basic |  |  | 442 |  |  |  | 438 |  |  |  | 441 |  |  |  | 438 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  |  | 1 |  |  |  | 1 |  |  |  | 2 |  |  |  | 1 |
Stock and performance awards |  |  | 5 |  |  |  | 5 |  |  |  | 5 |  |  |  | 4 |
Mandatory convertible preferred stock |  |  | — |  |  |  | — |  |  |  | 39 |  |  |  | — |
Convertible notes |  |  | 14 |  |  |  | 9 |  |  |  | 14 |  |  |  | — |
Weighted average shares outstanding - diluted |  |  | 462 |  |  |  | 453 |  |  |  | 501 |  |  |  | 443 |
Schedule of Anti Dilutive Securities Excluded From Computation of Weighted Average Shares Outstanding | The following shares were excluded from the calculation of Weighted average shares outstanding – diluted as their effect was anti-dilutive. (shares in millions)
|  | Third quarter ended September 30, |  |  | Nine months ended September 30, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Mandatory convertible preferred stock |  |  | 39 |  |  |  | 26 |  |  |  | — |  |  |  | 26 |
Convertible notes |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9 |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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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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