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Earnings Per Share (Tables) | 12 Months Ended
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Dec. 31, 2018
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):
For the year ended December 31, | 2018 |  | 2017 |  | 2016
Net income (loss) from continuing operations attributable to Arconic | $ | 642 |  |  | $ | (74 | ) |  | $ | (1,062 | )
Less: preferred stock dividends declared | (2 | ) |  | (53 | ) |  | (69 | )
Income (loss) from continuing operations available to Arconic common shareholders | 640 |  |  | (127 | ) |  | (1,131 | )
Income from discontinued operations after income taxes and noncontrolling interests(1) | — |  |  | — |  |  | 121 |
Net income (loss) available to Arconic common shareholders—basic | 640 |  |  | (127 | ) |  | (1,010 | )
Add: interest expense related to convertible notes | 11 |  |  | — |  |  | — |
Net income (loss) available to Arconic common shareholders - diluted | $ | 651 |  |  | $ | (127 | ) |  | $ | (1,010 | )
Average shares outstanding - basic | 483 |  |  | 451 |  |  | 438 |
Effect of dilutive securities: |  |  |  |  |
Stock options | 1 |  |  | — |  |  | — |
Stock and performance awards | 5 |  |  | — |  |  | — |
Convertible notes | 14 |  |  | — |  |  | — |
Average shares outstanding - diluted | 503 |  |  | 451 |  |  | 438 |
(1) | Calculated from the Statement of Consolidated Operations as Income from discontinued operations after income taxes less Net income from discontinued operations attributable to noncontrolling interests.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following shares were excluded from the calculation of average shares outstanding – diluted as their effect was anti-dilutive (shares in millions).
| 2018 |  | 2017 |  | 2016
Mandatory convertible preferred stock | n/a |  |  | 39 |  |  | 39 |
Convertible notes | — |  |  | 14 |  |  | 14 |
Stock options(1) | 9 |  |  | 11 |  |  | 13 |
Stock awards | — |  |  | 7 |  |  | 8 |
(1) | The average exercise price of options per share was $26.79, $33.32, and $26.93 for 2018, 2017, and 2016, respectively.

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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://fasb.org/us-gaap/role/ref/legacyRef -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://fasb.org/us-gaap/role/ref/legacyRef -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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