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Preferred and Common Stock (Tables) | 12 Months Ended
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Dec. 31, 2020
Equity [Abstract] |
Schedule of Share Activity | Common Stock Outstanding and Share Activity (number of shares)
Balance at December 31, 2017 |  |  | 481,416,537 |
Issued for stock-based compensation plans |  |  | 1,854,180 |
Balance at December 31, 2018 |  |  | 483,270,717 |
Issued for stock-based compensation plans |  |  | 4,436,830 |
Repurchase and retirement of common stock |  |  | (54,852,364) |
Balance at December 31, 2019 |  |  | 432,855,183 |
Issued for stock-based compensation plans |  |  | 3,896,119 |
Repurchase and retirement of common stock |  |  | (3,844,925) |
Balance at December 31, 2020 |  |  | 432,906,377 |
Accelerated Share Repurchases | The following table provides details for the share repurchases during 2020 and 2019.
| Number of shares |  | Average price |  | Total
August/September 2020 open market repurchase | 2,907,094 |  | $17.36 |  | $51
November 2020 open market repurchase | 937,831 |  | $23.99 |  | $22
2020 Share repurchase total | 3,844,925 |  | $18.98 |  | $73
February 2019 ASR total | 36,434,423 |  | $19.21 |  | $700
May 2019 ASR total | 9,016,981 |  | $22.18 |  | $200
August 2019 ASR total | 7,774,279 |  | $25.73 |  | $200
November 2019 open market repurchase | 1,626,681 |  | $30.74 |  | $50
2019 Share repurchase total | 54,852,364 |  | $20.97 |  | $1,150
Schedule of Activity for Stock Options and Stock Awards | The activity for stock options and stock awards during 2020 was as follows (options and awards in millions):
| Stock options |  | Stock awards
| Number of options |  | Weighted average exercise price |  | Number of awards |  | Weighted average FMV per award
Outstanding, December 31, 2019 | 7 |  |  | $ | 25.75 |  |  | 7 |  |  | $ | 22.05 |
Granted | — |  |  | — |  |  | 6 |  |  | 10.89 |
Exercised | (2) |  |  | 21.65 |  |  | — |  |  | — |
Converted | — |  |  | — |  |  | (4) |  |  | 19.54 |
Expired or forfeited | (1) |  |  | 30.12 |  |  | — |  |  | 19.57 |
Canceled due to Arconic Inc. Separation Transaction(1) | (1) |  |  | 27.85 |  |  | (1) |  |  | 23.84 |
Adjustment due to Arconic Inc. Separation Transaction(2) | — |  |  | 24.35 |  |  | 1 |  |  | 19.10 |
Performance share adjustment | — |  |  | — |  |  | — |  |  | 21.20 |
Outstanding, December 31, 2020 | 3 |  |  | $ | 24.47 |  |  | 9 |  |  | $ | 13.68 |
(1)As a result of the Arconic Inc. Separation Transaction, all stock options and stock awards relating to Arconic Corporation employees were cancelled. (2)As a result of the Arconic Inc. Separation Transaction, all stock options and stock awards relating to Howmet employees were adjusted to reflect the Arconic Inc. Separation Transaction.

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- Definition Tabular disclosure of accelerated share repurchase (ASR) programs. An ASR is a combination of transactions that permits an entity to purchase a targeted number of shares immediately with the final purchase price of those shares determined by an average market price over a fixed period of time. An accelerated share repurchase program is intended to combine the immediate share retirement benefits of a tender offer with the market impact and pricing benefits of a disciplined daily open market stock repurchase program. ASRs can be disclosed as part of stockholders' equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 25 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6405686&loc=d3e22802-112653 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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