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Earnings Per Share (Tables) | 9 Months Ended
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Sep. 30, 2021
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 Howmet common shareholders was as follows (shares in millions):
| Third quarter ended |  | Nine months ended
| September 30, |  | September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Net income from continuing operations attributable to common shareholders | $ | 27 |  |  | $ | 36 |  |  | $ | 181 |  |  | $ | 105 |
Income from discontinued operations | — |  |  | — |  |  | — |  |  | 50 |
Net income attributable to common shareholders | 27 |  |  | 36 |  |  | 181 |  |  | 155 |
Less: preferred stock dividends declared | 1 |  |  | 1 |  |  | 2 |  |  | 2 |
Net income available to Howmet Aerospace common shareholders - basic and diluted | $ | 26 |  |  | $ | 35 |  |  | $ | 179 |  |  | $ | 153 |
Average shares outstanding - basic | 429 |  |  | 436 |  |  | 431 |  |  | 436 |
Effect of dilutive securities: |  |  |  |  |  |  |
Stock options | 1 |  |  | — |  |  | 1 |  |  | — |
Stock and performance awards | 4 |  |  | 3 |  |  | 5 |  |  | 4 |
Average shares outstanding - diluted | 434 |  |  | 439 |  |  | 437 |  |  | 440 |
Schedule of Anti Dilutive Securities Excluded From Computation of Weighted Average Shares Outstanding | The following shares were excluded from the calculation of average shares outstanding – diluted as their effect was anti-dilutive (shares in millions):
| Third quarter ended |  | Nine months ended
| September 30, |  | September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Stock options(1) | — |  |  | 3 |  |  | — |  |  | 3 |
(1)The weighted average exercise price per share of options excluded from diluted EPS was $33.61 and $26.03 as of September 30, 2021 and 2020, 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=124432515&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/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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