v3.22.0.1

Earnings Per Share | 12 Months Ended
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Dec. 31, 2021
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share Basic earnings per share (EPS) amounts are computed by dividing Net (loss) income attributable to Arconic by the weighted-average number of common shares outstanding. Diluted EPS amounts assume the issuance of common stock for all potentially dilutive share equivalents outstanding. Specific to Arconic, such share equivalents consist of outstanding employee stock awards (excluding out-of-the-money stock options – see below). For periods in which the Company generates net income, the diluted weighted-average number of shares include common share equivalents associated with outstanding employee stock awards. For periods in which the Company generates a net loss, common share equivalents are excluded from the diluted weighted-average number of shares as their effect is anti-dilutive. The share information used to compute basic and diluted EPS attributable to Arconic common stockholders was as follows (shares in millions):
|  | 2021 |  | 2020 |  | 2019
Weighted-average shares outstanding – basic |  | 109 |  | 109 |  | 109
Effect of dilutive share equivalents: |  |  |  |  |  |
Stock options |  | — |  |  | — |  |  | — |
Stock units |  | — |  |  | — |  |  | — |
Weighted-average shares outstanding – diluted |  | 109 |  | 109 |  | 109
Anti-dilutive share equivalents: |  |  |  |  |  |
Stock units |  | 3.3 |  |  | 2.6 |  |  | — |
Stock options*: |  |  |  |  |  |
In-the-money |  | 0.1 |  |  | — |  |  | — |
Out-of-the-money |  | — |  |  | — |  |  | — |
|  | 3.4 |  |  | 2.6 |  |  | — |
________________ * Stock options are in-the-money when the respective exercise price of each such option is less than the average market price of the Company’s common stock during the applicable period presented. Conversely, stock options are out-of-the-money when the respective exercise price of each such option is more than the average market price of the Company’s common stock during the applicable period presented. Out-of-the-money stock options never result in common share equivalents for purposes of diluted EPS regardless of whether a company generates net income or a net loss. As of December 31, 2020 there were 0.5 million out-of-the money stock options outstanding with a weighted average exercise price of $33.32. Prior to the Separation Date, Arconic did not have any publicly-traded issued and outstanding common stock or any common share equivalents. Accordingly, in 2019 the EPS included on the accompanying Statement of Consolidated Operations was calculated based on the 109,021,376 shares of Arconic common stock distributed on the Separation Date in connection with the completion of the Separation (see Note A).

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