Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Earnings Per Share, Basic and Diluted

The share information used to compute basic and diluted EPS attributable to Arconic common stockholders was as follows (shares in millions):


First quarter ended March 31,	2023	2022
Weighted-average shares outstanding – basic	99.4	105.4
Effect of dilutive share equivalents:
Stock units	2.7	3.0
Stock options	—	0.1
Weighted-average shares outstanding – diluted	102.1	108.5

Anti-dilutive share equivalents:
Stock units	—	—
Stock options*:
In-the-money	—	—
Out-of-the-money	—	—
	—	—

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* 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 March 31, 2023 and March 31, 2022, there were 0.2 million and 0.3 million, respectively, out-of-the-money stock options outstanding with a weighted-average exercise price of $31.19 and $31.48, respectively.