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Common Stock
 9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Common Stock Common Stock
On February 19, 2019, the Company entered into an accelerated share repurchase (ASR) agreement with JPMorgan Chase Bank to repurchase $700 of its common stock (the “February 2019 ASR”), pursuant to the share repurchase programs previously authorized by its Board of Directors (the Board). Under the February 2019 ASR, Arconic received an initial delivery of shares on February 21, 2019 and additional shares on April 29, 2019. On May 2, 2019, the Company entered into an ASR agreement with JPMorgan Chase Bank to repurchase $200 of its common stock (the “May 2019 ASR”), pursuant to the share repurchase programs previously authorized by its Board. Under the May 2019 ASR, Arconic received an initial delivery of shares on May 6, 2019 and additional shares on June 12, 2019. On May 14, 2019, the Board authorized an additional share repurchase program of up to $500 of its outstanding common stock. On August 6, 2019, the Company entered into an ASR agreement with Goldman Sachs & Co. LLC (GS) to repurchase $200 of its common stock (the “August 2019 ASR”), pursuant to the share repurchase programs previously authorized by its Board. Under the August 2019 ASR, Arconic received an initial delivery of shares on August 8, 2019 and additional shares on October 3, 2019. All of the shares repurchased during 2019 were immediately retired. After giving effect to the February 2019 ASR, May 2019 ASR, and August 2019 ASR, $400 remains available under the prior authorizations by the Board for share repurchases through the end of 2020.
The following table provides details for the share repurchases during 2019.
Share delivery date
Number of shares
 
Average price
 
Total
February 21, 2019
31,908,831
 
 
 

April 29, 2019
4,525,592
 
 
 

February 2019 ASR total
36,434,423
 
$19.21
 
$700
 
 
 
 
 
 
May 6, 2019
7,455,732
 
 
 

June 12, 2019
1,561,249
 
 
 

May 2019 ASR total
9,016,981
 
$22.18
 
$200
 
 
 
 
 
 
August 8, 2019
6,791,172
 
 
 
 
October 3, 2019(1)
983,107
 
 
 
 
August 2019 ASR total
7,774,279
 
$25.73
 
$200
 
 
 
 
 
 
2019 ASR total
53,225,683
 
$20.67
 
$1,100

(1) 
The term of the August 2019 ASR concluded on September 30, 2019, with GS delivering 983,107 additional shares to Arconic on October 3, 2019.