Earnings Per Share and Common Stock (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Schedule of 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 in the table below):

	Third quarter ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Net income attributable to common shareholders	$	188	$	80	$	529	$	358
Less: preferred stock dividends declared	1		1		2		2
Net income available to Howmet Aerospace common shareholders - basic and diluted	$	187	$	79	$	527	$	356
Average shares outstanding - basic	412		415		412		417
Effect of dilutive securities:
Stock and performance awards	3		5		5		5
Average shares outstanding - diluted	415		420		417		422

Schedule of Accelerated Share Repurchases

The following table provides details for share repurchases made for the periods presented:

	Number of shares	Average price per share(1)		Total
Q1 2023 open market repurchase	576,629	$	43.36	$	25
Q2 2023 open market repurchase	2,246,294	$	44.52	$	100
Q3 2023 open market repurchase	506,800	$	49.32	$	25
2023 Share repurchases as of September 30, 2023	3,329,723	$	45.05	$	150
Q1 2022 open market repurchase	5,147,307	$	34.00	$	175
Q2 2022 open market repurchase	1,770,271	$	33.89	$	60
Q3 2022 open market repurchase	2,764,846	$	36.17	$	100
2022 Share repurchases as of September 30, 2022	9,682,424	$	34.60	$	335

(1)Excludes commissions cost.