Earnings Per Share and Common Stock (Tables)

6 Months Ended

Jun. 30, 2024

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):

	Second quarter ended				Six months ended
	June 30,				June 30,
	2024		2023		2024		2023
Net income	$	266	$	193	$	509	$	341
Less: preferred stock dividends declared	—		—		1		1
Net income available to Howmet Aerospace common shareholders - basic and diluted	$	266	$	193	$	508	$	340
Average shares outstanding - basic	408		413		409		413
Effect of dilutive securities:
Stock and performance awards	3		4		2		4
Average shares outstanding - diluted	411		417		411		417

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 2024 open market repurchase	2,243,259	$	66.87	$	150
Q2 2024 open market repurchase	734,737	$	81.66	$	60
2024 Share repurchases as of June 30, 2024	2,977,996	$	70.52	$	210
Q1 2023 open market repurchase	576,629	$	43.36	$	25
Q2 2023 open market repurchase	2,246,294	$	44.52	$	100
2023 Share repurchases as of June 30, 2023	2,822,923	$	44.28	$	125

(1)Excludes commissions cost.