Earnings Per Share and Common Stock (Tables)

9 Months Ended

Sep. 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):

	Third quarter ended				Nine months ended
	September 30,				September 30,
	2024		2023		2024		2023
Net income	$	332	$	188	$	841	$	529
Less: preferred stock dividends declared	1		1		2		2
Net income available to Howmet Aerospace common shareholders - basic and diluted	$	331	$	187	$	839	$	527
Average shares outstanding - basic	408		412		408		412
Effect of dilutive securities:
Stock and performance awards	2		3		3		5
Average shares outstanding - diluted	410		415		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
Q3 2024 open market repurchase	1,061,323	$	94.22	$	100
2024 Share repurchases as of September 30, 2024	4,039,319	$	76.75	$	310
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

(1)Excludes commissions cost.