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Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Reconciliation of Information Used to Compute Basic and Diluted EPS

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

 

     Second quarter ended
June 30,		     Six months ended
June 30,		  
     2014      2013     2014     2013  

Net income (loss) attributable to Alcoa common shareholders

    $ 138       $ (119 )    $ (40 )    $ 30   

Less: preferred stock dividends declared

      —           —          1        1   
  

 

 

     

 

 

    

 

 

    

 

 

  

Net income (loss) available to Alcoa common shareholders – basic

      138         (119 )      (41 )      29   

Add: interest expense related to convertible notes

      —           —          —          —     
  

 

 

     

 

 

    

 

 

    

 

 

  

Net income (loss) available to Alcoa common shareholders – diluted

    $ 138       $ (119 )    $ (41 )    $ 29   
  

 

 

     

 

 

    

 

 

    

 

 

  

Average shares outstanding – basic

      1,173         1,069        1,137        1,069   

Effect of dilutive securities:

          

Stock options

      6         —          —          2   

Stock and performance awards

      10         —          —          8   

Convertible notes

      —           —          —          —     
  

 

 

     

 

 

    

 

 

    

 

 

  

Average shares outstanding – diluted

      1,189         1,069        1,137        1,079