A reconciliation of the numerators and denominators of the basic and diluted EPS calculations follows.



	Three Months ended September 30,				Nine months ended September 30,
(In thousands, except per share data)	2014		2013		2014		2013
Numerator:
Net income attributable to SLM Corporation	$	82,926	$	49,390	$	174,502	$	198,743
Preferred stock dividends	4,850		—		8,078		—
Net income attributable to SLM Corporation common stock	$	78,076	$	49,390	$	166,424	$	198,743
Denominator:
Weighted average shares used to compute basic EPS	423,079		436,109		424,187		442,208
Effect of dilutive securities:
Dilutive effect of stock options, restricted stock and restricted stock units ⁽¹⁾⁽²⁾	8,525		8,830		8,137		8,229
Weighted average shares used to compute diluted EPS	431,604		444,939		432,324		450,437

Basic earnings per common share attributable to SLM Corporation:	$	0.18	$	0.11	$	0.39	$	0.45

Diluted earnings per common share attributable to SLM Corporation:	$	0.18	$	0.11	$	0.38	$	0.44


⁽¹⁾	Includes the potential dilutive effect of additional common shares that are issuable upon exercise of outstanding stock options, non-vested deferred compensation and restricted stock, restricted stock units, and the outstanding commitment to issue shares under the ESPP, determined by the treasury stock method.

⁽²⁾

For the three months ended September 30, 2014 and 2013, securities covering approximately 3 million and 3 million shares, respectively were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive. For the nine months ended September 30, 2014 and 2013, securities covering approximately 3 million and 4 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive.