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Earnings per Common Share (Tables)
3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
A reconciliation of the numerators and denominators of the basic and diluted EPS calculations follows.
 
 
Three Months Ended
 
 
March 31,
(In thousands, except per share data)
 
2015
 
2014
Numerator:
 
 
 
 
Net income attributable to SLM Corporation
 
$
47,699

 
$
47,448

Preferred stock dividends
 
4,823

 

Net income attributable to SLM Corporation common stock
 
$
42,876

 
$
47,448

Denominator:
 
 
 
 
Weighted average shares used to compute basic EPS
 
424,428

 
426,717

Effect of dilutive securities:
 
 
 
 
Dilutive effect of stock options, restricted stock and restricted stock units and Employee Stock Purchase Plan ("ESPP") (1)(2)
 
7,874

 
7,933

Weighted average shares used to compute diluted EPS
 
432,302

 
434,650

 
 
 
 
 
Basic earnings per common share attributable to SLM Corporation
 
$
0.10

 
$
0.11

 
 
 
 
 
Diluted earnings per common share attributable to SLM Corporation
 
$
0.10

 
$
0.11



         _________________             
(1) 
Includes the potential dilutive effect of additional common shares that are issuable upon exercise of outstanding stock options, 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 March 31, 2015 and 2014, securities covering approximately 2 million and 3 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive.