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Earnings Per Common Share (Tables)
 12 Months Ended
Dec. 31, 2018
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.
 
 
Years Ended December 31,
(In thousands, except per share data)
 
2018
 
2017
 
2016
Numerator:
 
 
 
 
 
 
Net income
 
$
487,476

 
$
288,934

 
$
250,327

Preferred stock dividends
 
15,640

 
15,714

 
21,204

Net income attributable to SLM Corporation common stock
 
$
471,836

 
$
273,220

 
$
229,123

Denominator:
 
 
 
 
 
 
Weighted average shares used to compute basic EPS
 
435,054

 
431,216

 
427,876

Effect of dilutive securities:
 
 
 
 
 
 
Dilutive effect of stock options, restricted stock, restricted stock units and Employee Stock Purchase Plan (“ESPP”) (1)(2)
 
4,627

 
7,335

 
5,043

Weighted average shares used to compute diluted EPS
 
439,681

 
438,551

 
432,919

 
 
 
 
 
 
 
Basic earnings per common share attributable to SLM Corporation
 
$
1.08

 
$
0.63

 
$
0.54

 
 
 
 
 
 
 
Diluted earnings per common share attributable to SLM Corporation
 
$
1.07

 
$
0.62

 
$
0.53


__________

(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 years ended December 31, 2018, 2017 and 2016, securities covering less than 1 million shares, no shares and approximately 1 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive.