The following table displays the computation of basic and diluted earnings (loss) per share of common stock for the three months ended March 31, 2013 and 2012.



	For the Three Months Ended March 31,
	2013			2012
	(Dollars and shares in millions, except per share amounts)
Net income	$	58,685		$	2,718
Less: Net loss attributable to noncontrolling interest	—			1
Net income attributable to Fannie Mae	58,685			2,719
Dividends distributed or available for distribution to senior preferred stockholder⁽¹⁾	(59,368		)	(2,817		)
Net loss attributable to common stockholders	$	(683	)	$	(98	)
Weighted-average common shares outstanding—Basic and Diluted⁽²⁾	5,762			5,761
Loss per share—Basic and Diluted	$	(0.12	)	$	(0.02	)

__________

⁽¹⁾

Represents our required dividend payments to Treasury under the terms of the senior preferred stock purchase agreement, which are calculated based on our net worth as of March 31, 2013 less the applicable capital reserve amount of $3.0 billion for the three months ended March 31, 2013 and an annual dividend rate of 10% on the aggregate liquidation preference for the three months ended March 31, 2012.


⁽²⁾	Includes 4.6 billion for the three months ended March 31, 2013 and 2012 of weighted-average shares of common stock that would be issued upon the full exercise of the warrant issued to Treasury from the date the warrant was issued through March 31, 2013.