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(Loss) Earnings Per Share (Notes)
12 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
(Loss) Earnings Per Share
(Loss) Earnings Per Share
The following table displays the computation of basic and diluted (loss) earnings per share of common stock for the years ended December 31, 2013, 2012 and 2011.
 
 
For the Year Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(Dollars and shares in millions, except per share amounts)
Net income (loss)
 
$
83,982

 
$
17,220

 
$
(16,855
)
Less: Net (income) loss attributable to noncontrolling interest
 
(19
)
 
4

 

Net income (loss) attributable to Fannie Mae
 
83,963

 
17,224

 
(16,855
)
Dividends distributed or available for distribution to senior preferred stockholder(1)
 
(85,419
)
 
(15,827
)
 
(9,614
)
Net (loss) income attributable to common stockholders
 
$
(1,456
)
 
$
1,397

 
$
(26,469
)
Weighted-average common shares outstanding—Basic(2)
 
5,762

 
5,762

 
5,737

Convertible preferred stock
 

 
131

 

Weighted-average common shares outstanding—Diluted(2)
 
5,762

 
5,893

 
5,737

(Loss) earnings per share:
 
 
 
 
 
 
Basic
 
$
(0.25
)
 
$
0.24

 
$
(4.61
)
Diluted
 
$
(0.25
)
 
$
0.24

 
$
(4.61
)
__________
(1)
Dividends available for distribution as of December 31, 2013 (relating to the dividend period for the three months ended March 31, 2014) are calculated based on our net worth as of December 31, 2013 less the applicable capital reserve amount of $2.4 billion. For quarterly dividend periods in 2013, dividends distributed were calculated based on our net worth as of the end of the immediately preceding fiscal quarter less the applicable capital reserve amount of $3.0 billion. During the years ended December 31, 2012 and 2011, an annual dividend rate of 10% on the aggregate liquidation preference was used to calculate the dividend.
(2) 
Includes 4.6 billion, 4.7 billion and 4.6 billion for the years ended December 31, 2013, 2012 and 2011, respectively, 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 December 31, 2013, 2012 and 2011, respectively.
In 2012, the terms of the senior preferred stock purchase agreement were amended to ultimately require the payment of our entire net worth to Treasury. On December 31, 2013, we paid Treasury a senior preferred stock dividend of $8.6 billion for the fourth quarter of 2013. By March 31, 2014, we will pay Treasury a senior preferred stock dividend for the first quarter of 2014 of $7.2 billion, which equals the excess of our net worth as of December 31, 2013 over the $2.4 billion capital reserve amount applicable for dividend periods in 2014 under the terms of the senior preferred stock purchase agreement with Treasury.
There was no impact to the numerator of our diluted EPS calculation from the dilutive convertible preferred stock for the year ended December 31, 2013.