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Earnings (Loss) Per Share
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
Loss Per Share
The calculation of income available to common stockholders and earnings per share is based on the underlying premise that all income after payment of dividends on preferred shares is available to and will be distributed to common stockholders. However, as a result of our conservatorship status and the terms of the senior preferred stock, no amounts are available to distribute as dividends to common or preferred stockholders (other than to Treasury as holder of the senior preferred stock).
The following table displays the computation of basic and diluted loss per share of common stock for the three months ended March 31, 2014 and 2013.
 
For the Three Months Ended March 31,
 
2014
 
2013
 
(Dollars and shares in millions, except per share amounts)
Net income attributable to Fannie Mae
 
$
5,325

 
 
 
$
58,685

 
Dividends available for distribution to senior preferred stockholder(1)
 
(5,692
)
 
 
 
(59,368
)
 
Net loss attributable to common stockholders
 
$
(367
)
 
 
 
$
(683
)
 
Weighted-average common shares outstanding—basic and diluted(2)
 
5,762

 
 
 
5,762

 
Loss per share: basic and diluted
 
$
(0.06
)
 
 
 
$
(0.12
)
 
__________
(1) 
Represents our dividend payments to Treasury under the terms of the senior preferred stock. Dividends available for distribution as of March 31, 2014 (relating to the dividend period for the three months ended June 30, 2014) were calculated based on our net worth as of March 31, 2014 less the applicable capital reserve amount of $2.4 billion. Dividends available for distribution as of March 31, 2013 (relating to the dividend period for the three months ended June 30, 2013) were calculated based on our net worth as of March 31, 2013 less the applicable capital reserve amount of $3.0 billion.
(2) 
Includes 4.6 billion 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, 2014.