Sallie Mae 2001 Annual Report Download - page 14

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Consolidated Balance Sheets
(Dollars and shares in thousands, except per share amounts)
December 31,
2001 2000
Assets
Student loans, net $41,000,870 $37,647,297
Warehousing advances 1,035,906 987,352
Academic facilities financings 732,241 851,168
Investments 5,072,152 5,206,022
Cash and cash equivalents 715,001 734,468
Residual interest and servicing assets 1,859,450 961,252
Other assets 2,458,339 2,404,229
____________________________________________ ____________________________________________
Total assets $52,873,959 $48,791,788
____________________________________________ ____________________________________________
____________________________________________ ____________________________________________
____________________________________________ ____________________________________________
Liabilities
Short-term borrowings $31,064,821 $30,463,988
Long-term notes 17,285,350 14,910,939
Other liabilities 2,851,326 1,787,642
____________________________________________ ____________________________________________
Total liabilities 51,201,497 47,162,569
____________________________________________ ____________________________________________
Commitments and contingencies
Minority interest in subsidiary — 213,883
Stockholders’ equity
Preferred stock, par value $.20 per share, 20,000 shares authorized:
3,300 and 3,300 shares issued, respectively, at stated value of $50 per share 165,000 165,000
Common stock, par value $.20 per share, 375,000 shares authorized:
202,736 and 190,852 shares issued, respectively 40,547 38,170
Additional paid-in capital 805,804 225,211
Unrealized gains on investments and derivatives
(net of tax of $360,876 and $167,624, respectively) 670,199 311,301
Retained earnings 2,068,490 1,810,902
____________________________________________ ____________________________________________
Stockholders’ equity before treasury stock 3,750,040 2,550,584
Common stock held in treasury at cost: 47,241 and 26,707 shares, respectively 2,077,578 1,135,248
____________________________________________ ____________________________________________
Total stockholders’ equity 1,672,462 1,415,336
____________________________________________ ____________________________________________
Total liabilities and stockholders’ equity $52,873,959 $48,791,788
____________________________________________ ____________________________________________
____________________________________________ ____________________________________________
____________________________________________ ____________________________________________
The financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Form 10-K to the
Securities and Exchange Commission.
*USA Education, Inc., will change its name to SLM Corporation effective May 17, 2002.
12
USA Education, Inc.*