Sallie Mae 2005 Annual Report Download - page 130
Download and view the complete annual report
Please find page 130 of the 2005 Sallie Mae annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130 -
131 -
132 -
133 -
134 -
135 -
136 -
137 -
138 -
139 -
140 -
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
 |
 |
F-8
SLM CORPORATION
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Continued)
(Dollars in thousands, except share and per share amounts)
Accumulated
Preferred Additional Other Total
Stock Common Stock Shares Preferred Common Paid-In Comprehensive Retained Treasury Stockholders’
Shares Issued Treasury Outstanding Stock Stock Capital Income (Loss) Earnings Stock Equity
Balance at December 31, 2004 ...................... 3,300,000 483,266,408 (59,634,019) 423,632,389 $ 165,000 $ 96,654 $ 1,905,460 $ 440,672 $ 2,521,740 $ (2,027,222) $ 3,102,304
Comprehensive income:
Netincome................................. 1,382,284 1,382,284
Other comprehensive income, net of tax:
Change in unrealized gains (losses) on investments, net
oftax.................................. (85,058) (85,058)
Change in unrealized gains (losses) on derivatives, net
oftax.................................. 13,098 13,098
Minimum pension liability adjustment ............. (802) (802)
Comprehensive income .......................... 1,309,522
Cash dividends:
Common stock ($.85 per share) ................... (355,368) (355,368)
Preferred stock, series A ($3.48 per share) ............ (11,511) (11,511)
Preferred stock, series B ($2.28 per share) .............. (10,025) (10,025)
Issuance of common shares........................ 8,217,119 79,122 8,296,241 1,643 264,575 4,097 270,315
Retirement of common stock in treasury ............... (
65,000,000) 65,000,000 — (13,000) (2,415,010) 2,428,010 —
Issuance of preferred shares ....................... 4,000,000 400,000 400,000
Preferred stock issuance costs and related amortization ..... (2,888) (367) (3,255)
Tax benefit related to employee stock option and purchase plan . 66,500 66,500
Repurchase of common shares:
Equity forwards:
Exercise cost, cash........................... (
13,114,120) (13,114,120) (655,433) (655,433)
Exercise cost, net settlement.................... (
4,154,183) (4,154,183) (227,400) (227,400)
Gain on settlement.......................... — — (17,315) (17,315)
Benefit plans.............................. (
1,523,517) (1,523,517) (76,909) (76,909)
Balance at December 31, 2005 ...................... 7,300,000 426,483,527 (13,346,717) 413,136,810 $ 565,000 $ 85,297 $ 2,233,647 $ 367,910 $ 1,111,743 $ (572,172) $ 3,791,425
See accompanying notes to consolidated financial statements.