Sallie Mae 2005 Annual Report Download - page 151
Download and view the complete annual report
Please find page 151 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
 |
 |
SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, except per share amounts, unless otherwise stated)
F-29
5. Investments (Continued)
December 31, 2004
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Market
Value
Investments
Trading
U.S. Treasury and other U.S. government
agency obligations:
U.S.Treasurysecurities.................... $ 148 $ 7 $ — $ 155
Total investment securitiestrading ............ $ 148 $ 7 $ — $ 155
A
vailable-for-sale
U.S. Treasury and other U.S. government
agency obligations:
U.S.Treasurybackedsecurities............. $ 1,483,102 $ 388,095 $(520) $ 1,870,677
U.S. government-guaranteed securities ...... 155,888 1,709 — 157,597
U.S.Treasurysecurities.................... 103,365 3 (186) 103,182
U.S. government agencies obligations........ 51,446 105 (179) 51,372
State and political subdivisions of the U.S.:
Student loan revenuebonds................ 22,655 493 — 23,148
Other securities:
Certificates of Deposit..................... 550,300 — — 550,300
Asset-backedsecurities.................... 371,553 835 (99) 372,289
Commercial paper ........................ 139,986 — — 139,986
Othersecurities........................... 5,530 42 — 5,572
Total investment securities available-for-sale . . . $2,883,825 $391,282(1) $ (984 ) $ 3,274,123
Restricted Investments
A
vailable-for-sale
U.S. Treasury and other U.S. government
agenciesobligations....................... $ 197,373 $ — $(755) $ 196,618
Third party repurchase agreements............ 143,300 — — 143,300
Guaranteed investment contracts ............. 85,866 — — 85,866
Total available-for-sale restricted investments . . $ 426,539 $ — $ (755) $ 425,784
Held-to-maturity
Guaranteed investment contracts ............. $ 9,031 $ 131 $ (14) $ 9,148
Othersecurities............................. 2,718 — — 2,718
Total held-to-maturity restricted investments . . . $ 11,749 $ 131 $ (14) $ 11,866
(1) Includes unrealized gains totaling $128 million for the investments designated as the hedged items in a SFAS
No. 133 fair value hedge. These gains have been recorded in the “gains (losses) on derivative hedging activities,
net” line on the income statement along with the gain (loss) related to the derivatives hedging such investments.
In addition to the restricted investments detailed above, at December 31, 2005 and 2004 the Company
had restricted cash of $2.8 billion and $1.8 billion, respectively.