Sallie Mae 2005 Annual Report Download - page 197
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SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, except per share amounts, unless otherwise stated)
F-75
20. Quarterly Financial Information (unaudited) (Continued)
2004
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Netinterestincome................................. $ 321,715 $332,607 $312,943 $332,034
Less:provisionsforlosses ........................... 39,818 28,344 10,930 31,974
Net interest income after provisions for losses ......... 281,897 304,263 302,013 300,060
Gains (losses) on derivative and hedging activities, net . . (116,743) 386,147 73,000 506,637
Otherincome...................................... 424,466 483,354 392,463 335,208
Operatingexpenses................................. 208,877 206,051 313,762 387,090
Incometaxes ...................................... 89,278 352,787 97,136 103,488
Minority interest innet earningsofsubsidiaries ........ — — — 1,026
Netincome........................................ 291,465 614,926 356,578 650,301
Preferredstockdividends ........................... 2,886 2,864 2,875 2,876
Net income attributable to common stock ............. $ 288,579 $612,062 $353,703 $647,425
Basicearningspercommonshare .................... $ .65 $ 1.39 $ .81 $ 1.52
Dilutedearningspercommonshare.................. $ .61 $ 1.29 $ .76 $ 1.40