Sallie Mae 2006 Annual Report Download - page 177
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14. Stockholders’ Equity (Continued)
presented. The following table presents the cumulative balances of the components of other comprehensive
income for the years ended December 31, 2006, 2005 and 2004.
2006 2005 2004
December 31,
Net unrealized gains on investments
(1)
................... $340,363 $382,316 $467,374
Net unrealized (losses) on derivatives
(2)
.................. (7,570) (12,560) (25,658)
Defined benefit pension plans:
Net prior service cost .............................. (24) — —
Net gain ........................................ 16,342 — —
Total defined benefit pension plans
(3)
.................... 16,318 — —
Minimum pension liability
(4)
.......................... — (1,846) (1,044)
Total accumulated other comprehensive income . . . ......... $349,111 $367,910 $440,672
(1)
Net of tax expense of $179,244, $203,495 and $251,178 for the years ended December 31, 2006, 2005 and 2004, respectively.
(2)
Net of tax benefit of $4,347, $4,667 and $12,220 for the years ended December 31, 2006, 2005 and 2004, respectively.
(3)
Net of tax expense of $8,787 for the year ended December 31, 2006.
(4)
Net of tax benefit of $994 and $562 for the years ended December 31, 2005 and 2004, respectively.
F-58
SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, except per share amounts, unless otherwise stated)