Sallie Mae 2007 Annual Report Download - page 37
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Item 6. Selected Financial Data
Selected Financial Data 2003-2007
(Dollars in millions, except per share amounts)
The following table sets forth selected financial and other operating information of the Company. The
selected financial data in the table is derived from the consolidated financial statements of the Company. The
data should be read in conjunction with the consolidated financial statements, related notes, and “MANAGE-
MENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERA-
TIONS” included in this Form 10-K.
2007 2006 2005 2004 2003
Operating Data:
Net interest income ........................ $ 1,588 $ 1,454 $ 1,451 $ 1,299 $ 1,326
Net income (loss).......................... (896) 1,157 1,382 1,914 1,534
Basic earnings (loss) per common share, before
cumulative effect of accounting change ........ (2.26) 2.73 3.25 4.36 3.08
Basic earnings (loss) per common share, after
cumulative effect of accounting change ........ (2.26) 2.73 3.25 4.36 3.37
Diluted earnings (loss) per common share, before
cumulative effect of accounting change ........ (2.26) 2.63 3.05 4.04 2.91
Diluted earnings (loss) per common share, after
cumulative effect of accounting change ........ (2.26) 2.63 3.05 4.04 3.18
Dividends per common share ................. .25 .97 .85 .74 .59
Return on common stockholders’ equity ......... (22)% 32% 45% 73% 66%
Net interest margin ........................ 1.26 1.54 1.77 1.92 2.53
Return on assets........................... (.71) 1.22 1.68 2.80 2.89
Dividend payout ratio....................... (11) 37 28 18 19
Average equity/average assets ................. 3.51 3.98 3.82 3.73 4.19
Balance Sheet Data:
Student loans, net.......................... $124,153 $ 95,920 $82,604 $65,981 $50,047
Total assets .............................. 155,565 116,136 99,339 84,094 64,611
Total borrowings .......................... 147,046 108,087 91,929 78,122 58,543
Stockholders’ equity ........................ 5,224 4,360 3,792 3,102 2,630
Book value per common share ................ 7.84 9.24 7.81 6.93 5.51
Other Data:
Off-balance sheet securitized student loans, net .... $ 39,423 $ 46,172 $39,925 $41,457 $38,742
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