Sallie Mae 2008 Annual Report Download - page 186

11. Stockholders’ Equity (Continued)
Accumulated Other Comprehensive Income
Accumulated other comprehensive income includes the after-tax change in unrealized gains and losses on
investments, unrealized gains and losses on derivatives, and defined benefit pension plans. The following table
presents the cumulative balances of the components of other comprehensive income for the years ended
December 31, 2008, 2007 and 2006.
2008 2007 2006
December 31,
Net unrealized gains (losses) on investments
(1)
............. $ (1,243) $238,772 $340,363
Net unrealized (losses) on derivatives
(2)
................... (93,986) (22,574) (7,570)
Defined benefit pension plans:
Net prior service cost .............................. — — (24)
Net gain ........................................ 18,753 20,166 16,342
Total defined benefit pension plans
(3)
.................... 18,753 20,166 16,318
Total accumulated other comprehensive income............. $(76,476) $236,364 $349,111
(1)
Net of tax benefit of $750 as of December 31, 2008 and a tax expense of $125,473 and $179,244 as of December 31, 2007 and
2006, respectively.
(2)
Net of tax benefit of $53,419, $12,682 and $4,347 as of December 31, 2008, 2007 and 2006, respectively.
(3)
Net of tax expense of $10,967, $11,677 and $8,787 as of December 31, 2008, 2007 and 2006, respectively.
F-66
SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, except per share amounts, unless otherwise stated)