Sallie Mae 2009 Annual Report Download - page 133

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SLM CORPORATION
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
(Dollars in thousands, except share and per share amounts)
Preferred
Stock
Shares Issued Treasury Outstanding
Preferred
Stock
Common
Stock
Additional
Paid-In
Capital
Accumulated
Other
Comprehensive
Income (Loss)
Retained
Earnings
Treasury
Stock
Total
Stockholders’
Equity
Noncontrolling
Interest
Total
Equity
Common Stock Shares
Balance at December 31, 2006 . . . 7,300,000 433,112,982 (22,496,170) 410,616,812 $ 565,000 $ 86,623 $2,565,211 $ 349,111 $1,834,718 $(1,040,621) $ 4,360,042 $ 9,115 $ 4,369,157
Comprehensive income:
Net income (loss) .......... (896,394) (896,394) 2,315 (894,079)
Other comprehensive income, net
of tax:
Change in unrealized gains
(losses) on investments, net
oftax.............. (101,591) (101,591) (101,591)
Change in unrealized gains
(losses) on derivatives, net
oftax.............. (15,004) (15,004) (15,004)
Defined benefit pension plans
adjustment ........... 3,848 3,848 3,848
Comprehensive income . . . . .... (1,009,141) 2,315 (1,006,826)
Cash dividends:
Common stock ($.25 per
share) . . . ............ (102,658) (102,658) (102,658)
Preferred stock, Series A ($3.49
per share) . ............ (11,500) (11,500) (11,500)
Preferred stock, Series B ($6.25
per share) . ............ (24,796) (24,796) (24,796)
Preferred stock, Series C ($.20
per share) . ............ (201) (201) (201)
Restricted stock dividend . . . .... (8) (8) (8)
Issuance of common shares . .... 99,380,099 9,816,534 109,196,633 19,876 1,940,708 (235,548) 423,446 2,148,482 2,148,482
Issuance of preferred shares . .... 1,000,000 1,000,000 (30,678) (648) 968,674 968,674
Tax benefit related to employee
stock option and purchase
plans . . . . . ............ 49,016 49,016 49,016
Stock-based compensation cost . . . 65,917 65,917 65,917
Cumulative effect of accounting
change . . . . ............ (5,761) (5,761) (5,761)
Repurchase of common shares:
Open market repurchases . .... (1,809,700) (1,809,700) (65,018) (65,018) (65,018)
Equity forward settlement: ....
Settlement cost, cash . . .... (4,110,929) (4,110,929) (164,437) (164,437) (164,437)
(Gain) loss on settlement .... — — 54,716 54,716 54,716
Equity forwards agreed to be
settled:
Settlement cost, cash . . .... (44,039,890) (44,039,890) (1,992,938) (1,992,938) (1,992,938)
(Gain) loss on settlement .... — — 1,105,975 1,105,975 1,105,975
Benefit plans ............ (3,311,239) (3,311,239) (152,829) (152,829) (152,829)
Contributions . . ............ — 2,947 2,947
Noncontrolling interest — other . . . — (3,017) (3,017)
Balance at December 31, 2007 . . . 8,300,000 532,493,081 (65,951,394) 466,541,687 $1,565,000 $106,499 $4,590,174 $ 236,364 $ 557,204 $(1,831,706) $ 5,223,535 $11,360 $ 5,234,895
See accompanying notes to consolidated financial statements.
F-6