Sallie Mae 2009 Annual Report Download - page 199

11. Stockholders’ Equity (Continued)
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss) 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, 2009, 2008 and 2007.
2009 2008 2007
December 31,
Net unrealized gains (losses) on investments
(1)
.............. $ 1,629 $ (1,243) $238,772
Net unrealized (losses) on derivatives
(2)
................... (53,899) (93,986) (22,574)
Defined benefit pension plans:
Net gain ........................................ 11,445 18,753 20,166
Total defined benefit pension plans
(3)
..................... 11,445 18,753 20,166
Total accumulated other comprehensive income ............. $(40,825) $(76,476) $236,364
(1)
Net of tax expense of $901 as of December 31, 2009, tax benefit of $750 as of December 31, 2008, and tax expense of
$125,473 as of December 31, 2007.
(2)
Net of tax benefit of $31,129, $53,419 and $12,682 as of December 31, 2009, 2008 and 2007, respectively.
(3)
Net of tax expense of $6,780, $10,967 and $11,677 as of December 31, 2009, 2008 and 2007, respectively.
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SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, except per share amounts, unless otherwise stated)