Sallie Mae 2009 Annual Report Download - page 221
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19. Income Taxes (Continued)
Income tax expense for the years ended December 31, 2009, 2008, and 2007 consists of:
2009 2008 2007
December 31,
Continuing operations current provision/benefit:
Federal ...................................... $116,323 $ 403,294 $1,013,342
State ........................................ (24,527) 33,553 50,725
Foreign ...................................... 398 678 1,045
Total continuing operations current provision . ........... 92,194 437,525 1,065,112
Continuing operations deferred provision/(benefit):
Federal ...................................... 141,038 (467,919) (632,029)
State ........................................ 5,453 (46,029) (24,327)
Foreign ...................................... (321) (346) (481)
Total continuing operations deferred provision/(benefit) .... 146,170 (514,294) (656,837)
Continuing operations provision for income tax
expense/(benefit) ............................... $238,364 $ (76,769) $ 408,275
Discontinued operations current provision/(benefit):
Federal ...................................... $(159,234) $ (1,885) $ 13,744
State ........................................ (8,886) (817) 3,140
Total discontinued operations current provision/(benefit) . . . (168,120) (2,702) 16,884
Discontinued operations deferred provision/(benefit):
Federal ...................................... 97,908 (75,232) (10,363)
State ........................................ 10,819 (12,871) (2,513)
Total discontinued operations deferred provision/(benefit) . . 108,727 (88,103) (12,876)
Discontinued operations provision for income tax
expense/(benefit) ............................... $ (59,393) $ (90,805) $ 4,008
Provision for income tax expense/(benefit) . . ........... $178,971 $(167,574) $ 412,283
F-94
SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, except per share amounts, unless otherwise stated)