Sallie Mae 2010 Annual Report Download - page 111
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SLM CORPORATION
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
(Dollars in thousands, except share and per share amounts)
(Unaudited)
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, 2009 .... 8,110,370 552,219,576 (67,221,942) 484,997,634 $1,375,370 $110,444 $5,090,891 $(40,825) $ 604,467 $(1,861,738) $5,278,609 $ 13 $5,278,622
Comprehensive income:
Net income . ............. 530,382 530,382 530,382
Other comprehensive income, net
of tax:
Change in unrealized gains
(losses) on investments, net of
tax................. 593 593 593
Change in unrealized gains
(losses) on derivatives, net of
tax................. 5,110 5,110 5,110
Defined benefit pension plans
adjustment ............ (9,542) (9,542) (9,542)
Comprehensive income ......... 526,543 526,543
Cash dividends:
Preferred stock, series A ($3.49 per
share) . . . ............. (11,500) (11,500) (11,500)
Preferred stock, series B ($1.05 per
share) . . . ............. (4,208) (4,208) (4,208)
Preferred stock, series C ($72.50
per share) . ............. (56,141) (56,141) (56,141)
Restricted stock dividend . . . . .... (11) (11) (11)
Issuance of common shares . . .... 1,803,683 1,803,683 361 16,184 16,545 16,545
Preferred stock issuance costs and
related amortization ......... 294 (294) — —
Conversion of preferred shares. .... (810,370) 41,240,215 41,240,215 (810,370) 8,248 802,122 — —
Tax benefit related to employee stock
option and purchase plans . . .... (9,145) (9,145) (9,145)
Stock-based compensation cost .... 39,492 39,492 39,492
Cumulative effect of accounting
change . . . . ............. (753,856) (753,856) (753,856)
Repurchase of common shares:
Benefit plans ............. (1,097,647) (1,097,647) (14,750) (14,750) (14,750)
Noncontrolling interest — other .... — (13) (13)
Balance at December 31, 2010 .... 7,300,000 595,263,474 (68,319,589) 526,943,885 $ 565,000 $119,053 $5,939,838 $(44,664) $ 308,839 $(1,876,488) $5,011,578 $ — $5,011,578
See accompanying notes to consolidated financial statements.
F-8