Sallie Mae 2010 Annual Report Download - page 189
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18. Income Taxes (Continued)
Income tax expense for the years ended December 31, 2010, 2009, and 2008 consists of:
2010 2009 2008
December 31,
Continuing operations current provision/(benefit):
Federal ....................................... $252,380 $ 156,395 $ 391,770
State ......................................... 36,777 (19,895) 31,535
Foreign ....................................... (2) 27 86
Total continuing operations current provision/(benefit) ...... 289,155 136,527 423,391
Continuing operations deferred provision/(benefit):
Federal ....................................... 214,440 124,180 (422,261)
State ......................................... (10,826) 3,161 (37,823)
Foreign ....................................... — — —
Total continuing operations deferred provision/(benefit) ..... 203,614 127,341 (460,084)
Continuing operations provision for income tax
expense/(benefit) ................................ 492,769 263,868 (36,693)
Discontinued operations current provision/(benefit):
Federal ....................................... $ 29,276 $(199,306) $ 9,639
State ......................................... 7,254 (13,518) 1,201
Foreign ....................................... 49 370 592
Total discontinued operations current provision/(benefit) ..... 36,579 (212,454) 11,432
Discontinued operations deferred provision/(benefit):
Federal ....................................... (55,842) 114,766 (120,890)
State ......................................... (5,105) 13,112 (21,077)
Foreign ....................................... — (321) (346)
Total discontinued operations deferred provision/(benefit) .... (60,947) 127,557 (142,313)
Discontinued operations provision for income tax
expense/(benefit) ................................ (24,368) (84,897) (130,881)
Provision for income tax expense/(benefit) ............... $468,401 $ 178,971 $(167,574)
F-86
SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, except per share amounts, unless otherwise stated)