Sallie Mae 2010 Annual Report Download - page 23
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Item 6. Selected Financial Data
Selected Financial Data 2006-2010
(Dollars in millions, except per share amounts)
The following table sets forth our selected financial and other operating information prepared in
accordance with GAAP. The selected financial data in the table is derived from our consolidated financial
statements. The data should be read in conjunction with the consolidated financial statements, related notes,
and Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”
2010 2009 2008 2007 2006
Operating Data:
Net interest income .............. $ 3,479 $ 1,723 $ 1,365 $ 1,588 $ 1,454
Net income (loss):
Continuing operations, net of tax . . $ 597 $ 544 $ 2 $ (938) $ 1,103
Discontinued operations, net of
tax....................... (67) (220) (215) 42 54
Net income (loss)................ $ 530 $ 324 $ (213) $ (896) $ 1,157
Basic earnings (loss) per common
share:
Continuing operations........... $ 1.08 $ .85 $ (.23) $ (2.36) $ 2.60
Discontinued operations ......... (.14) (.47) (.46) .10 .13
Total ......................... $ .94 $ .38 $ (.69) $ (2.26) $ 2.73
Diluted earnings (loss) per common
share:
Continuing operations........... $ 1.08 $ .85 $ (.23) $ (2.36) $ 2.51
Discontinued operations ......... (.14) (.47) (.46) .10 .12
Total ......................... $ .94 $ .38 $ (.69) $ (2.26) $ 2.63
Dividends per common share ....... $ — $ — $ — $ .25 $ .97
Return on common stockholders’
equity ...................... 13% 5% (9)% (22)% 32%
Net interest margin .............. 1.82 1.05 .93 1.26 1.54
Return on assets................. .28 .20 (.14) (.71) 1.22
Dividend payout ratio............. — — — (11) 37
Average equity/average assets ....... 2.47 2.96 3.45 3.51 3.98
Balance Sheet Data:
Student loans, net................ $184,305 $143,807 $144,802 $124,153 $ 95,920
Total assets .................... 205,307 169,985 168,768 155,565 116,136
Total borrowings ................ 197,159 161,443 160,158 147,046 108,087
Total stockholders’ equity ......... 5,012 5,279 4,999 5,224 4,360
Book value per common share ...... 8.44 8.05 7.03 7.84 9.24
Other Data:
Off-balance sheet securitized student
loans, net .................... $ — $ 32,638 $ 35,591 $ 39,423 $ 46,172
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