Sallie Mae 2010 Annual Report Download - page 57
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(Dollars in millions)
FFELP
Stafford and
Other
FFELP
Consolidation
Loans
Total
FFELP
Private
Education
Loans Total
December 31, 2009
GAAP-basis:
In-school ......................... $15,250 $ — $ 15,250 $ 6,058 $ 21,308
Grace and repayment ................ 36,543 67,235 103,778 18,198 121,976
Total GAAP-basis, gross ............... 51,793 67,235 119,028 24,256 143,284
GAAP-basis unamortized
premium/(discount) ................. 986 1,201 2,187 (559) 1,628
GAAP-basis receivable for partially charged-
off loans ......................... — — — 499 499
GAAP-basis allowance for losses ......... (104) (57) (161) (1,443) (1,604)
Total GAAP-basis, net ................. 52,675 68,379 121,054 22,753 143,807
Off-balance sheet:
In-school ......................... 232 — 232 773 1,005
Grace and repayment ................ 5,143 14,369 19,512 12,213 31,725
Total off-balance sheet, gross ............ 5,375 14,369 19,744 12,986 32,730
Off-balance sheet unamortized
premium/(discount) ................. 139 438 577 (349) 228
Off-balance sheet receivable for partially
charged-off loans ................... — — — 229 229
Off-balance sheet allowance for losses ..... (15) (10) (25) (524) (549)
Total off-balance sheet, net ............. 5,499 14,797 20,296 12,342 32,638
Total “Core Earnings” basis ............. $58,174 $83,176 $141,350 $35,095 $176,445
% of GAAP-basis FFELP .............. 44% 56% 100%
% of “Core Earnings” basis FFELP ....... 41% 59% 100%
% of total .......................... 33% 47% 80% 20% 100%
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