Sallie Mae 2012 Annual Report Download - page 155
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SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
6. Borrowings (Continued)
At December 31, 2012, we had outstanding long-term borrowings with call features totaling $3.6 billion. In
addition, we have $5.9 billion of pre-payable debt related to our ABCP and acquisition financing facilities.
Generally, these instruments are callable at the par amount. As of December 31, 2012, the stated maturities and
maturities if accelerated to the call dates are shown in the following table.
December 31, 2012
Stated Maturity(1) Maturity to Call Date(1)
(Dollars in millions)
Senior
Unsecured
Debt
Brokered
Deposits
Secured
Borrowings Total(2)
Senior
Unsecured
Debt
Brokered
Deposits
Secured
Borrowings Total
Year of Maturity
2013 ........... $ — $ — $ 13,655 $ 13,655 $ 1,563 $ — $ 18,881 $ 20,444
2014 ........... 3,021 1,738 14,893 19,652 3,158 1,738 10,515 15,411
2015 ........... 997 708 10,163 11,868 1,086 708 9,939 11,733
2016 ........... 2,277 235 9,781 12,293 2,276 235 9,781 12,292
2017 ........... 1,823 407 10,169 12,399 1,801 407 10,169 12,377
2018-2047 ...... 7,328 — 72,417 79,745 5,562 — 71,793 77,355
15,446 3,088 131,078 149,612 15,446 3,088 131,078 149,612
Hedge accounting
adjustments . . . 1,644 32 1,113 2,789 1,644 32 1,113 2,789
Total .......... $17,090 $3,120 $132,191 $152,401 $17,090 $3,120 $132,191 $152,401
(1) We view our securitization trust debt as long-term based on the contractual maturity dates and projecting the expected principal paydowns
based on our current estimates regarding loan prepayment speeds. The projected principal paydowns in year 2013 include $13.7 billion
related to the securitization trust debt.
(2) The aggregate principal amount of debt that matures in each period is $13.7 billion in 2013, $19.7 billion in 2014, $11.9 billion in 2015,
$12.4 billion in 2016, $12.5 billion in 2017, and $80.3 billion in 2018-2047.
F-45