Sallie Mae 2013 Annual Report Download - page 208
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SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
14. Income Taxes (Continued)
Income tax expense consists of:
December 31,
(Dollars in millions) 2013 2012 2011
Continuing operations current provision/(benefit):
Federal ..................................................... $567 $474 $ 436
State ....................................................... 47 27 38
Foreign ..................................................... — — —
Total continuing operations current provision/(benefit) ................. 614 501 474
Continuing operations deferred provision/(benefit):
Federal ..................................................... 142 23 (121)
State ....................................................... 20 (26) (25)
Foreign ..................................................... — — —
Total continuing operations deferred provision/(benefit) ................ 162 (3) (146)
Continuing operations provision for income tax expense/(benefit) ........ 776 498 328
Discontinued operations current provision/(benefit):
Federal ..................................................... $ 32 $ 1 $ (49)
State ....................................................... 1 — (5)
Foreign ..................................................... — — —
Total discontinued operations current provision/(benefit) ............... 33 1 (54)
Discontinued operations deferred provision/(benefit):
Federal ..................................................... (12) (2) 68
State ....................................................... (1) — 6
Foreign ..................................................... — — —
Total discontinued operations deferred provision/(benefit) .............. (13) (2) 74
Discontinued operations provision for income tax expense/(benefit) ....... 20 (1) 20
Provision for income tax expense/(benefit) ........................... $796 $497 $ 348
F-70