Sallie Mae 2015 Annual Report Download - page 113

SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, unless otherwise noted)
2. Significant Accounting Policies (Continued)
F-23
On January 5, 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and
Financial Liabilities” which changes the income statement impact of equity investments, and the recognition of changes in fair
value of financial liabilities when the fair value option is elected. The new standard is effective on January 1, 2018. The
adoption of this guidance is not expected to have a material impact on our consolidated financial statements.
Recently Adopted Accounting Pronouncements
On February 18, 2015, the FASB issued ASU No. 2015-02, “Consolidation (Topic 810): Amendments to the
Consolidation Analysis,” which amends the current consolidation guidance. The amendments reduce the number of
consolidation models through the elimination of the indefinite deferral of ASC 810 and place more emphasis on risk of loss
when determining a controlling financial interest. The standard is effective January 1, 2016, with early adoption permitted
during an interim period in fiscal year 2015. In the third quarter of 2015, we elected to early adopt the new accounting guidance
retrospectively to July 1, 2015. The early adoption of this standard had no impact on our consolidated financial statements.