Sallie Mae 2015 Annual Report Download - page 159

SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, unless otherwise noted)
F-69
22. Parent Only Statements
The following parent company-only financial information should be read in conjunction with the other notes to the
consolidated financial statements. The accounting policies for the parent company-only financial statements are the same as
those used in the presentation of the consolidated financial statements other than the parent company-only financial statements
account for the parent company's investments in its subsidiaries under the equity method.
Parent Only Condensed Balance Sheets
December 31,
2015 2014
Assets
Cash and cash equivalents. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 282,036 $ 434,245
Total investments in subsidiaries (primarily Sallie Mae Bank) . . . . . . . 1,810,567 1,389,995
Tax indemnification receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 186,076 240,311
Due from subsidiaries, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,396 32,408
Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,352 1,943
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,301,427 $ 2,098,902
Liabilities and Equity
Liabilities
Income taxes payable, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 189,215 $ 245,782
Payable due to Navient . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,990 8,764
Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,899 14,398
Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 205,104 268,944
Equity
Preferred stock, par value $0.20 per share, 20 million shares
authorized:
Series A: 3.3 million and 3.3 million shares issued, respectively, at
stated value of $50 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165,000 165,000
Series B: 4 million and 4 million shares issued, respectively, at
stated value of $100 per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400,000 400,000
Common stock, par value $0.20 per share, 1.125 billion shares
authorized: 430.7 million and 424.8 million shares issued, respectively 86,136 84,961
Additional paid-in capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,135,860 1,090,511
Accumulated other comprehensive loss (net of tax benefit of $9,949
and $7,186, respectively . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (16,059) (11,393)
Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 366,609 113,066
Total SLM Corporation stockholders' equity before treasury stock . . . . 2,137,546 1,842,145
Less: common stock held in treasury at cost: 4.4 million and 1.4
million shares, respectively. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (41,223) (12,187)
Total equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,096,323 1,829,958
Total liabilities and equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,301,427 $ 2,098,902