Sallie Mae 2015 Annual Report Download - page 162
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SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, unless otherwise noted)
F-72
23. Selected Quarterly Financial Information (unaudited)
2015
First Second Third Fourth
(Dollars in thousands, except per share data) Quarter Quarter Quarter Quarter
Net interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 170,954 $ 168,257 $ 175,442 $ 187,846
Less: provisions for credit losses . . . . . . . . . . . . . . . . . 16,618 15,558 27,497 30,382
Net interest income after provisions for credit losses .154,336 152,699 147,945 157,464
Gains on sales of loans, net . . . . . . . . . . . . . . . . . . . . . — 76,874 — 58,484
Gains (losses) on derivative and hedging activities,
net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,292 1,602 (547) 953
Other income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,007 10,912 10,455 12,561
Operating expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . 81,187 89,799 92,864 85,245
Acquired intangible asset impairment and
amortization expense . . . . . . . . . . . . . . . . . . . . . . . . . . 370 370 370 370
Restructuring and other reorganization expenses . . . . 4,657 744 910 (913)
Income tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . 31,722 60,158 17,985 54,915
Net income attributable to SLM Corporation. . . . . 47,699 91,016 45,724 89,845
Preferred stock dividends. . . . . . . . . . . . . . . . . . . . . . . 4,823 4,870 4,913 4,989
Net income attributable to SLM Corporation
common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 42,876 $ 86,146 $ 40,811 $ 84,856
Basic earnings per common share attributable to
SLM Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.10 $ 0.20 $ 0.10 $ 0.20
Diluted earnings per common share attributable to
SLM Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.10 $ 0.20 $ 0.09 $ 0.20