Sallie Mae 2015 Annual Report Download - page 94
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F-4
SLM CORPORATION
CONSOLIDATED BALANCE SHEETS
(In thousands, except per share amounts)
December 31,
2015 2014
Assets
Cash and cash equivalents. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,416,219 $ 2,359,780
Available-for-sale investments at fair value (cost of $196,402 and
$167,740, respectively) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 195,391 168,934
Loans held for investment (net of allowance for losses of $112,507 and
$83,842, respectively) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,630,591 9,509,786
Restricted cash and investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27,980 4,804
Other interest-earning assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54,845 72,479
Accrued interest receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 564,496 469,697
Premises and equipment, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81,273 78,470
Acquired intangible assets, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,745 3,225
Tax indemnification receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 186,076 240,311
Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55,482 64,757
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 15,214,098 $ 12,972,243
Liabilities
Deposits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 11,487,707 $ 10,540,555
Short-term borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500,175 —
Long-term borrowings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 579,101 —
Income taxes payable, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 166,662 191,499
Upromise related liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 275,384 293,004
Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108,746 117,227
Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,117,775 11,142,285
Commitments and contingencies
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 per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 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 $9,949 and
$7,186, respectively) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (16,059) (11,393)
Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 366,609 113,066
Total SLM Corporation's 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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 15,214,098 $ 12,972,243
See accompanying notes to consolidated financial statements.