SLM Corp SLM Income Statement

Slm corp (SLM)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09	Sep'08	Jun'08
Interest income:
Loans
555,277	577,087	564,698	553,905	553,479	524,597	485,997	454,045	430,048	392,399	359,610	336,739	324,757	295,241	268,341	251,675	245,230	218,703	205,274	195,287	197,856	174,413	164,106	162,238	160,035	-460,985	131,030	122,212	735,000	-1,996,358	840,000	777,000	842,000	-2,143,072	858,000	850,000	877,000	777,276	885,000	875,962	806,762	1,662,356	481,592	460,690	489,362	830,566	769,664
Investments
2,517	2,335	2,145	1,706	1,421	1,181	1,340	1,694	1,947	2,016	1,928	2,201	2,143	2,005	2,193	2,371	2,591	2,501	2,640	2,386	2,720	2,792	2,917	2,236	968	-	5,826	5,638	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FFELP Stafford and Other Student Loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	303,192	323,939	342,816	516,116	497,598
Private Education Loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	623,000	-	615,000	616,000	625,000	-	609,000	600,000	604,000	601,506	611,000	575,340	565,154	405,601	396,339	393,019	387,041	445,572	409,323
Other loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,000	-	4,000	4,000	5,000	-	5,000	5,000	6,000	6,750	7,000	7,254	8,996	10,070	11,042	18,468	16,420	19,874	21,355
Cash and cash equivalents
17,139	21,044	23,548	18,111	11,553	12,435	10,260	6,572	5,236	5,081	4,686	3,155	2,588	2,767	2,003	1,195	1,634	1,183	987	801	780	1,444	1,180	1,099	866	-3,022	837	1,038	5,000	-13,701	5,000	6,000	5,000	-11,205	4,000	5,000	5,000	6,752	8,000	6,299	4,949	6,104	6,881	7,044	5,971	57,154	70,521
Total interest income
574,933	600,466	590,391	573,722	566,453	538,213	497,597	462,311	437,231	399,496	366,224	342,095	329,488	300,013	272,537	255,241	249,455	222,387	208,901	198,474	201,356	178,649	168,203	165,573	161,869	-1,081,381	137,693	128,888	1,366,000	-3,852,719	1,464,000	1,403,000	1,477,000	-3,955,695	1,476,000	1,460,000	1,492,000	1,392,284	1,511,000	1,464,855	1,385,861	1,114,184	1,199,046	1,203,160	1,241,610	1,869,282	1,768,461
Interest expense:
Deposits
135,112	141,769	143,393	136,597	125,987	116,195	105,093	90,605	77,456	66,218	61,890	50,730	44,853	40,777	38,210	35,409	34,012	28,229	29,110	29,482	29,570	27,972	24,177	21,034	22,591	-	20,849	21,439	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense on short-term borrowings
4,217	2,493	1,400	1,135	1,165	1,156	1,156	1,128	2,393	2,107	1,804	1,194	1,236	1,495	1,604	2,060	2,163	2,972	1,951	735	832	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense on long-term borrowings
35,488	37,103	40,533	39,122	37,020	37,995	34,715	29,628	24,768	21,980	20,469	20,278	15,323	12,309	9,448	5,006	3,415	3,340	2,398	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2	-	-	-	0	-	-	0	40	-	61	32	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total interest expense
174,817	181,365	185,326	176,854	164,172	155,346	140,964	121,361	104,617	90,305	84,163	72,202	61,412	54,579	49,262	42,475	39,592	34,541	33,459	30,217	30,402	27,973	24,177	21,034	22,631	-524,296	20,910	21,471	571,000	-1,884,088	645,000	656,000	666,000	-1,671,616	591,000	592,000	594,000	535,683	639,000	568,933	531,384	515,124	673,870	819,459	1,026,547	1,394,533	1,365,918
Net interest income
400,116	419,101	405,065	396,868	402,281	382,867	356,633	340,950	332,614	309,191	282,061	269,893	268,076	245,434	223,275	212,766	209,863	187,846	175,442	168,257	170,954	150,676	144,026	144,539	139,238	-557,085	116,783	107,417	795,000	-1,968,631	819,000	747,000	811,000	-2,284,079	885,000	868,000	898,000	856,601	872,000	895,922	854,477	599,060	525,176	383,701	215,063	474,749	402,543
Less: provisions for credit losses
61,258	-	-	-	63,790	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: provisions for credit losses
-	-	99,526	93,375	-	57,619	70,047	63,267	53,931	55,324	54,930	50,215	25,296	43,226	41,784	41,793	32,602	30,382	27,497	15,558	16,618	30,458	14,898	1,014	39,159	-191,050	20,404	-1,015	241,000	-699,884	270,000	243,000	253,000	-917,664	409,000	291,000	303,000	319,641	358,000	382,239	359,120	269,482	321,127	278,112	250,279	186,909	143,015
Net interest income after provisions for credit losses
338,858	321,543	305,539	303,493	338,491	325,248	286,586	277,683	278,683	253,867	227,131	219,678	242,780	202,208	181,491	170,973	177,261	157,464	147,945	152,699	154,336	120,218	129,128	143,525	100,079	-366,035	96,379	108,432	554,000	-1,268,747	549,000	504,000	558,000	-1,366,415	476,000	577,000	595,000	536,960	514,000	513,683	495,357	329,578	204,049	105,589	-35,216	287,840	259,528
Non-interest income:
Gains on sales of loans, net
239,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains on sales of loans, net
-	-	0	0	-	-	0	2,060	-	-	0	0	-	-	-	-	-	-	0	76,874	-	396	85,147	1,928	33,888	24,718	43,434	73,441	55,000	-	-	-	-	-	-	-	-	-	1,000	-3,515	8,653	-	12,452	-	-	-43,899	-43,583
Gain (Loss) on Sales of Mortgage Backed Securities (MBS)
-	-	0	0	-	-	0	-1,549	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Securitization servicing and Residual Interest revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	147,752	155,065	87,488	-95,305	64,990	1,630
Gains on derivatives and hedging activities, net
45,672	-3,635	1,961	16,736	2,763	6,238	-4,949	-5,268	3,892	-940	1,661	-3,609	-5,378	-4,114	1,368	2,142	-354	953	-547	1,602	3,292	825	5,401	-9,458	-764	31,395	297	-52	-31,000	593,539	-233,000	6,000	-372,000	-	-480,000	-510,000	-242,000	-29,906	-344,000	95,316	-82,410	-34,674	-111,556	-561,795	104,025	-241,757	362,043
Servicing revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	70,000	-	71,000	88,000	97,000	-	95,000	93,000	98,000	-3,012	93,000	98,740	122,272	-	-	-	-	-	-
Contingency revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	99,000	-	85,000	87,000	90,000	-	84,000	86,000	78,000	77,516	84,000	88,172	80,312	63,617	82,200	73,368	74,815	89,418	83,790
Gains on debt repurchases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23,000	-	44,000	20,000	37,000	-	0	0	38,000	335,969	-18,000	-91,050	90,081	-	-	-	-	-	-
Collections revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	21,241	23,933	43,656	-170,692	26,365
Guarantor servicing fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	48,087	24,772	34,008	36,848	23,663
Other income
7,487	-211	15,280	2,655	13,378	6,446	-80,702	12,295	9,642	-21,066	4,455	10,629	11,346	13,235	21,598	13,683	21,028	12,561	10,455	10,912	8,007	11,095	5,461	15,229	8,136	-14,859	9,416	8,665	34,000	-3,359	2,000	-2,000	40,000	50,596	1,000	3,000	22,000	-2,351	-4,000	-2,449	13,800	-653,529	150,006	399,065	192,458	93,096	108,728
Total non-interest income
292,094	-3,846	17,241	19,391	16,141	12,684	-85,651	7,538	13,534	-22,006	6,116	7,020	5,968	9,351	22,966	15,825	20,674	71,998	9,908	89,388	11,299	12,316	96,009	7,699	41,260	-	53,147	82,054	-	206,511	-31,000	199,000	-108,000	732,008	-300,000	-328,000	-6,000	478,978	-152,000	367,314	232,708	575,017	357,495	46,831	353,657	-171,996	562,636
Total other income (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	250,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-interest expenses:
Compensation and benefits
84,222	68,016	64,980	66,495	78,738	61,524	62,260	60,245	68,317	55,796	51,052	51,007	55,464	45,837	43,380	44,570	50,209	39,896	39,304	38,572	41,203	36,778	31,597	31,667	29,667	-71,053	26,031	26,821	125,000	-247,425	113,000	117,000	127,000	-268,767	138,000	125,000	135,000	108,837	138,000	139,061	149,102	126,187	140,888	137,783	135,142	157,408	167,788
FDIC assessment fees
8,890	9,064	8,814	7,356	7,618	6,853	9,136	8,001	8,796	7,473	7,626	6,622	7,229	5,661	5,095	4,277	4,176	-	3,801	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating expenses
54,186	64,599	79,827	64,955	53,791	77,594	79,328	67,069	47,853	55,750	57,464	53,622	39,984	47,444	51,234	45,930	38,500	34,802	49,759	51,227	39,984	35,724	40,482	28,812	34,004	-28,606	42,509	39,772	110,000	-211,805	107,000	114,000	135,000	-374,164	147,000	143,000	168,000	121,799	164,000	170,668	138,533	10,403	162,242	170,381	159,974	209,744	185,900
Total operating expenses
-	-	-	-	-	-	-	-	-	-	116,142	111,251	102,677	-	99,709	94,777	92,885	85,245	92,864	89,799	81,187	78,652	72,079	60,479	63,671	-99,659	68,540	66,593	235,000	-459,230	220,000	231,000	262,000	-568,404	285,000	268,000	303,000	230,636	302,000	309,729	287,635	-	-	-	-	-	-
Acquired intangible asset amortization expense
-	-	-	-	-	-	-	-	-	-	117	117	117	-	226	261	260	370	370	370	370	-783	1,150	1,156	1,767	-2,054	1,657	714	3,000	-1,875	5,000	5,000	5,000	-13,851	6,000	6,000	6,000	-146,422	670,000	9,710	9,712	-	9,774	-	-	-	-
Restructuring and other reorganization expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-913	910	744	4,657	10,483	14,079	13,520	229	-9,358	0	84	10,000	-10,000	2,000	3,000	5,000	-	1,000	2,000	4,000	32,388	10,000	17,808	24,804	402	2,492	3,333	3,773	10,508	46,740
Total non-interest expenses
147,298	141,679	153,621	138,806	140,147	145,971	150,724	135,315	124,966	118,668	116,259	111,368	102,794	98,195	99,935	95,038	93,145	84,702	94,144	90,913	86,214	88,352	87,308	75,155	65,667	-111,071	70,197	67,391	248,000	-471,105	227,000	239,000	272,000	-589,255	292,000	276,000	313,000	116,602	982,000	337,247	322,151	203,218	315,396	311,497	298,889	377,660	400,428
Income before income tax expense
483,654	176,018	169,159	184,078	214,485	191,961	50,211	149,906	167,251	113,193	116,988	115,330	145,954	113,364	104,522	91,760	104,790	144,760	63,709	151,174	79,421	44,182	137,829	76,069	75,672	-341,897	79,329	123,095	556,000	-591,131	291,000	464,000	178,000	-45,152	-116,000	-27,000	276,000	899,336	-620,000	543,750	405,914	701,377	246,148	-159,077	19,552	-261,816	421,736
Income tax expense
121,481	34,666	40,701	33,801	56,296	44,449	-53,667	40,074	40,997	66,190	40,617	44,713	51,011	43,122	47,557	34,555	38,875	54,915	17,985	60,158	31,722	24,465	54,903	31,941	28,658	-129,311	30,272	46,973	211,000	-213,857	104,000	169,000	67,000	-8,589	-46,000	-10,000	99,000	267,862	-126,000	198,978	159,160	232,204	80,423	-43,110	-5,517	-103,819	153,074
Net income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	345,000	-	187,000	295,000	-	-	-70,000	-17,000	177,000	631,474	-494,000	344,772	246,754	469,173	165,725	-115,967	25,069	-	-
Income from discontinued operations, net of tax expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,000	-	0	-4,000	-	-	23,000	11,000	-2,000	-184,432	-1,000	-6,954	-6,614	-160,867	-6,417	-6,542	-46,174	-	-
Net income
362,173	141,352	128,458	150,277	158,189	147,512	103,878	109,832	126,254	47,003	76,371	70,617	94,943	70,242	56,965	57,205	65,915	89,845	45,724	91,016	47,699	19,717	82,926	44,128	47,014	-213,586	49,057	76,122	346,000	-373,274	187,000	291,000	111,000	-68,563	-47,000	-6,000	175,000	-	-	-	-	308,306	159,308	-122,509	-21,105	-157,997	268,662
Less: net loss attributable to noncontrolling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-434	-672	-333	-347	0	1,106	-1,000	-1,000	-1,000	-	-	-	-	-	-	-	-	-	198	211	281	544	2,926
Net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19,717	82,926	44,128	47,448	-212,914	49,390	76,469	346,000	-374,380	188,000	292,000	112,000	-67,803	-47,000	-6,000	175,000	447,042	-495,000	337,818	240,140	308,996	159,110	-122,720	-21,386	-158,541	265,736
Preferred stock dividends
3,464	3,885	4,153	4,331	4,468	4,199	4,124	3,920	3,397	3,137	3,028	3,974	5,575	5,506	5,316	5,243	5,139	4,989	4,913	4,870	4,823	4,855	4,850	3,228	0	-5,000	0	0	5,000	-15,000	5,000	5,000	5,000	-	5,000	4,000	4,000	15,611	19,000	18,711	18,678	51,178	42,627	25,800	26,395	27,474	27,391
Net income attributable to SLM Corporation common stock
358,709	137,467	124,305	145,946	153,721	143,313	99,754	105,912	122,857	43,866	73,343	66,643	89,368	64,736	51,649	51,962	60,776	84,856	40,811	86,146	42,876	14,862	78,076	40,900	47,448	-207,914	49,390	76,469	341,000	-359,380	183,000	287,000	107,000	-	-52,000	-10,000	171,000	431,431	-514,000	319,107	221,462	257,818	116,483	-148,520	-47,781	-186,015	238,345
Continuing operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	165,527	-116,178	24,788	-	-
Discontinued operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6,417	-6,542	-46,174	-	-
Net income (loss) attributable to SLM Corporation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	159,110	-122,720	-21,386	-158,541	265,736
Continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.76	-	0.39	0.60	-	-	-0.14	-0.04	0.32	1.27	-1.06	0.67	0.47	-	0.26	-0.31	-	-	-
Discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	-	-	-0.01	-	-	0.04	0.02	0.00	-0.38	-0.01	-0.01	-0.01	6,541,999.64	-0.01	-6,542,000.00	-0.10	-	-
Basic earnings per common share attributable to SLM Corporation (in dollars per share)
0.88	0.33	0.29	0.34	0.35	0.33	0.23	0.24	0.28	0.10	0.17	0.15	0.21	0.16	0.12	0.12	0.14	0.20	0.10	0.20	0.10	0.04	0.18	0.10	0.11	0.00	0.11	0.17	0.76	-0.73	0.39	0.59	0.21	-	-0.10	-0.02	0.32	0.88	-1.06	0.66	0.46	0.55	0.25	-0.32	-0.10	-0.40	0.51
Average common shares outstanding (in shares)
409,786	421,167	424,149	429,278	434,574	435,609	435,468	435,187	433,952	432,010	431,718	431,245	429,891	428,374	428,077	427,942	427,111	426,161	426,019	425,688	424,428	423,279	423,079	422,805	426,717	433,351	436,109	439,972	451,000	455,472	464,000	482,000	503,000	-	511,000	524,000	527,000	493,909	485,000	484,832	484,259	480,160	470,280	466,799	466,761	466,646	466,649
Continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.74	-	0.39	0.60	-	-	-0.14	-0.04	0.32	1.31	-1.06	0.64	0.46	-	0.26	-0.31	-	-	-
Discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	-	-	-0.01	-	-	0.04	0.02	0.00	-0.38	-0.01	-0.01	-0.01	-0.35	-0.01	-0.01	-0.10	-	-
Diluted earnings per common share attributable to SLM Corporation (in dollars per share)
0.87	0.32	0.29	0.34	0.35	0.32	0.23	0.24	0.28	0.10	0.17	0.15	0.20	0.15	0.12	0.12	0.14	0.20	0.09	0.20	0.10	0.04	0.18	0.09	0.11	0.00	0.11	0.17	0.74	-0.74	0.39	0.59	0.21	-	-0.10	-0.02	0.32	0.92	-1.06	0.63	0.45	0.55	0.25	-0.32	-0.10	-0.40	0.50
Average common and common equivalent shares outstanding (in shares)
412,755	424,859	427,336	432,253	438,248	440,283	440,019	439,445	438,977	438,935	438,419	438,115	438,735	435,454	433,523	431,796	430,903	431,345	432,547	432,742	432,302	432,072	431,604	430,750	434,650	443,193	444,939	448,064	458,000	462,568	471,000	488,000	510,000	-	511,000	524,000	532,000	412,978	485,000	527,391	526,631	483,382	471,058	466,799	466,761	466,646	517,954
Declared dividends per common share attributable to SLM Corporation (in dollars per share)
0.03	0.03	0.00	0.06	0.03	0.00	0.00	0.00	0.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.15	-	0.12	0.12	0.12	-	0.10	0.10	-	-	-	-	0.00	-	0.00	0.00	0.00	0.00	0.00