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Selected Quarterly Financial Information (unaudited) | 12 Months Ended
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Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract] |
Selected Quarterly Financial Information (unaudited) | Selected Quarterly Financial Information (unaudited)
2021 |  |
(Dollars in thousands, except per share data) |  | First |  | Second |  | Third |  | Fourth
| Quarter |  | Quarter |  | Quarter |  | Quarter
Net interest income |  | $ | 331,114 |  |  | $ | 338,784 |  |  | $ | 357,518 |  |  | $ | 367,350 |
Less: provisions for credit losses |  | (225,767) |  |  | 69,677 |  |  | 138,442 |  |  | (15,309) |
Net interest income after provisions for credit losses |  | 556,881 |  |  | 269,107 |  |  | 219,076 |  |  | 382,659 |
Gains (losses) on sales of loans, net |  | 399,111 |  |  | 3,679 |  |  | (10) |  |  | 145,535 |
Gains (losses) on derivative and hedging activities, net |  | 28 |  |  | 89 |  |  | 44 |  |  | (17) |
Other income |  | 14,288 |  |  | 48,580 |  |  | 13,879 |  |  | 7,243 |
Total operating expenses |  | 124,499 |  |  | 128,010 |  |  | 140,649 |  |  | 125,495 |
Total restructuring expenses |  | 1,077 |  |  | 70 |  |  | 108 |  |  | — |
Income tax expense |  | 203,525 |  |  | 53,174 |  |  | 19,392 |  |  | 103,660 |
Net income |  | 641,207 |  |  | 140,201 |  |  | 72,840 |  |  | 306,265 |
Preferred stock dividends |  | 1,201 |  |  | 1,192 |  |  | 1,166 |  |  | 1,177 |
Net income attributable to SLM Corporation common stock |  | $ | 640,006 |  |  | $ | 139,009 |  |  | $ | 71,674 |  |  | $ | 305,088 |
Basic earnings per common share(1) |  | $ | 1.77 |  |  | $ | 0.45 |  |  | $ | 0.24 |  |  | $ | 1.06 |
Diluted earnings per common share(1) |  | $ | 1.75 |  |  | $ | 0.44 |  |  | $ | 0.24 |  |  | $ | 1.04 |
Declared dividends per common share |  | $ | 0.03 |  |  | $ | 0.03 |  |  | $ | 0.03 |  |  | $ | 0.11 |
(1) Basic and diluted earnings per common share attributable to SLM Corporation are computed independently for each of the quarters presented. Therefore, the sum of quarterly basic and diluted earnings per common share information may not equal annual basic and diluted earnings per common share.
2020 |  |
|  | First |  | Second |  | Third |  | Fourth
(Dollars in thousands, except per share data) |  | Quarter |  | Quarter |  | Quarter |  | Quarter
Net interest income |  | $ | 400,116 |  |  | $ | 348,775 |  |  | $ | 364,567 |  |  | $ | 366,537 |
Less: provisions for credit losses |  | 61,258 |  |  | 351,887 |  |  | (3,640) |  |  | (316,372) |
Net interest income (loss) after provisions for credit losses |  | 338,858 |  |  | (3,112) |  |  | 368,207 |  |  | 682,909 |
Gains (losses) on sales of loans, net |  | 238,935 |  |  | (369) |  |  | (4) |  |  | (247) |
Gains (losses) on derivative and hedging activities, net |  | 45,672 |  |  | 3,751 |  |  | (15) |  |  | 136 |
Other income |  | 7,487 |  |  | 25,412 |  |  | 9,646 |  |  | 1,043 |
Total operating expenses |  | 147,298 |  |  | 141,557 |  |  | 127,490 |  |  | 121,743 |
Total restructuring expenses |  | — |  |  | — |  |  | 24,127 |  |  | 2,088 |
Income tax expense (benefit) |  | 121,481 |  |  | (30,664) |  |  | 55,189 |  |  | 127,310 |
Net income (loss) |  | 362,173 |  |  | (85,211) |  |  | 171,028 |  |  | 432,700 |
Preferred stock dividends |  | 3,464 |  |  | 2,478 |  |  | 2,058 |  |  | 1,734 |
Net income (loss) attributable to SLM Corporation common stock |  | $ | 358,709 |  |  | $ | (87,689) |  |  | $ | 168,970 |  |  | $ | 430,966 |
Basic earnings (loss) per common share(1) |  | $ | 0.88 |  |  | $ | (0.23) |  |  | $ | 0.45 |  |  | $ | 1.15 |
Diluted earnings (loss) per common share(1) |  | $ | 0.87 |  |  | $ | (0.23) |  |  | $ | 0.45 |  |  | $ | 1.13 |
Declared dividends per common share |  | $ | 0.03 |  |  | $ | 0.06 |  |  | $ | — |  |  | $ | 0.03 |
(1) Basic and diluted earnings per common share attributable to SLM Corporation are computed independently for each of the quarters presented. Therefore, the sum of quarterly basic and diluted earnings per common share information may not equal annual basic and diluted earnings per common share.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=124502072&loc=SL124452896-108306 + Details
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