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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 4,092,465 $ 4,700,366
Investments:    
Trading investments at fair value (cost of $39,571 and $41,715, respectively) 49,600 53,262
Available-for-sale investments at fair value (cost of $1,742,863 and $2,042,473, respectively) 1,650,656 1,933,226
Other investments 95,060 112,377
Total investments 1,795,316 2,098,865
Loans held for investment (net of allowance for losses of $1,469,509 and $1,435,920, respectively) 21,160,332 20,902,158
Restricted cash 163,761 173,894
Other interest-earning assets 2,102 4,880
Accrued interest receivable 1,695,698 1,546,590
Premises and equipment, net 117,821 119,354
Goodwill and acquired intangible assets, net 61,612 63,532
Income taxes receivable, net 454,837 425,625
Other assets 58,973 36,846
Total assets 29,602,917 30,072,110
Liabilities    
Deposits 20,481,952 21,068,568
Long-term borrowings 6,410,978 6,440,345
Other liabilities 335,000 403,277
Total liabilities 27,227,930 27,912,190
Commitments and contingencies
Equity    
Series B: 2.5 million and 2.5 million shares issued, respectively, at stated value of $100 per share 251,070 251,070
Common stock, par value $0.20 per share, 1.125 billion shares authorized: 442.9 million and 440.6 million shares issued, respectively 88,592 88,121
Additional paid-in capital 1,218,580 1,193,753
Accumulated other comprehensive loss (net of tax benefit of ($20,370) and ($21,209), respectively) (60,833) (65,861)
Retained earnings 4,426,222 4,114,446
Total SLM Corporation stockholders’ equity before treasury stock 5,923,631 5,581,529
Less: Common stock held in treasury at cost: 234.5 million and 230.2 million shares, respectively (3,548,644) (3,421,609)
Total equity 2,374,987 2,159,920
Total liabilities and equity $ 29,602,917 $ 30,072,110