Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (Unaudited)

18.

Quarterly Financial Information (unaudited)


	2013
(Dollars in millions, except per share data)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Net interest income	$	795		$	784		$	799		$	789
Less: provisions for loan losses		241			201			207			190

Net interest income after provisions for loan losses		554			583			592			599
Gains (losses) on derivative and hedging activities, net		(31	)		18			(127	)		(128	)
Other income		281			472			196			203
Operating expenses		235			244			257			305
Goodwill and acquired intangible asset impairment and amortization expense		3			3			4			3
Restructuring and other reorganization expenses		10			23			12			26
Income tax expense		211			299			136			129

Net income from continuing operations		345			504			252			211
Income (loss) from discontinued operations, net of taxes		1			38			8			59

Net income		346			542			260			270
Less: net loss attributable to noncontrolling interest		—			(1	)		—			—

Net income attributable to SLM Corporation		346			543			260			270
Preferred stock dividends		5			5			5			5

Net income attributable to SLM Corporation common stock	$	341		$	538		$	255		$	265

Basic earnings per common share attributable to SLM Corporation:
Continuing operations	$	.76		$	1.14		$	.56		$	.47
Discontinued operations		—			.08			.02			.14

Total	$	.76		$	1.22		$	.58		$	.61

Diluted earnings per common share attributable to SLM Corporation:
Continuing operations	$	.74		$	1.12		$	.55		$	.47
Discontinued operations		—			.08			.02			.13

Total	$	.74		$	1.20		$	.57		$	.60


	2012
(Dollars in millions, except per share data)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Net interest income	$	811		$	746		$	819		$	832
Less: provisions for loan losses		253			243			270			314

Net interest income after provisions for loan losses		558			503			549			518
Gains (losses) on derivative and hedging activities, net		(372	)		6			(233	)		(28	)
Other income		238			176			202			256
Operating expenses		236			216			220			226
Goodwill and acquired intangible asset impairment and amortization expense		5			5			5			14
Restructuring and other reorganization expenses		4			3			2			1
Income tax expense		68			169			104			157

Net income from continuing operations		111			292			187			348
Income (loss) from discontinued operations, net of taxes		—			(1	)		—			—

Net income		111			291			187			348
Less: net loss attributable to noncontrolling interest		(1	)		(1	)		(1	)		—

Net income attributable to SLM Corporation		112			292			188			348
Preferred stock dividends		5			5			5			5

Net income attributable to SLM Corporation common stock	$	107		$	287		$	183		$	343

Basic earnings per common share attributable to SLM Corporation:
Continuing operations	$	.21		$	.59		$	.39		$	.75
Discontinued operations		—			—			—			—

Total	$	.21		$	.59		$	.39		$	.75

Diluted earnings per common share attributable to SLM Corporation:
Continuing operations	$	.21		$	.59		$	.39		$	.74
Discontinued operations		—			—			—			—

Total	$	.21		$	.59		$	.39		$	.74

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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