Quarterly Financial Information

12 Months Ended

Dec. 31, 2012

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

19. Quarterly Financial Information (unaudited)

	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 assets 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

	2011
(Dollars in millions, except per share data)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Net interest income	$	898		$	868		$	885		$	879
Less: provisions for loan losses		303			291			409			292
Net interest income after provisions for loan losses		595			577			476			587
Gains (losses) on derivative and hedging activities, net		(242	)		(510	)		(480	)		272
Other income		210			161			156			161
Operating expenses		280			247			261			217
Goodwill and acquired intangible assets amortization expense		5			5			5			5
Restructuring and other reorganization expenses		4			2			3			4
Income tax expense (benefit)		98			(10	)		(47	)		285
Net income (loss) from continuing operations		176			(16	)		(70	)		509
Income (loss) from discontinued operations, net of taxes		(1	)		10			23			2
Net income (loss)		175			(6	)		(47	)		511
Preferred stock dividends		4			4			5			5
Net income (loss) attributable to SLM Corporation common stock	$	171		$	(10	)	$	(52	)	$	506
Basic earnings (loss) per common share attributable to SLM Corporation:
Continuing operations	$	.32		$	(.04	)	$	(.15	)	$	1.00
Discontinued operations		—			.02			.05			—
Total	$	.32		$	(.02	)	$	(.10	)	$	1.00
Diluted earnings (loss) per common share attributable to SLM Corporation:
Continuing operations	$	.32		$	(.04	)	$	(.15	)	$	.99
Discontinued operations		—			.02			.05			—
Total	$	.32		$	(.02	)	$	(.10	)	$	.99