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Parent Only Statements - Statements of Cash Flows (Details) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017
Cash flows from operating activities: |  |  |
Net income | $ 578,276 | $ 487,476 | $ 288,934
Adjustments to reconcile net income to net cash (used in) provided by operating activities: |  |  |
Reduction of tax indemnification receivable | 11,649 | 92,815 | 31,888
Amortization of unsecured debt upfront fees | 1,117 | 1,128 | 1,316
Decrease in tax indemnification receivable | 0 | 35,989 | 59,633
Increase in other assets | (3,091) | (64,777) | (72,646)
Decrease in income taxes payable, net | (30,191) | (79,693) | (19,687)
(Decrease) increase in other liabilities | 5,386 | 15,204 | 1,304
Total adjustments | (593,917) | (590,217) | (460,093)
Total net cash used in operating activities | (15,641) | (102,741) | (171,159)
Cash flows from investing activities: |  |  |
Total net cash used in investing activities | (2,306,714) | (3,254,863) | (3,160,150)
Cash flows from financing activities: |  |  |
Unsecured debt issued | 0 | 0 | 197,000
Issuance costs for unsecured debt offering | 0 | 0 | (1,057)
Redemption of Series A Preferred Stock | 0 | 0 | (165,000)
Common stock dividends paid | (51,114) | 0 | 0
Preferred stock dividends paid | (16,837) | (15,640) | (15,714)
Common stock repurchased | (167,201) | 0 | 0
Net cash provided by financing activities | 5,361,220 | 4,403,324 | 2,994,974
Cash and cash equivalents at beginning of year | 2,559,106 | 1,534,339 |
Cash and cash equivalents at end of year | 5,563,877 | 2,559,106 | 1,534,339
Parent Company |  |  |
Cash flows from operating activities: |  |  |
Net income | 578,276 | 487,476 | 288,934
Adjustments to reconcile net income to net cash (used in) provided by operating activities: |  |  |
Undistributed earnings of subsidiaries | (611,692) | (532,741) | (320,775)
Dividends received from Sallie Mae Bank | 254,000 | 0 | 0
Reduction of tax indemnification receivable | 11,649 | 92,815 | 31,888
Amortization of unsecured debt upfront fees | 811 | 809 | 596
Decrease in investment in subsidiaries, net | 2,611 | 9,495 | 1,158
Decrease in tax indemnification receivable | 0 | 35,989 | 59,633
Decrease (increase) in due from subsidiaries, net | 6,254 | (11,277) | (5,687)
Increase in other assets | (12,999) | (18,040) | (24,627)
Decrease in income taxes payable, net | (25,814) | (123,083) | (87,983)
Decrease in payable due to entity that is a subsidiary of Navient | (416) | (1,089) | (593)
(Decrease) increase in other liabilities | (5,796) | 6,807 | 10,205
Total adjustments | (381,392) | (540,315) | (336,185)
Total net cash used in operating activities | 196,884 | (52,839) | (47,251)
Cash flows from investing activities: |  |  |
Total net cash used in investing activities | 0 | 0 | 0
Cash flows from financing activities: |  |  |
Unsecured debt issued | 0 | 0 | 197,000
Issuance costs for unsecured debt offering | 0 | 0 | (1,057)
Redemption of Series A Preferred Stock | 0 | 0 | (165,000)
Common stock dividends paid | (51,114) | 0 | 0
Preferred stock dividends paid | (16,837) | (15,640) | (15,714)
Common stock repurchased | (167,201) | 0 | 0
Net cash provided by financing activities | (235,152) | (15,640) | 15,229
Net (decrease) increase in cash and cash equivalents | (38,268) | (68,479) | (32,022)
Cash and cash equivalents at beginning of year | 191,776 | 260,255 | 292,277
Cash and cash equivalents at end of year | $ 153,508 | $ 191,776 | $ 260,255

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