XML 64 R46.htm IDEA: XBRL DOCUMENT
v3.20.4

Stock-Based Compensation Plans and Arrangements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Stock option activity | The following table summarizes stock option activity for the year ended December 31, 2020.
(Dollars in thousands, except per share data) | Number of Options |  | Weighted Average Exercise Price per Share |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value(1)
Outstanding at December 31, 2019 | 789,846 |  |  | $ | 4.75 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised(2)(3) | (545,971) |  |  | 4.51 |  |  |  |  |
Canceled | (2,200) |  |  | 3.70 |  |  |  |  |
Outstanding at December 31, 2020(4) | 241,675 |  |  | $ | 5.24 |  |  | 0.1 years |  | $ | 1,727 |
Exercisable at December 31, 2020 | 241,675 |  |  | $ | 5.24 |  |  | 0.1 years |  | $ | 1,727 |
____________ (1)The aggregate intrinsic value represents the total intrinsic value (the aggregate difference between our closing stock price on December 31, 2020 and the exercise price of in-the-money options) that would have been received by the option holders if all in-the-money options had been exercised on December 31, 2020. (2)The total intrinsic value of options exercised was $3 million, $4 million, and $17 million for the years ended December 31, 2020, 2019 and 2018, respectively. (3)No cash was received from option exercises for the year ended December 31, 2020. The actual tax benefit realized for the tax deductions from option exercises totaled less than $1 million for the year ended December 31, 2020. (4)For net-settled options, gross number is reflected.
Restricted stock activity | The following table summarizes restricted stock activity for the year ended December 31, 2020.
(Shares and per share amounts in actuals) | Number of Shares |  | Weighted Average Grant Date Fair Value
Non-vested at December 31, 2019 | 118,789 |  |  | $ | 9.26 |
Granted | 143,033 |  |  | 7.69 |
Vested(1) | (118,789) |  |  | 9.26 |
Canceled | — |  |  | — |
Non-vested at December 31, 2020(2) | 143,033 |  |  | $ | 7.69 |
_________ (1)The total fair value of shares that vested during the years ended December 31, 2020, 2019 and 2018 was $1 million, $1 million and $1 million, respectively. (2)As of December 31, 2020, there was $1 million of unrecognized compensation cost related to restricted stock, which is expected to be recognized over a weighted average period of 0.5 years.
Restricted stock unit and performance stock unit activity | The following table summarizes RSU and PSU activity for the year ended December 31, 2020.
(Shares and per share amounts in actuals) | Number of RSUs/ PSUs |  | Weighted Average Grant Date Fair Value
Outstanding at December 31, 2019 | 5,179,217 |  |  | $ | 11.28 |
Granted | 4,073,495 |  |  | 9.91 |
Vested and converted to common stock(1) | (2,410,931) |  |  | 10.79 |
Canceled | (120,276) |  |  | 11.05 |
Outstanding at December 31, 2020(2) | 6,721,505 |  |  | $ | 10.41 |
__________ (1)The total fair value of RSUs/PSUs that vested and converted to common stock during the years ended December 31, 2020, 2019 and 2018 was $26 million, $27 million and $25 million, respectively. (2)As of December 31, 2020, there was $16 million of unrecognized compensation cost related to RSUs/PSUs, which is expected to be recognized over a weighted average period of 1.5 years.
Black-Scholes Model assumptions for calculating ESPP fair values | The fair values of the stock purchase rights of the ESPP offerings were calculated using a Black-Scholes option pricing model with the following weighted average assumptions:
| Years Ended December 31,
(Dollars per share) | 2020 |  | 2019 |  | 2018
Risk-free interest rate | 0.12 | % |  | 1.87 | % |  | 2.44 | %
Expected volatility | 49 | % |  | 29 | % |  | 27 | %
Expected dividend rate | 1.76 | % |  | 1.34 | % |  | — | %
Expected life of the option | 1 year |  | 1 year |  | 1 year
Weighted average fair value of stock purchase rights | $ | 1.74 |  |  | $ | 1.77 |  |  | $ | 2.32 |

X
- Definition Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Restricted Stock Units And Performance Stock Units Vested And Expected To Vest [Table Text Block] + References No definition available. + Details
Name: | slm_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockUnitsAndPerformanceStockUnitsVestedAndExpectedToVestTableTableTextBlock
Namespace Prefix: | slm_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration