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Parent Only Statements (Tables) | 12 Months Ended
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Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract] |
Parent only Condensed Balance Sheets | Parent Only Condensed Balance Sheets
|  | December 31,
|  | 2020 |  | 2019
Assets |  |  |  |
Cash and cash equivalents |  | $ | 539,074 |  |  | $ | 153,508 |
Total investments in subsidiaries (primarily Sallie Mae Bank) |  | 2,689,027 |  |  | 3,326,578 |
Income taxes receivables, net |  | 1,835 |  |  | — |
Tax indemnification receivable |  | 18,492 |  |  | 27,558 |
Due from subsidiaries, net |  | 47,357 |  |  | 42,544 |
Other assets |  | 2,457 |  |  | 2,579 |
Total assets |  | $ | 3,298,242 |  |  | $ | 3,552,767 |
Liabilities and Equity |  |  |  |
Liabilities |  |  |  |
Long-term borrowings |  | $ | 692,879 |  |  | $ | 198,159 |
Income taxes payable, net |  | — |  |  | 11,457 |
Payable due to Navient |  | 8,531 |  |  | 9,064 |
Other liabilities |  | 33,997 |  |  | 22,251 |
Total liabilities |  | 735,407 |  |  | 240,931 |
Equity |  |  |  |
Preferred stock, par value $0.20 per share, 20 million shares authorized: |  |  |  |
Series B: 2.5 million and 4 million shares issued, respectively, at stated value of $100 per share |  | 251,070 |  |  | 400,000 |
Common stock, par value $0.20 per share, 1.125 billion shares authorized: 456.7 million and 453.6 million shares issued, respectively |  | 91,346 |  |  | 90,720 |
Additional paid-in capital |  | 1,331,247 |  |  | 1,307,630 |
Accumulated other comprehensive loss (net of tax benefit of $(10,908) and $(3,995), respectively) |  | (34,200) |  |  | (12,367) |
Retained earnings |  | 1,722,365 |  |  | 1,850,512 |
Total SLM Corporation stockholders’ equity before treasury stock |  | 3,361,828 |  |  | 3,636,495 |
Less: Common stock held in treasury at cost: 81.4 million and 32.5 million shares, respectively |  | (798,993) |  |  | (324,659) |
Total equity |  | 2,562,835 |  |  | 3,311,836 |
Total liabilities and equity |  | $ | 3,298,242 |  |  | $ | 3,552,767 |
Parent only Condensed Statements of Income | Parent Only Condensed Statements of Income
|  | Years Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Interest income |  | $ | 452 |  |  | $ | 2,663 |  |  | $ | 4,693 |
Interest expense |  | 14,896 |  |  | 11,060 |  |  | 11,059 |
Net interest loss |  | (14,444) |  |  | (8,397) |  |  | (6,366) |
Non-interest income (loss) |  | 2,820 |  |  | (10,856) |  |  | (93,176) |
Non-interest expenses |  | 57,945 |  |  | 39,423 |  |  | 41,893 |
Loss before income tax benefit and equity in net income from subsidiaries |  | (69,569) |  |  | (58,676) |  |  | (141,435) |
Income tax benefit |  | (11,235) |  |  | (25,260) |  |  | (96,170) |
Equity in net income from subsidiaries (primarily Sallie Mae Bank) |  | 939,024 |  |  | 611,692 |  |  | 532,741 |
Net income |  | 880,690 |  |  | 578,276 |  |  | 487,476 |
Preferred stock dividends |  | 9,734 |  |  | 16,837 |  |  | 15,640 |
Net income attributable to SLM Corporation common stock |  | $ | 870,956 |  |  | $ | 561,439 |  |  | $ | 471,836 |
Parent only Condensed Statements of Cash Flows | Parent Only Condensed Statements of Cash Flows
|  | Years Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Cash flows from operating activities: |  |  |  |  |  |
Net income |  | $ | 880,690 |  |  | $ | 578,276 |  |  | $ | 487,476 |
Adjustments to reconcile net income to net cash (used in) provided by operating activities: |  |  |  |  |  |
Undistributed earnings of subsidiaries |  | (939,024) |  |  | (611,692) |  |  | (532,741) |
Dividends received from Sallie Mae Bank |  | 579,400 |  |  | 254,000 |  |  | — |
Reduction of tax indemnification receivable |  | 9,066 |  |  | 11,649 |  |  | 92,815 |
Amortization of unsecured debt upfront fees |  | 1,029 |  |  | 811 |  |  | 809 |
Gain on sale of Upromise subsidiary, net |  | (11,331) |  |  | — |  |  | — |
Decrease in investment in subsidiaries, net |  | 53,698 |  |  | 2,611 |  |  | 9,495 |
Decrease in tax indemnification receivable |  | — |  |  | — |  |  | 35,989 |
(Increase) decrease in due from subsidiaries, net |  | (4,813) |  |  | 6,254 |  |  | (11,277) |
Increase in other assets |  | (10,504) |  |  | (12,999) |  |  | (18,040) |
Decrease in income taxes payable, net |  | (13,292) |  |  | (25,814) |  |  | (123,083) |
Decrease in payable due to entity that is a subsidiary of Navient |  | (533) |  |  | (416) |  |  | (1,089) |
Increase (decrease) in other liabilities |  | 12,874 |  |  | (5,796) |  |  | 6,807 |
Total adjustments |  | (323,430) |  |  | (381,392) |  |  | (540,315) |
Net cash provided by (used in) operating activities |  | 557,260 |  |  | 196,884 |  |  | (52,839) |
Cash flows from investing activities: |  |  |  |  |  |
Proceeds from the sale of Upromise subsidiary, net |  | 16,922 |  |  | — |  |  | — |
Net cash provided by investing activities |  | 16,922 |  |  | — |  |  | — |
Cash flows from financing activities: |  |  |  |  |  |
Unsecured debt issued |  | 495,000 |  |  | — |  |  | — |
Issuance costs for unsecured debt offering |  | (1,309) |  |  | — |  |  | — |
Repurchase of Series B Preferred Stock |  | (68,055) |  |  | — |  |  | — |
Common stock dividends paid |  | (46,351) |  |  | (51,114) |  |  | — |
Preferred stock dividends paid |  | (9,734) |  |  | (16,837) |  |  | (15,640) |
Common stock repurchased |  | (558,167) |  |  | (167,201) |  |  | — |
Net cash used in financing activities |  | (188,616) |  |  | (235,152) |  |  | (15,640) |
Net increase (decrease) in cash and cash equivalents |  | 385,566 |  |  | (38,268) |  |  | (68,479) |
Cash and cash equivalents at beginning of year |  | 153,508 |  |  | 191,776 |  |  | 260,255 |
Cash and cash equivalents at end of year |  | $ | 539,074 |  |  | $ | 153,508 |  |  | $ | 191,776 |

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