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Earnings per Common Share (Tables) | 9 Months Ended
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Sep. 30, 2016
Earnings Per Share [Abstract] |
Schedule of Earnings per Common Share | Basic earnings per common share (“EPS”) are calculated using the weighted average number of shares of common stock outstanding during each period. A reconciliation of the numerators and denominators of the basic and diluted EPS calculations follows.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(In millions, except per share data) |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to Navient Corporation |  | $ | 230 |  |  | $ | 237 |  |  | $ | 535 |  |  | $ | 711 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares used to compute basic EPS |  |  | 310 |  |  |  | 369 |  |  |  | 324 |  |  |  | 382 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dilutive effect of stock options, non-vested restricted stock, restricted stock units and Employee Stock Purchase Plans (“ESPPs”)(1) |  |  | 6 |  |  |  | 6 |  |  |  | 5 |  |  |  | 7 |
Dilutive potential common shares(2) |  |  | 6 |  |  |  | 6 |  |  |  | 5 |  |  |  | 7 |
Weighted average shares used to compute diluted EPS |  |  | 316 |  |  |  | 375 |  |  |  | 329 |  |  |  | 389 |
Basic earnings (loss) per common share attributable to Navient Corporation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | .74 |  |  | $ | .64 |  |  | $ | 1.65 |  |  | $ | 1.86 |
Discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | .74 |  |  | $ | .64 |  |  | $ | 1.65 |  |  | $ | 1.86 |
Diluted earnings (loss) per common share attributable to Navient Corporation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | .73 |  |  | $ | .63 |  |  | $ | 1.63 |  |  | $ | 1.83 |
Discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | .73 |  |  | $ | .63 |  |  | $ | 1.63 |  |  | $ | 1.83 |
(1) | Includes the potential dilutive effect of additional common shares that are issuable upon exercise of outstanding stock options, non-vested restricted stock, restricted stock units, and the outstanding commitment to issue shares under applicable ESPPs, determined by the treasury stock method.
(2) | For the three months ended September 30, 2016 and 2015, stock options covering approximately 4 million and 6 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive. For the nine months ended September 30, 2016 and 2015, stock options covering approximately 5 million and 4 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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