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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income:        
Education loans $ 1,032 $ 1,074 $ 3,096 $ 3,227
Other loans 2 1 5 5
Cash and investments 5 2 17 6
Total interest income 1,039 1,077 3,118 3,238
Total interest expense 627 524 1,791 1,553
Net interest income 412 553 1,327 1,685
Less: provisions for loan losses 106 123 327 446
Net interest income after provisions for loan losses 306 430 1,000 1,239
Other income (loss):        
Servicing revenue 76 76 230 258
Asset recovery and business processing revenue 97 85 288 273
Other income (loss)     (36) 15
Gains on sales of loans and investments       12
Gains on debt repurchases 1   1  
Gains (losses) on derivative and hedging activities, net 137 20 111 73
Total other income 311 181 594 631
Expenses:        
Salaries and benefits 122 106 379 344
Other operating expenses 106 122 327 339
Total operating expenses 228 228 706 683
Goodwill and acquired intangible asset impairment and amortization expense 12 3 22 7
Restructuring and other reorganization expenses       32
Total expenses 240 231 728 722
Income from continuing operations, before income tax expense 377 380 866 1,148
Income tax expense 147 144 331 438
Net income from continuing operations 230 236 535 710
Income from discontinued operations, net of tax expense   1   1
Net income 230 237 535 711
Less: net income (loss) attributable to noncontrolling interest 0 0 0 0
Net income attributable to Navient Corporation $ 230 $ 237 $ 535 $ 711
Basic earnings per common share attributable to Navient Corporation:        
Continuing operations $ 0.74 $ 0.64 $ 1.65 $ 1.86
Discontinued operations 0 0 0 0
Total $ 0.74 $ 0.64 $ 1.65 $ 1.86
Average common shares outstanding 310 369 324 382
Diluted earnings per common share attributable to Navient Corporation:        
Continuing operations $ 0.73 $ 0.63 $ 1.63 $ 1.83
Discontinued operations 0 0 0 0
Total $ 0.73 $ 0.63 $ 1.63 $ 1.83
Average common and common equivalent shares outstanding 316 375 329 389
Dividends per common share attributable to Navient Corporation $ 0.16 $ 0.16 $ 0.48 $ 0.48
FFELP Loans [Member]        
Interest income:        
Education loans $ 631 $ 630 $ 1,883 $ 1,892
Less: provisions for loan losses 13 7 30 19
Private Education Loans [Member]        
Interest income:        
Education loans 401 444 1,213 1,335
Less: provisions for loan losses $ 92 $ 117 $ 296 $ 428