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v3.21.2

Allowance for Loan Losses - Allowance for Credit Losses and Recorded Investments in Loans (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended |  |  |  |
--- | --- | --- | --- | --- | --- | ---
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019
Allowance for Loan Losses |  |  |  |  |  |  |  |
Allowance at beginning of period | $ 1,274.0 | $ 1,394.0 | $ 1,377.0 | $ 1,112.0 |  |  |  |
Provision: |  |  |  |  |  |  |  |
Reversal of allowance related to loan sales | (5.0) |  | (107.0) |  |  |  |  |
Remaining provision | 4.0 |  | 19.0 |  |  |  |  |
Total provision | (1.0) | 44.0 | (88.0) | 139.0 |  |  |  |
Charge-offs(2) | (40.0) | (60.0) | (81.0) | (147.0) |  |  |  |
Decrease in expected future recoveries on charged-off loans | 20.0 | 22.0 | 45.0 | 39.0 |  |  |  |
Allowance at end of period | 1,253.0 | 1,400.0 | 1,253.0 | 1,400.0 |  |  |  |
Plus: expected future recoveries on charged-off loans | 434.0 | 549.0 | 434.0 | 549.0 |  |  |  |
Allowance at end of period excluding expected future recoveries on charged-off loans | 1,687.0 | 1,949.0 | 1,687.0 | 1,949.0 |  |  |  |
ASU 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment |  |  |  |  |  |  |  |
Allowance for Loan Losses |  |  |  |  |  |  |  |
Allowance at beginning of period |  |  |  | 257.0 |  |  |  |
ASU 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] |  |  |  |  |  |  |  |
Allowance for Loan Losses |  |  |  |  |  |  |  |
Allowance at beginning of period |  |  |  | 1,369.0 |  |  |  |
FFELP Loans [Member] |  |  |  |  |  |  |  |
Allowance for Loan Losses |  |  |  |  |  |  |  |
Allowance at beginning of period | 282.0 | 311.0 | 288.0 | 64.0 |  |  |  |
Provision: |  |  |  |  |  |  |  |
Total provision |  | 3.0 |  | 9.0 |  |  |  |
Charge-offs(2) | (5.0) | (12.0) | (11.0) | (31.0) |  |  |  |
Allowance at end of period | 277.0 | 302.0 | 277.0 | 302.0 |  |  |  |
Allowance at end of period excluding expected future recoveries on charged-off loans | $ 277.0 | $ 302.0 | $ 277.0 | $ 302.0 |  |  |  |
Charge-offs as a percentage of average loans in repayment (annualized) | 0.04% | 0.11% | 0.05% | 0.13% |  |  |  |
Allowance coverage of charge-offs (annualized) | 15.5 | 6.3 | 12.5 | 4.8 |  |  |  |
Allowance as a percentage of the ending total loan balance | 0.50% | 0.50% | 0.50% | 0.50% |  |  |  |
Allowance as a percentage of ending loans in repayment | 0.60% | 0.70% | 0.60% | 0.70% |  |  |  |
Ending total loans | $ 55,827.0 | $ 61,223.0 | $ 55,827.0 | $ 61,223.0 |  |  |  |
Average loans in repayment | 46,348.0 | 44,144.0 | 46,694.0 | 48,302.0 |  |  |  |
Ending loans in repayment | 45,854.0 | 42,640.0 | 45,854.0 | 42,640.0 |  |  |  |
FFELP Loans [Member] | ASU 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment |  |  |  |  |  |  |  |
Allowance for Loan Losses |  |  |  |  |  |  |  |
Allowance at beginning of period |  |  |  | 260.0 |  |  |  |
FFELP Loans [Member] | ASU 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] |  |  |  |  |  |  |  |
Allowance for Loan Losses |  |  |  |  |  |  |  |
Allowance at beginning of period |  |  |  | 324.0 |  |  |  |
Private Education Loans [Member] |  |  |  |  |  |  |  |
Allowance for Loan Losses |  |  |  |  |  |  |  |
Allowance at beginning of period | 992.0 | 1,083.0 | 1,089.0 | 1,048.0 |  |  |  |
Provision: |  |  |  |  |  |  |  |
Reversal of allowance related to loan sales | (5.0) |  | (107.0) |  |  |  |  |
Remaining provision | 4.0 |  | 19.0 |  |  |  |  |
Total provision | (1.0) | 41.0 | (88.0) | 130.0 |  |  |  |
Charge-offs(2) | (35.0) | (48.0) | (70.0) | (116.0) |  |  |  |
Decrease in expected future recoveries on charged-off loans | 20.0 | 22.0 | 45.0 | 39.0 |  |  |  |
Allowance at end of period | 976.0 | 1,098.0 | 976.0 | 1,098.0 |  |  |  |
Plus: expected future recoveries on charged-off loans | 434.0 | 549.0 | 434.0 | 549.0 | $ 454.0 | $ 479.0 | $ 571.0 | $ 588.0
Allowance at end of period excluding expected future recoveries on charged-off loans | $ 1,410.0 | $ 1,647.0 | $ 1,410.0 | $ 1,647.0 |  |  |  |
Charge-offs as a percentage of average loans in repayment (annualized) | 0.71% | 0.97% | 0.70% | 1.13% |  |  |  |
Allowance coverage of charge-offs (annualized) | 10.0 | 8.6 | 10.0 | 7.1 |  |  |  |
Allowance as a percentage of the ending total loan balance | 6.80% | 7.30% | 6.80% | 7.30% |  |  |  |
Allowance as a percentage of ending loans in repayment | 7.20% | 8.20% | 7.20% | 8.20% |  |  |  |
Ending total loans | $ 20,701.0 | $ 22,560.0 | $ 20,701.0 | $ 22,560.0 |  |  |  |
Average loans in repayment | 19,667.0 | 19,731.0 | 20,272.0 | 20,666.0 |  |  |  |
Ending loans in repayment | $ 19,692.0 | $ 20,201.0 | $ 19,692.0 | 20,201.0 |  |  |  |
Private Education Loans [Member] | ASU 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment |  |  |  |  |  |  |  |
Allowance for Loan Losses |  |  |  |  |  |  |  |
Allowance at beginning of period |  |  |  | (3.0) |  |  |  |
Private Education Loans [Member] | ASU 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] |  |  |  |  |  |  |  |
Allowance for Loan Losses |  |  |  |  |  |  |  |
Allowance at beginning of period |  |  |  | $ 1,045.0 |  |  |  |

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