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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2021
Dec. 31, 2020
Investments    
Held-to-maturity $ 88 $ 15
Other 225 270
Total investments 313 285
Cash and cash equivalents 1,453 1,183
Restricted cash and cash equivalents 2,309 2,354
Goodwill and acquired intangible assets, net 726 735
Other assets 3,272 3,492
Total assets 83,348 87,412
Liabilities    
Short-term borrowings 4,068 6,613
Long-term borrowings 75,814 77,332
Other liabilities 754 1,020
Total liabilities 80,636 84,965
Commitments and contingencies
Equity    
Common stock, par value $0.01 per share, 1.125 billion shares authorized: 458 million and 454 million shares issued, respectively 4 4
Additional paid-in capital 3,268 3,226
Accumulated other comprehensive loss (net of tax benefit of $68 and $90, respectively) (209) (274)
Retained earnings 3,828 3,331
Total Navient Corporation stockholders’ equity before treasury stock 6,891 6,287
Less: Common stock held in treasury at cost: 290 million and 267 million shares, respectively (4,190) (3,854)
Total Navient Corporation stockholders’ equity 2,701 2,433
Noncontrolling interest 11 14
Total equity 2,712 2,447
Total liabilities and equity 83,348 87,412
Assets and Liabilities of Consolidated Variable Interest Entities [Member]    
Assets    
Loans, net 72,552 76,726
Investments    
Total assets 76,406 80,468
Investments    
Restricted cash 2,275 2,322
Other assets, net 1,579 1,420
Liabilities    
Short-term borrowings 2,026 5,595
Long-term borrowings 68,850 68,900
Net assets of consolidated variable interest entities 5,530 5,973
FFELP Loans [Member]    
Assets    
Loans, net 55,550 58,284
FFELP Loans [Member] | Assets and Liabilities of Consolidated Variable Interest Entities [Member]    
Assets    
Loans, net 55,228 58,068
Private Education Loans [Member]    
Assets    
Loans, net 19,725 21,079
Private Education Loans [Member] | Assets and Liabilities of Consolidated Variable Interest Entities [Member]    
Assets    
Loans, net $ 17,324 $ 18,658