Consolidated Statements of Cash Flows (Unaudited) $ in Millions	3 Months Ended	9 Months Ended
Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)
Cash flows from operating activities
Net income	$ 173	$ 540	$ 728
Adjustments to reconcile net income to net cash provided by operating activities:
(Gains) on sales of education loans			(78)
Losses on debt repurchases	20		32
Goodwill and acquired intangible asset impairment and amortization expense	4	17	14
Stock-based compensation expense		16	18
Mark-to-market (gains) losses on derivative and hedging activities, net		(607)	(295)
Provisions for loan losses	22	62	(66)
(Decrease) increase in accrued interest receivable		(51)	88
Increase (decrease) in accrued interest payable		56	(78)
Decrease in other assets		334	92
(Decrease) increase in other liabilities		(269)	79
Total adjustments		(442)	(194)
Net cash provided by operating activities		98	534
Cash flows from investing activities
Education loans originated and acquired		(1,765)	(4,708)
Proceeds from payments on education loans		8,488	8,190
Proceeds from sales of education loans			1,588
Other investing activities, net		89	43
Net cash provided by investing activities		6,812	5,113
Cash flows from financing activities
Borrowings collateralized by loans in trust - issued		2,243	5,992
Borrowings collateralized by loans in trust - repaid		(9,225)	(8,644)
Long-term unsecured notes issued			495
Long-term unsecured notes repaid		(15)	(1,558)
Other financing activities, net		70	97
Common stock repurchased		(315)	(450)
Common dividends paid		(69)	(82)
Net cash used in financing activities		(6,576)	(5,873)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents		334	(226)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period		3,578	3,537
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	3,311	3,912	3,311
Supplemental disclosure of cash flow information:
Interest paid		1,208	1,050
Income taxes paid		29	144
Income taxes refunds received		(6)	(9)
Noncash activity:
Investing activity - Held-to-maturity asset backed securities retained related to sales of education loans			83
Operating activity - Servicing assets recognized upon sales of education loans			21
Reconciliation of the Consolidated Statements of Cash Flows to the Consolidated Balance Sheets:
Cash and cash equivalents	1,050	1,364	1,050
Restricted cash and restricted cash equivalents	2,261	2,548	2,261
Total cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	$ 3,311	3,912	3,311
Asset-backed Securities, Securitized Loans and Receivables [Member]
Cash flows from financing activities
Asset-backed commercial paper conduits, net		$ 735	$ (1,723)

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Also includes the amount of loss from the write-down of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

No definition available.