Navient corporation (NAVI)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12
Operating activities
Net income (loss)

597

395

292

681

984

1,137

1,417

937

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
(Gains) on sale of education loans

16

-

3

-

-

-

-

-

Income from discontinued operations, net of tax

-

-

-

-

-

-

106

-2

Gains on loans and investments, net

-

-

-

-

-

-

302

-

Gains on debt repurchases

45

19

-3

1

21

-

42

145

Goodwill and acquired intangible asset impairment and amortization expense

30

47

23

36

12

9

13

27

Stock-based compensation expense

25

25

35

26

29

39

47

47

Mark-to-market losses on derivative and hedging activities, net

-130

-37

83

328

-

-

-

-

Unrealized gains on derivative and hedging activities

-

-

-

-

781

797

444

117

Provisions for loan losses

258

370

426

429

581

647

839

1,080

(Increase) decrease in restricted cash other

-

-

-

-

-66

64

11

-10

Decrease in accrued interest receivable

-78

125

29

26

-175

75

68

-361

Decrease in accrued interest payable

-96

58

11

-92

-42

-27

-23

-41

Decrease in other assets

-191

-321

-485

-628

-1,046

-846

-625

-437

Decrease in other liabilities

-133

31

-5

-6

-139

-51

-87

38

Total adjustments

422

745

866

-

-

-

-

-

Total net cash provided by operating activities

-

-

-

-

1,910

-

1,858

2,636

Cash provided by operating activities - discontinued operations

-

-

-

-

-

-

142

-

Total net cash provided by operating activities

1,019

1,140

1,158

1,347

-

1,664

2,000

2,636

Investing activities
Education loans acquired and originated

5,411

3,652

7,371

3,683

3,736

13,803

4,555

6,663

Principal payments on education loans

12,472

13,973

14,738

14,923

13,933

12,321

11,763

17,198

Proceeds from sales of education loans

408

-

-

-

569

-

768

531

Other investing activities, net

-9

76

88

7

-131

-123

-144

-41

Purchases of available-for-sale securities

-

-

-

-

-

28

73

63

Proceeds from maturities of available-for-sale securities

-

-

-

-

1

4

38

71

Purchases of other securities

-

-

-

-

187

785

375

245

Proceeds from sales and maturities of other securities

7

115

23

49

97

800

381

206

Purchase of subsidiaries, net of cash and restricted cash acquired

-

-

184

-

342

-

-

-

Decrease in restricted cash variable interest entities

-

-

-

-

-

-

-1,119

-769

Total net cash provided by investing activities

7,485

10,360

7,118

11,282

10,686

-1,653

9,210

11,845

Financing activities
Distribution of consumer banking business

-

-

-

-

-

2,217

-

-

Borrowings collateralized by loans in trust - issued

7,919

9,006

8,440

6,691

5,011

6,776

9,534

13,727

Borrowings collateralized by loans in trust - repaid

14,271

14,057

13,919

13,226

14,706

12,534

13,468

15,953

Long-term notes issued

-

495

1,613

1,231

493

-

-

-

Long-term notes repaid

1,950

2,947

1,464

2,603

2,787

-

-

-

Other short-term borrowings issued

-

-

-

-

-

-

-

23

Other short-term borrowings repaid

-

-

-

-

-

-

-

307

ED Conduit Program Facility, net

-

-

-

-

-

-

9,551

12,187

Other long-term notes issued

-

-

-

-

-

1,817

5,154

4,713

Other long-term notes repaid

-

-

-

-

-

3,162

4,201

3,307

Other financing activities, net

-189

-162

-33

-238

-245

251

-895

272

Retail and other deposits, net

-

-

-

-

-

726

1,149

1,124

Common stock repurchased

440

220

440

755

945

600

600

900

Common dividends paid

147

166

176

201

240

249

264

237

Total net cash used in financing activities

-9,985

-10,884

-8,342

-13,103

-12,445

-3,758

-9,920

-13,375

Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents

-1,481

616

-66

-474

151

-3,747

1,290

1,106

Cash disbursements made:
Interest

3,479

3,460

2,872

2,301

1,981

1,983

2,163

2,527

Income taxes paid

93

57

157

249

88

484

636

569

Income taxes received

4

6

1

4

14

108

20

12

Preferred stock dividends paid

-

-

-

-

-

6

20

20

Non-cash activities
Investing activity - Education loans

-

-

1,746

-

-

-

-

-

Investing activity - Held-to-maturity asset backed securities retained related to sales of education loans

22

-

-

-

-

-

-

-

Investing activity - Education loans and restricted cash acquired

-

-

-

-

-

-

0

402

Operating activity - Other assets acquired and other liabilities assumed, net

-

-

137

-

-

-

-

-

Operating activity - Servicing assets recognized upon sales of education loans

3

-

-

-

-

-

-

-

Financing activity - Borrowings assumed in acquisition of education loans

-

-

1,883

-

-

-

0

425

Education loans and other assets removed related to sale of Residual Interest in securitization

-

-

-

-

-

-

11,802

-

Borrowings removed related to sale of Residual Interest in securitization

-

-

-

-

-

-

12,084

-

Asset-backed Securities, Securitized Loans and Receivables [Member]
Asset-backed commercial paper conduits, net

-907

-2,833

-2,363

-4,002

-

-

3,242

-323