Navient corporation (NAVI)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13
Operating activities
Net income (loss)

-106

172

144

153

128

72

113

84

126

-84

176

112

88

146

230

124

181

273

237

182

292

252

359

307

219

269

260

542

346

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Income from discontinued operations, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

59

8

38

1

Gains on loans and investments, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

7

5

-

-

-

-

-5

0

252

55

Gains on debt repurchases

-

-14

0

44

15

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

19

23

Goodwill and acquired intangible asset impairment and amortization expense

5

7

5

11

7

8

23

7

9

6

6

5

6

14

12

6

4

5

3

3

1

2

1

2

4

3

4

3

3

Stock-based compensation expense

9

5

3

5

12

3

4

5

13

9

7

5

14

4

4

6

12

2

4

11

12

6

5

10

18

10

8

10

19

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

-441

81

-38

-128

-45

-141

41

0

63

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provisions for loan losses

95

-

-

-

76

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized gains on derivative and hedging activities

-

-

-

-

-

-

-

-

-

-

-

-

-13

-

153

19

131

244

175

138

224

136

264

216

181

60

54

192

138

Provisions for loan losses

-

-

-

-

-

86

85

112

87

109

105

105

107

102

106

110

111

135

123

198

125

157

140

165

185

190

207

201

241

(Increase) decrease in restricted cash other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-6

5

-16

13

-70

7

61

-42

50

-5

8

0

-12

15

Decrease in accrued interest receivable

-79

45

-101

53

-75

106

-102

139

-18

119

-62

32

-60

124

-48

21

-71

21

-94

46

-148

211

-73

46

-109

-6

32

61

-19

Decrease in accrued interest payable

-70

21

-88

28

-57

54

-82

119

-33

44

-50

82

-65

67

-34

20

-145

51

-86

53

-60

81

-76

37

-69

38

-67

4

2

Decrease in other assets

-51

-58

15

-86

-62

-127

-34

7

-167

-272

-114

-15

-84

-139

-72

-109

-308

-247

-392

-254

-153

-35

-251

-303

-257

-80

-41

-213

-291

Decrease in other liabilities

-51

-13

57

-32

-145

128

-66

9

-40

60

-88

-27

50

-90

60

88

-64

-5

-174

-24

64

-76

-29

43

11

-2

113

-40

-158

Total adjustments

559

16

165

181

60

413

60

114

158

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

357

-

-

-

-

-

-

-

-

-

-

-

-

472

472

383

531

Cash provided by operating activities - discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

96

6

42

-2

Total net cash provided by operating activities

453

188

309

334

188

485

173

198

284

-

-

-

-

-

-

-

342

-

404

556

499

49

502

555

558

568

478

425

529

Investing activities
Education loans acquired and originated

1,921

1,964

1,477

896

1,074

1,027

1,070

734

821

1,028

632

4,913

798

838

662

646

1,537

796

1,106

1,004

830

9,517

1,369

942

1,975

866

1,611

519

1,559

Proceeds from payments on education loans

3,020

-

-

-

3,455

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on education loans

-

-

-

-

-

3,158

3,475

3,793

3,547

3,448

3,539

3,833

3,918

3,713

3,752

3,724

3,734

3,350

3,539

3,637

3,407

3,229

3,087

2,915

3,090

2,604

2,894

2,916

3,349

Proceeds from sales of education loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

183

0

193

193

-

-

-

-

61

0

481

226

Other investing activities, net

114

-2

25

-5

-27

85

-38

24

5

18

-110

195

-15

3

-47

120

-69

-177

28

42

-24

25

-40

11

-119

-88

59

-50

-65

Purchases of available-for-sale securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

3

25

29

20

10

14

Proceeds from maturities of available-for-sale securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

0

1

2

10

8

11

9

Purchases of other securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

1

42

-

-

-

-

472

209

39

65

87

144

51

93

Proceeds from sales and maturities of other securities

-

-

-

-

-

-

-

-

-

4

4

7

8

5

3

0

41

73

23

0

1

481

212

40

67

92

156

39

94

Purchase of subsidiaries, net of cash and restricted cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

161

0

0

181

-

-

-

-

-

-

-

-

Decrease in restricted cash variable interest entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

300

222

-126

-

106

-275

221

-697

189

-504

-107

Total net cash provided by investing activities

985

1,079

1,525

2,473

2,408

2,161

2,443

3,035

2,721

2,300

2,943

-1,268

3,143

2,784

3,111

3,202

2,185

3,337

2,049

2,560

2,740

-6,536

1,655

2,236

992

2,570

1,035

3,421

2,184

Financing activities
Borrowings collateralized by loans in trust - issued

1,976

1,770

1,286

2,353

2,510

1,862

1,701

1,513

3,930

1,416

2,934

2,171

1,919

1,895

1,005

2,246

1,545

901

686

1,746

1,678

1,667

1,716

744

2,649

992

2,355

3,599

2,588

Borrowings collateralized by loans in trust - repaid

3,065

3,486

3,155

3,122

4,508

3,579

3,687

3,123

3,668

2,990

3,739

3,987

3,203

3,396

3,227

3,375

3,228

3,757

4,247

3,333

3,369

3,125

3,301

3,274

2,834

2,653

4,376

3,257

3,182

Long-term notes issued

682

-

-

-

-

-

-

-

-

260

0

546

807

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term notes repaid

718

1,013

0

907

30

1,417

87

1,276

167

97

549

251

567

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

ED Conduit Program Facility, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

19,102

0

-6,968

-2,583

Other long-term notes issued

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

493

983

0

0

834

2,442

1,223

0

1,489

Other long-term notes repaid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

621

254

974

-

426

1,059

590

970

152

505

1,535

1,858

47

863

1,433

Other financing activities, net

-241

61

-101

-35

-114

-85

-31

13

-59

42

-38

93

-130

-247

-138

34

113

-134

28

-198

59

323

-230

169

-11

-113

-16

-408

-358

Retail and other deposits, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

640

86

282

428

43

396

Common stock repurchased

335

77

130

126

107

-

-

-

-

0

165

165

110

180

200

175

200

170

175

300

300

168

167

65

200

200

0

201

199

Common dividends paid

31

35

36

37

39

40

41

43

42

43

42

45

46

47

49

51

54

58

58

61

63

60

62

63

64

65

65

66

68

Total net cash used in financing activities

-1,451

-1,746

-2,000

-2,601

-3,638

-2,632

-2,376

-4,022

-1,854

-2,411

-3,330

659

-3,260

-3,720

-3,008

-3,422

-2,953

-3,499

-2,762

-3,553

-2,631

5,988

-1,851

-4,897

-2,998

-2,277

-511

-4,204

-2,928

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

-13

-479

-166

206

-1,042

14

240

-789

1,151

133

-103

-336

240

-703

446

209

-426

289

-309

-437

608

-499

306

-2,106

-1,448

861

1,002

-358

-215

Cash disbursements made:
Interest

712

768

866

942

903

945

897

820

798

751

742

709

670

618

595

573

515

492

498

491

500

494

484

486

519

517

525

553

568

Income taxes paid

2

32

39

18

4

2

31

22

2

50

4

94

9

85

77

67

20

21

0

66

1

145

147

154

38

116

238

267

15

Income taxes received

-

-

-

-

-

3

1

0

2

-

-

-

-

2

0

0

2

-

-

-

-

1

37

69

1

1

1

17

1

Preferred stock dividends paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1

5

5

5

5

5

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

8,137

3,665

Borrowings removed related to sale of Residual Interest in securitization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

8,403

3,681

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

281

1,034

136

-727

-1,350

752

-136

-1,601

-1,848

-999

-1,731

2,297

-1,930

-

-

-

-

-

-344

348

539

-

345

-4,161

1,918

-1,099

-8

3,922

427