| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | Mar'17 | Dec'16 | Sep'16 | Jun'16 | Mar'16 | Dec'15 | Sep'15 | Jun'15 | Mar'15 | Dec'14 | Sep'14 | Jun'14 | Mar'14 | Dec'13 | Sep'13 | Jun'13 | Mar'13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Interest income: | ||||||||||||||||||||||||||||
Education loans | ||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,074,000 | 1,060,000 | 1,093,000 | - | - | - | - | - | - | - | - |
FFELP Loans | ||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 698,000 | 703,000 | 735,000 |
Private Education Loans | ||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 635,000 | 627,000 | 623,000 |
Cash and investments | ||||||||||||||||||||||||||||
12,000 | 18,000 | 23,000 | 25,000 | 27,000 | 30,000 | 26,000 | 24,000 | 17,000 | 14,000 | 12,000 | 10,000 | 7,000 | 6,000 | 5,000 | 6,000 | 5,000 | 2,000 | 2,000 | 2,000 | 2,000 | 1,000 | 2,000 | 3,000 | 3,000 | 4,000 | 4,000 | 4,000 | 5,000 |
Total interest income | ||||||||||||||||||||||||||||
987,000 | 1,069,000 | 1,166,000 | 1,204,000 | 1,234,000 | 1,268,000 | 1,241,000 | 1,227,000 | 1,172,000 | 1,158,000 | 1,140,000 | 1,070,000 | 1,015,000 | 1,028,000 | 1,039,000 | 1,028,000 | 1,051,000 | 1,057,000 | 1,077,000 | 1,064,000 | 1,097,000 | 1,127,000 | 1,132,000 | 1,175,000 | 1,296,000 | 1,334,000 | 1,340,000 | 1,337,000 | 1,366,000 |
Total interest expense | ||||||||||||||||||||||||||||
714,000 | 774,000 | 854,000 | 911,000 | 949,000 | 961,000 | 935,000 | 929,000 | 843,000 | 792,000 | 785,000 | 719,000 | 675,000 | 650,000 | 627,000 | 599,000 | 565,000 | 521,000 | 524,000 | 515,000 | 514,000 | 512,000 | 508,000 | 513,000 | 530,000 | 545,000 | 541,000 | 553,000 | 571,000 |
Net interest income | ||||||||||||||||||||||||||||
273,000 | 295,000 | 312,000 | 293,000 | 285,000 | 307,000 | 306,000 | 298,000 | 329,000 | 366,000 | 355,000 | 351,000 | 340,000 | 378,000 | 412,000 | 429,000 | 486,000 | 536,000 | 553,000 | 549,000 | 583,000 | 615,000 | 624,000 | 662,000 | 766,000 | 789,000 | 799,000 | 784,000 | 795,000 |
Less: provisions for loan losses | ||||||||||||||||||||||||||||
95,000 | - | - | - | 76,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Less: provisions for loan losses | ||||||||||||||||||||||||||||
- | - | 64,000 | 68,000 | - | 86,000 | 85,000 | 112,000 | 87,000 | 109,000 | 105,000 | 105,000 | 107,000 | 102,000 | 106,000 | 110,000 | 111,000 | 135,000 | 123,000 | 198,000 | 125,000 | 157,000 | 140,000 | 165,000 | 185,000 | 190,000 | 207,000 | 201,000 | 241,000 |
Net interest income after provisions for loan losses | ||||||||||||||||||||||||||||
178,000 | 245,000 | 248,000 | 225,000 | 209,000 | 221,000 | 221,000 | 186,000 | 242,000 | 257,000 | 250,000 | 246,000 | 233,000 | 276,000 | 306,000 | 319,000 | 375,000 | 401,000 | 430,000 | 351,000 | 458,000 | 458,000 | 484,000 | 497,000 | 581,000 | 599,000 | 592,000 | 583,000 | 554,000 |
Other income (loss): | ||||||||||||||||||||||||||||
Servicing revenue | ||||||||||||||||||||||||||||
58,000 | 58,000 | 60,000 | 60,000 | 62,000 | 64,000 | 70,000 | 71,000 | 69,000 | 69,000 | 75,000 | 70,000 | 76,000 | 75,000 | 76,000 | 71,000 | 82,000 | 81,000 | 76,000 | 106,000 | 77,000 | 83,000 | 81,000 | 73,000 | 61,000 | 68,000 | 83,000 | 69,000 | 70,000 |
Asset recovery and business processing revenue | ||||||||||||||||||||||||||||
110,000 | 123,000 | 123,000 | 123,000 | 119,000 | 116,000 | 106,000 | 99,000 | 109,000 | 107,000 | 157,000 | 111,000 | 100,000 | 102,000 | 97,000 | 101,000 | 90,000 | 94,000 | 85,000 | 99,000 | 89,000 | 80,000 | 65,000 | 132,000 | 111,000 | - | 104,000 | 109,000 | - |
Other income (loss) | ||||||||||||||||||||||||||||
7,000 | 9,000 | 9,000 | 11,000 | 16,000 | -9,000 | 28,000 | 13,000 | -15,000 | 7,000 | 4,000 | 6,000 | -8,000 | 43,000 | -2,000 | -21,000 | -13,000 | 2,000 | 1,000 | 7,000 | 7,000 | 33,000 | 34,000 | 9,000 | 6,000 | 33,000 | 9,000 | 24,000 | 34,000 |
Gains on sales of loans | ||||||||||||||||||||||||||||
- | - | - | 16,000 | - | - | - | - | - | - | 3,000 | - | - | - | - | - | - | -21,000 | 0 | 7,000 | 5,000 | - | - | - | - | -5,000 | 1,000 | 251,000 | 55,000 |
Contingency revenue | ||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 99,000 |
Gains on debt repurchases | ||||||||||||||||||||||||||||
- | -14,000 | 0 | 44,000 | 15,000 | - | -1,000 | -7,000 | - | - | -1,000 | - | - | - | 1,000 | - | - | - | - | 0 | 0 | - | 0 | 0 | 0 | 0 | 0 | 19,000 | 23,000 |
Gains (losses) on derivative and hedging activities, net | ||||||||||||||||||||||||||||
-223,000 | 43,000 | 4,000 | -32,000 | 7,000 | -48,000 | 2,000 | -40,000 | 48,000 | 38,000 | 25,000 | -25,000 | -16,000 | 7,000 | 137,000 | -28,000 | 1,000 | 93,000 | 20,000 | -18,000 | 71,000 | -22,000 | 108,000 | 61,000 | -8,000 | -128,000 | -127,000 | 18,000 | -31,000 |
Total other income (loss) | ||||||||||||||||||||||||||||
-48,000 | 219,000 | 196,000 | 222,000 | 219,000 | 150,000 | 205,000 | 136,000 | 211,000 | 219,000 | 263,000 | 162,000 | 152,000 | 225,000 | 311,000 | 123,000 | 160,000 | 271,000 | 181,000 | 201,000 | 249,000 | 174,000 | 288,000 | 275,000 | 170,000 | 77,000 | 69,000 | 490,000 | 250,000 |
Salaries and benefits | ||||||||||||||||||||||||||||
124,000 | 115,000 | 120,000 | 125,000 | 128,000 | 127,000 | 121,000 | 125,000 | 134,000 | 137,000 | 128,000 | 124,000 | 130,000 | 122,000 | 122,000 | 124,000 | 132,000 | 123,000 | 106,000 | 115,000 | 123,000 | 112,000 | 109,000 | 116,000 | 142,000 | 123,000 | 128,000 | 128,000 | 125,000 |
Other operating expenses | ||||||||||||||||||||||||||||
127,000 | 121,000 | 131,000 | 116,000 | 128,000 | 126,000 | 134,000 | 76,000 | 141,000 | 123,000 | 110,000 | 106,000 | 108,000 | 124,000 | 106,000 | 106,000 | 115,000 | 112,000 | 122,000 | 110,000 | 107,000 | 103,000 | 86,000 | 95,000 | 224,000 | 183,000 | 129,000 | 116,000 | 110,000 |
Total operating expenses | ||||||||||||||||||||||||||||
251,000 | 236,000 | 251,000 | 241,000 | 256,000 | 253,000 | 255,000 | 201,000 | 275,000 | 260,000 | 238,000 | 230,000 | 238,000 | 246,000 | 228,000 | 230,000 | 247,000 | 235,000 | 228,000 | 225,000 | 230,000 | 215,000 | 195,000 | 211,000 | 366,000 | 306,000 | 257,000 | 244,000 | 235,000 |
Goodwill and acquired intangible asset impairment and amortization expense | ||||||||||||||||||||||||||||
5,000 | 6,000 | 6,000 | 11,000 | 7,000 | 9,000 | 23,000 | 6,000 | 9,000 | 5,000 | 6,000 | 6,000 | 6,000 | 14,000 | 12,000 | 6,000 | 4,000 | 5,000 | 3,000 | 3,000 | 1,000 | 1,000 | 2,000 | 2,000 | 4,000 | 3,000 | 4,000 | 3,000 | 3,000 |
Restructuring/other reorganization expenses | ||||||||||||||||||||||||||||
5,000 | 2,000 | 2,000 | 1,000 | 1,000 | 3,000 | 1,000 | 2,000 | 7,000 | - | - | - | - | - | - | - | - | 0 | 0 | 29,000 | 3,000 | 12,000 | 14,000 | 61,000 | 26,000 | 27,000 | 12,000 | 23,000 | 10,000 |
Total expenses | ||||||||||||||||||||||||||||
261,000 | 244,000 | 259,000 | 253,000 | 264,000 | 265,000 | 279,000 | 209,000 | 291,000 | 294,000 | 244,000 | 236,000 | 244,000 | 260,000 | 240,000 | 236,000 | 251,000 | 240,000 | 231,000 | 257,000 | 234,000 | 228,000 | 211,000 | 274,000 | 396,000 | 336,000 | 273,000 | 270,000 | 248,000 |
Income (loss) before income tax expense (benefit) | ||||||||||||||||||||||||||||
-131,000 | 220,000 | 185,000 | 194,000 | 164,000 | 106,000 | 147,000 | 113,000 | 162,000 | 182,000 | 269,000 | 172,000 | 141,000 | 241,000 | 377,000 | 206,000 | 284,000 | 432,000 | 380,000 | 295,000 | 473,000 | 404,000 | 561,000 | 498,000 | 355,000 | 340,000 | 388,000 | 803,000 | 556,000 |
Income tax expense (benefit) | ||||||||||||||||||||||||||||
-25,000 | 49,000 | 40,000 | 41,000 | 36,000 | 34,000 | 33,000 | 30,000 | 36,000 | 266,000 | 93,000 | 60,000 | 53,000 | 96,000 | 147,000 | 81,000 | 103,000 | 159,000 | 144,000 | 113,000 | 181,000 | 154,000 | 200,000 | 191,000 | 136,000 | 130,000 | 136,000 | 299,000 | 211,000 |
Net income from continuing operations | ||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 273,000 | 236,000 | 182,000 | 292,000 | 250,000 | 361,000 | 307,000 | 219,000 | 210,000 | 252,000 | 504,000 | 345,000 |
Income from discontinued operations, net of tax expense | ||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 1,000 | 0 | 0 | - | -2,000 | 1,000 | 0 | 59,000 | 8,000 | 38,000 | 1,000 |
Net income | ||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 125,000 | 181,000 | 273,000 | 237,000 | 182,000 | 292,000 | 252,000 | 359,000 | 307,000 | 219,000 | 269,000 | 260,000 | 542,000 | 346,000 |
Less: net income (loss) attributable to noncontrolling interest | ||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1,000 | 0 |
Net income (loss) | ||||||||||||||||||||||||||||
-106,000 | 171,000 | 145,000 | 153,000 | 128,000 | 72,000 | 114,000 | 83,000 | 126,000 | -84,000 | 176,000 | 112,000 | 88,000 | 145,000 | 230,000 | 125,000 | 181,000 | 273,000 | 237,000 | 182,000 | 292,000 | 252,000 | 359,000 | 307,000 | 219,000 | 269,000 | 260,000 | 543,000 | 346,000 |
Preferred stock dividends | ||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | -1,000 | 2,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 |
Net income attributable to Navient Corporation common stock | ||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 253,000 | 359,000 | 305,000 | 214,000 | 264,000 | 255,000 | 538,000 | 341,000 |
Continuing operations | ||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.64 | 0.48 | 0.73 | - | 0.87 | 0.72 | 0.50 | 0.48 | 0.56 | 1.14 | 0.76 |
Discontinued operations | ||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.00 | 0.00 | 0.00 | - | 0.00 | 0.00 | 0.00 | 0.14 | 0.02 | 0.08 | 0.00 |
Basic earnings (loss) per common share | ||||||||||||||||||||||||||||
-0.53 | 0.78 | 0.64 | 0.65 | 0.52 | 0.29 | 0.44 | 0.31 | 0.48 | -0.30 | 0.65 | 0.40 | 0.31 | 0.49 | 0.74 | 0.39 | 0.53 | 0.77 | 0.64 | 0.48 | 0.73 | 0.62 | 0.87 | 0.72 | 0.50 | 0.62 | 0.58 | 1.22 | 0.76 |
Average common shares outstanding | ||||||||||||||||||||||||||||
200,000 | 216,000 | 225,000 | 235,000 | 244,000 | 251,000 | 260,000 | 265,000 | 264,000 | 262,000 | 269,000 | 280,000 | 289,000 | 293,000 | 310,000 | 322,000 | 339,000 | 356,000 | 369,000 | 381,000 | 398,000 | 404,000 | 415,000 | 422,000 | 427,000 | 433,000 | 436,000 | 440,000 | 451,000 |
Continuing operations | ||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.63 | 0.47 | 0.72 | - | 0.85 | 0.71 | 0.49 | 0.48 | 0.55 | 1.12 | 0.74 |
Discontinued operations | ||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.00 | 0.00 | 0.00 | - | 0.00 | 0.00 | 0.00 | 0.13 | 0.02 | 0.08 | 0.00 |
Diluted earnings (loss) per common share | ||||||||||||||||||||||||||||
-0.53 | 0.77 | 0.63 | 0.64 | 0.52 | 0.28 | 0.43 | 0.31 | 0.47 | -0.29 | 0.64 | 0.39 | 0.30 | 0.48 | 0.73 | 0.38 | 0.53 | 0.76 | 0.63 | 0.47 | 0.72 | 0.61 | 0.85 | 0.71 | 0.49 | 0.61 | 0.57 | 1.20 | 0.74 |
Average common and common equivalent shares outstanding | ||||||||||||||||||||||||||||
200,000 | 219,000 | 228,000 | 238,000 | 247,000 | 254,000 | 264,000 | 269,000 | 269,000 | 269,000 | 274,000 | 285,000 | 296,000 | 301,000 | 316,000 | 328,000 | 343,000 | 361,000 | 375,000 | 387,000 | 405,000 | 412,000 | 423,000 | 430,000 | 435,000 | 445,000 | 445,000 | 448,000 | 458,000 |
Dividends per common share | ||||||||||||||||||||||||||||
0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 |
Private Education Loans [Member] | ||||||||||||||||||||||||||||
Total interest income | ||||||||||||||||||||||||||||
404,000 | 415,000 | 437,000 | 436,000 | 443,000 | 450,000 | 455,000 | 442,000 | 431,000 | 429,000 | 445,000 | 386,000 | 374,000 | 373,000 | 401,000 | 402,000 | 411,000 | - | - | - | - | - | - | - | - | - | - | - | - |
Less: provisions for loan losses | ||||||||||||||||||||||||||||
89,000 | - | - | - | 68,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Less: provisions for loan losses | ||||||||||||||||||||||||||||
- | - | 56,000 | 60,000 | - | 75,000 | 75,000 | 72,000 | 77,000 | 97,000 | 95,000 | 95,000 | 95,000 | 87,000 | 92,000 | 100,000 | 104,000 | - | - | - | - | - | - | - | - | - | - | - | - |
Other Loans [Member] | ||||||||||||||||||||||||||||
Total interest income | ||||||||||||||||||||||||||||
- | 0 | 0 | 1,000 | 1,000 | 3,000 | 1,000 | 1,000 | 1,000 | 0 | 2,000 | 6,000 | 5,000 | 4,000 | 2,000 | 2,000 | 1,000 | 2,000 | 1,000 | 2,000 | 2,000 | - | 2,000 | 2,000 | 3,000 | 2,000 | 3,000 | 3,000 | 3,000 |
FFELP Loans [Member] | ||||||||||||||||||||||||||||
Total interest income | ||||||||||||||||||||||||||||
571,000 | 636,000 | 706,000 | 742,000 | 763,000 | 785,000 | 759,000 | 760,000 | 723,000 | 715,000 | 681,000 | 668,000 | 629,000 | 645,000 | 631,000 | 618,000 | 634,000 | - | - | - | - | - | - | - | - | - | - | - | - |
Less: provisions for loan losses | ||||||||||||||||||||||||||||
6,000 | - | - | - | 8,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Less: provisions for loan losses | ||||||||||||||||||||||||||||
- | - | 8,000 | 8,000 | - | 10,000 | 10,000 | 40,000 | 10,000 | 12,000 | 10,000 | 10,000 | 10,000 | 13,000 | 13,000 | 10,000 | 7,000 | - | - | - | - | - | - | - | - | - | - | - | - |