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NAVIENT CORP   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2020201920182017201620152014201320122011
Period End Date12/31/202012/31/201912/31/201812/31/201712/31/201612/31/201512/31/201412/31/201312/31/201212/31/2011
Private Education Loans1,445.001,731.001,778.001,634.001,587.001,756.002,156.002,527.002,481.002,429.00
Other loans--2.006.0013.009.007.009.0011.0016.0021.00
FFELP Loans1,837.002,847.003,027.002,693.002,528.002,524.002,556.002,822.003,251.003,461.00
Cash and investments16.0093.0097.0043.0022.008.009.0017.0021.0019.00
Total Interest Income3,298.004,673.004,908.004,383.004,146.004,295.004,730.005,377.005,769.005,930.00
Total Interest Expense2,046.003,488.003,668.002,971.002,441.002,074.002,063.002,210.002,561.002,401.00
Net Interest Income1,252.001,185.001,240.001,412.001,705.002,221.002,667.003,167.003,208.003,529.00
Provisions for loan losses155.00258.00370.00426.00429.00581.00647.00839.001,080.001,295.00
Net interest income after provisions for loan losses1,097.00927.00870.00986.001,276.001,640.002,020.002,328.002,128.002,234.00
Gains on sales of loans and investments--16.00--3.00--(9.00)--302.00--(35.00)
Losses on derivative and hedging activities, net(256.00)22.00(38.00)22.00117.00166.00139.00(268.00)(628.00)(959.00)
Other non-interest (loss) income20.0045.0017.009.007.0017.0082.00100.0092.0069.00
Gains on debt repurchases(6.00)45.0019.00(3.00)1.0021.00--42.00145.0038.00
Servicing revenue214.00240.00274.00290.00304.00340.00298.00290.00279.00283.00
Contingency revenue------------------333.00
Asset recovery revenue458.00488.00430.00475.00390.00367.00388.00420.00356.00--
Total Non Interest Income430.00856.00702.00796.00819.00902.00907.00886.00244.00(271.00)
Salaries and benefits497.00488.00507.00519.00500.00467.00479.00504.00457.00493.00
Goodwill and acquired intangible asset impairment and amortization expense22.0030.0047.0023.0036.0012.009.0013.0027.0021.00
Restructuring and other reorganization expenses9.006.0013.0029.00--32.00113.0072.0011.0012.00
Other Operating Expenses467.00496.00477.00447.00451.00451.00508.00538.00440.00512.00
Total Non-Interest expense995.001,020.001,044.001,018.00987.00962.001,109.001,127.00935.001,038.00
Income Before Income Taxes532.00763.00528.00764.001,108.001,580.001,818.002,087.001,437.00925.00
Income tax expense120.00166.00133.00472.00427.00597.00681.00776.00498.00328.00
Deferred provision/(benefit):Foreign--1.00----------------
Current provision/(benefit):Federal98.0078.0071.00--------------
Current provision/(benefit):State14.0011.0013.00--------------
Current provision/(benefit):Foreign(1.00)--3.00--------------
Deferred provision/(benefit):Federal12.0073.0033.00--------------
Deferred provision/(benefit):State(3.00)3.0013.00--------------
Income from Continuing Operations----------983.001,137.001,311.00939.00597.00
Income from discontinued operations, net of tax expense----------1.00--106.00(2.00)35.00
Net Income412.00597.00395.00292.00681.00984.001,137.001,417.00937.00632.00
Less: Net Loss Attributable to Noncontrolling Interest--------------(1.00)(2.00)(1.00)
Preferred stock dividends------------6.0020.0020.0018.00
Net income attributable to Navient Corporation common stock412.00597.00395.00292.00681.00984.001,131.001,398.00919.00615.00
Basic earnings per common share - Continuing operations--------------2.941.931.12
Basic earnings per common share - Discontinued operations--------------0.24--0.07
Net Earnings Per Share (Basic)2.142.591.521.062.152.622.713.181.931.19
Diluted earnings per common share - Continuing operations--------------2.891.901.11
Diluted earnings per common share - Discontinued operations--------------0.23--0.07
Net Earnings Per Share (Diluted)2.122.561.491.042.122.582.663.121.901.18
Weighted Average Shares Outstanding (Basic)193.00230.00260.00275.00316.00376.00417.00440.00476.00517.00
Weighted Average Shares Outstanding (Diluted)195.00233.00264.00281.00322.00382.00425.00449.00483.00523.00