SLM Stock Cash Flow Statements

SLM Quarterly Cash Flow Statements Chart

Quarterly

Annual

Stock-Based Compensation

Financing Cash Flow

SLM Quarterly Cash Flow Statements Table

Quarterly

Annual

Unit: USD	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2015-03-31	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2005-03-31

operating activities
net income	71,272,000	304,540,000	111,553,000	-45,152,000	251,993,000	289,931,000	168,443,000	29,365,000	265,065,000	118,518,000	-77,043,000	75,172,000	342,073,000	128,812,000	306,265,000	72,840,000	140,201,000	641,207,000	432,700,000	171,028,000	-85,211,000	362,173,000	141,352,000	128,458,000	150,277,000	158,189,000	147,512,000	103,878,000	109,832,000	126,254,000	47,699,000	-5,648,000	174,694,000	-494,886,000	337,951,000	240,280,000	-15,369,015	159,308,000	-122,509,000	-21,105,000	-216,017,000	-158,541,000	162,035,804	-103,804	-1,635,258,000	-343,760,000	966,471,000	116,153,000	18,105,000	263,472,000	223,384,000
adjustments to reconcile net income to net cash from operating activities:
provisions for credit losses	148,718,000	23,286,000	108,179,000	271,465,000	16,830,000	12,041,000	15,599,000	198,023,000	17,729,000	114,112,000	297,260,000	207,598,000	30,545,000	98,050,000	-15,309,000	138,442,000	69,677,000	-225,767,000	-316,372,000	-3,640,000	351,887,000	61,258,000	97,558,000	99,526,000	93,375,000	63,790,000	57,619,000	70,047,000	63,267,000	53,931,000
income tax expense	16,362,000	98,579,000		-14,410,000	86,554,000	97,554,000		11,242,000	91,482,000	37,338,000		29,551,000	114,296,000	37,356,000		19,392,000	53,174,000	203,525,000		55,189,000	-30,664,000	121,481,000		40,701,000	33,801,000	56,296,000		-53,667,000	40,074,000	40,997,000
amortization of brokered deposit placement fee	2,160,000	2,213,000	2,428,000	2,617,000	2,681,000	2,803,000	2,863,000	2,832,000	2,865,000	3,121,000	3,147,000	3,182,000	3,150,000	3,425,000	3,584,000	3,738,000	3,887,000	4,307,000	4,520,000	4,753,000	4,935,000	5,193,000	5,496,000	4,667,000	4,070,000	3,555,000	3,677,000	3,531,000	3,058,000	2,789,000	2,695,000
amortization of secured borrowing facility upfront fee	624,000	584,000	597,000	588,000	461,000	713,000	720,000	708,000	718,000	723,000	704,000	712,000	649,000	569,000	570,000	359,000	713,000	773,000	817,000	813,000	820,000	526,000	279,000	279,000	282,000	277,000
amortization of deferred loan origination costs and loan premium/(discounts)	3,663,000	3,806,000	3,680,000	2,943,000	3,031,000	3,229,000	2,752,000	3,429,000	2,981,000	3,421,000	3,185,000	3,433,000	3,731,000	4,455,000	4,252,000	3,868,000	3,967,000	4,016,000	4,025,000	3,907,000	3,979,000	12,241,000	3,299,000	3,324,000	3,242,000	3,184,000	2,866,000	2,924,000	2,508,000	2,607,000
net amortization of discount on investments	-64,000	-327,000	-292,000	-433,000	-446,000	-601,000	-714,000	-695,000	-695,000	-622,000	-699,000	-220,000	57,000	965,000	1,408,000	1,823,000	1,918,000	2,161,000	2,095,000	1,704,000	1,941,000	610,000	757,000	819,000	304,000	189,000	368,000	359,000	510,000	475,000	324,000
depreciation of premises and equipment	3,968,000	3,953,000	4,163,000	4,222,000	4,562,000	4,705,000	4,407,000	4,259,000	4,621,000	4,524,000	4,491,000	4,351,000	4,300,000	4,189,000	4,598,000	3,900,000	3,830,000	3,715,000	3,680,000	3,709,000	3,822,000	3,855,000	3,819,000	3,882,000	3,382,000	3,586,000	3,852,000	3,502,000	3,358,000	3,117,000	1,659,000
acquired intangible assets amortization expense	898,000	1,021,000		1,225,000	1,394,000	1,215,000		2,834,000	2,245,000	2,272,000	2,301,000	2,328,000	2,417,000	733,000
stock-based compensation expense	9,335,000	13,272,000	8,255,000	8,374,000	9,577,000	13,790,000	8,080,000	8,472,000	8,292,000	11,536,000	7,309,000	6,856,000	8,375,000	11,921,000	6,395,000	6,686,000	6,444,000	11,124,000	6,211,000	9,244,000	7,399,000	13,610,000	5,759,000	5,368,000	5,582,000	13,891,000	5,696,000	5,567,000	5,516,000	14,745,000	6,140,000	12,069,000	24,992,000
unrealized (gains) losses on derivatives and hedging activities	1,000	-6,000		19,000	23,000	20,000		59,000	-283,000	-56,000		274,000	-342,000	315,000		3,625,000	6,937,000	10,872,000												-3,879,000
gains on sales of loans	13,000	-187,735,000		31,000				5,000				-74,978,000	-239,997,000	-9,881,000		10,000	-3,679,000	-399,111,000		4,000	369,000	-238,935,000						0
(gains) losses on securities	2,641,000	10,378,000					-690,000	-1,490,000	1,213,000	-1,711,000
other adjustments to net income	3,344,000	4,093,000	3,707,000	3,254,000	2,663,000	2,939,000	3,933,000	3,396,000	5,820,000	3,063,000	1,039,000	2,278,000	3,661,000	7,235,000	5,819,000	1,981,000	-33,788,000	2,578,000	3,421,000	1,577,000	2,238,000	1,574,000	6,171,000	-6,298,000	1,933,000	1,918,000	2,018,000	2,132,000	1,533,000	1,763,000
changes in operating assets and liabilities:
increase in accrued interest receivable	-294,455,000	-296,543,000	-281,347,000	-278,156,000	-263,931,000	-287,000,000	-276,946,000	-266,036,000	-253,201,000	-257,888,000	-239,254,000	-208,250,000	-187,160,000	-185,294,000	-187,614,000	-186,800,000	-186,175,000	-183,168,000	-208,600,000	-203,812,000	-228,009,000	-236,282,000	-244,330,000	-240,669,000	-239,706,000	-239,180,000	-235,502,000	-221,146,000	-206,037,000	-201,776,000	-121,815,000			-180,320,000	10,604,000	-158,066,000
increase in trading investments	0	-812,000									-53,000
increase in non-marketable securities			-783,000	-10,270,000	0	-283,000	-403,000	-162,000			0	-1,058,000	0	-992,000	-554,000	-804,000	-8,294,000	-317,000					0
decrease in other interest-earning assets	1,281,000	1,497,000												328,000
increase in other assets	-6,130,000	-46,659,000	35,368,000	-18,510,000	-343,000	-23,046,000	-7,691,000	6,362,000	-10,941,000	-26,632,000			-22,333,000	-17,529,000	-12,427,000	-14,588,000	-44,586,000	-51,667,000	-4,260,000	16,303,000	-29,623,000	-32,874,000	7,183,000	18,023,000	-27,616,000	-681,000	-8,874,000	-9,452,000	-15,735,000	-35,716,000	-2,079,000
decrease in income taxes payable	-126,381,000	-11,493,000		-70,807,000				-88,481,000				-99,185,000	-114,481,000	-4,243,000		2,052,000	-231,854,000	-270,000		-220,254,000	-22,887,000	-710,000		-52,741,000	-128,303,000	-3,947,000		-48,529,000	-106,814,000	-1,159,000
increase in accrued interest payable			9,544,000	-549,000	10,166,000	-15,738,000	5,651,000	17,396,000	-9,925,000	20,358,000	-321,000			14,779,000	-17,825,000			-9,081,000	-14,640,000	11,950,000	-30,522,000	18,610,000	-8,014,000	14,794,000	-368,000	7,405,000	-1,286,000	15,970,000	261,000	11,034,000	6,541,000	-75,820,000	145,645,000	-17,953,000	-45,156,000	79,833,000					-8,166,000	-25,851,000	-166,340,741	-143,259	57,319,000	-46,293,000	96,192,000	107,183,000	110,199,000	64,806,000	7,195,000
decrease in other liabilities	-3,448,000	-42,714,000		25,750,000	1,278,000	-29,020,000		7,313,000	6,469,000	-23,770,000																-39,049,000			10,585,000	-18,873,000					-127,466,000	-3,366,000
total adjustments	-210,001,000	-450,591,000	-107,014,000	-68,269,000	-395,795,000	-366,642,000	-195,584,000	-88,715,000	-332,099,000	-109,630,000	76,168,000	-71,804,000	-402,362,000	-66,024,000	-260,663,000	11,969,000	-365,886,000	-595,455,000	-406,218,000	-318,034,000	-121,348,000	-217,759,000	-79,592,000	-142,815,000	-230,036,000	-141,474,000	-157,853,000	-116,784,000	-175,168,000	-140,412,000	-66,880,000	613,866,000	584,225,000					-5,197,236,000	-3,288,257,000	-5,447,053,000	-2,566,601,000	-3,134,117,000	214,667,533	326,467	977,836,000	1,259,500,000	-1,465,902,000	73,663,000
total net cash from operating activities	-138,729,000	-146,051,000	4,539,000	-113,421,000	-143,802,000	-76,711,000	-27,141,000	-59,350,000	-67,034,000	8,888,000	-875,000	3,368,000	-60,289,000	62,788,000	45,602,000	84,809,000			26,482,000	-147,006,000	-206,559,000	144,414,000	61,760,000	-14,357,000	-79,759,000	16,715,000	-10,341,000	-12,906,000	-65,336,000	-14,158,000	-19,181,000	608,218,000	758,919,000	-85,183,000	-3,017,973,000	-5,549,416,000
investing activities
loans acquired and originated	-690,858,000	-2,783,336,000	-992,821,000	-2,779,631,000	-698,485,000	-2,593,293,000	-852,076,000	-2,468,048,000	-668,717,000	-2,463,358,000	-846,494,000	-2,377,484,000	-641,453,000	-2,215,958,000	-767,633,000	-2,116,156,000	-551,421,000	-2,076,635,000	-641,979,000	-1,911,454,000	-514,677,000	-2,310,173,000	-802,119,000	-2,416,597,000	-665,765,000	-2,253,624,000	-923,172,000	-2,407,431,000	-862,629,000	-2,300,135,000	-1,663,149,000
net proceeds from sales of loans held for investment and loans held for sale	-13,000	2,208,600,000	484,911,000	-31,000	1,611,948,000	2,149,774,000	1,041,478,000	-4,000
proceeds from ffelp loan claim payments			0	7,545,000	9,215,000	10,819,000	10,309,000	13,359,000	15,203,000	11,274,000		7,945,000	9,048,000	5,594,000
net decrease in loans held for investment and loans held for sale	650,085,000	774,483,000	703,846,000	640,913,000	629,594,000	751,120,000	707,638,000	733,134,000
purchases of available-for-sale securities	-32,088,000	-38,174,000	-14,918,000	-16,951,000	-34,222,000	-25,790,000	-35,180,000	-26,008,000	-39,790,000	-4,992,000	0	0	-216,496,000	-536,633,000	-97,462,000	-654,663,000	-304,288,000	-200,716,000	-185,750,000	-341,427,000	-1,493,332,000	-62,752,000	-50,542,000	-145,555,000	-126,834,000	-33,483,000	-7,962,000	-5,000,000			-8,178,000	-39,082,000	-70,534,000	-3,916,248,000	-9,196,936,000	-18,688,583,000	104,535,332,802	-38,601,369,000	-45,540,708,000	-20,521,734,000	-7,353,392,000	-21,715,615,000	-72,036,930,180	-34,649,820	-24,265,259,000	-41,900,523,000	-8,473,071,000	-15,448,651,000
proceeds from sales and maturities of available-for-sale securities	37,881,000	335,355,000	87,652,000	333,963,000	131,135,000	279,700,000	50,610,000	66,950,000	74,740,000	73,352,000	147,303,000	71,653,000	54,253,000	686,806,000	66,573,000	217,103,000	376,723,000	205,367,000	277,935,000	271,507,000	86,237,000	18,836,000	18,633,000	21,653,000	6,059,000	4,570,000	7,054,000	8,606,000	51,866,000	10,371,000	6,630,000
total net cash from investing activities	-34,993,000	496,928,000	268,670,000	-1,814,192,000	1,649,185,000	572,330,000	922,779,000	-1,695,271,000	2,231,084,000	-1,471,052,000	63,191,000	-343,795,000	2,346,863,000	-988,867,000	1,422,781,000	-1,605,298,000	396,828,000	2,390,362,000	334,436,000	-464,127,000	-1,041,201,000	2,118,222,000	278,544,000	-1,541,809,000	150,228,000	-1,193,677,000	-39,602,000	-1,626,279,000	-48,016,000	-1,540,966,000	-1,367,878,000	2,848,692,000	2,458,263,000
financing activities
net decrease in certificates of deposit												1,054,002,000	-1,004,125,000	-127,815,000		621,950,000															-74,457,000
net increase in other deposits							25,733,000	-3,150,000	-625,232,000	-167,836,000	-41,704,000	258,345,000	-190,261,000	543,767,000	405,478,000	-828,185,000	-34,395,000	850,408,000	202,539,000	281,796,000	275,091,000	-55,044,000	11,808,000	538,533,000	82,821,000	290,631,000	459,948,000	126,546,000	8,312,000	323,614,000	-22,415,000
issuance costs for collateralized borrowings	-22,000	-20,000					0				0
borrowings collateralized by loans in securitization trusts - issued			677,243,000	864,392,000			-18,000	565,541,000	-358,000	569,871,000	0				531,492,000	524,380,000			1,098,000	704,238,000	-227,000	633,532,000	0	0	654,466,000	451,128,000	115,000	540,325,000	682,739,000	667,848,000
borrowings collateralized by loans in securitization trusts - repaid	-275,920,000	-288,840,000	-276,429,000	-233,527,000	-240,985,000	-253,176,000	-291,039,000	-266,538,000	-303,572,000	-293,120,000	-289,678,000	-271,944,000	-335,556,000	-381,005,000	-313,712,000	-295,744,000	-262,159,000	-272,123,000	-254,027,000	-207,935,000	-260,279,000	-281,086,000	-249,830,000	-262,297,000	-269,812,000	-260,953,000	-249,450,000	-227,286,000	-211,657,000	-200,247,000
issuance costs for unsecured debt offering	-333,000	-1,609,000									0	-15,000	0	-360,000	-1,215,000	0	0	-325,000
unsecured debt issued	0	493,885,000
unsecured debt repaid	0	-500,000,000
fees paid on secured borrowing facility			-24,000	0			-18,000	0	-2,834,000	-16,000		-5,000				0	-13,000	-2,833,000		0	-68,000	-3,183,000		0	-51,000	-1,065,000
common stock dividends paid	-27,153,000	-27,466,000	-27,338,000	-23,529,000	-24,027,000	-24,278,000	-24,416,000	-24,879,000	-25,303,000	-26,635,000	-26,742,000	-27,643,000	-28,083,000	-30,493,000	-31,358,000	-8,934,000	-9,264,000	-10,906,000	-11,254,000	-11,253,000	-11,249,000	-12,595,000	-12,629,000	-12,661,000	-12,804,000	-13,020,000
preferred stock dividends paid	-3,972,000	-3,956,000	-4,367,000	-4,648,000	-4,628,000	-4,653,000	-4,726,000	-4,642,000	-4,274,000	-4,063,000	-3,466,000	-2,531,000	-1,757,000	-1,275,000	-1,177,000	-1,166,000	-1,192,000	-1,201,000	-1,734,000	-2,058,000	-2,478,000	-3,464,000	-3,885,000	-4,153,000	-4,331,000	-4,468,000	-4,199,000	-4,124,000	-3,920,000	-3,397,000	-4,823,000
common stock repurchased	-71,705,000	-29,696,000	-47,070,000	-114,393,000	-61,048,000	-25,457,000	-90,933,000	0	-255,326,000	-4,005,000	-157,590,000	-10,109,000	-376,176,000	-169,322,000	-254,002,000	-249,383,000	-476,508,000	-550,790,000	0	0	0	-558,167,000	-9,604,000	-37,477,000	-60,120,000	-60,000,000																			-2,079,467,000	-100,190,000	-34,071,000	-8,666,000
total net cash from financing activities	561,387,000	-1,356,576,000		1,183,458,000	167,473,000	-1,063,304,000		1,451,564,000	-2,035,850,000	587,471,000		1,568,343,000	-1,940,374,000	-168,710,000		-247,551,000
net increase in cash, cash equivalents and restricted cash			213,737,000				576,221,000			-874,693,000	-251,835,000	1,227,916,000	346,200,000	-1,094,789,000			-1,710,444,000	1,762,000,000	96,216,000	-590,660,000	-2,378,215,000	1,761,608,000	1,726,306,000	-145,501,000			727,183,000	-203,736,000
cash, cash equivalents and restricted cash at beginning of period	0	4,874,260,000		0	0	4,299,507,000		0	0	4,772,836,000				4,545,344,000		0				0	0	5,720,760,000		0	0	2,681,895,000		0	0	1,636,175,000
decrease in accrued interest payable		-26,984,000
net increase in certificates of deposit		-889,195,000	-420,242,000			31,555,000	66,937,000			515,909,000								-686,344,000	-625,553,000	-742,810,000	-1,129,702,000	69,971,000	1,666,891,000	895,339,000	1,383,390,000	404,121,000	571,396,000	1,006,207,000	252,455,000	694,982,000
net decrease in other deposits		-109,679,000		16,900,000	42,463,000	-787,295,000
net decrease in cash, cash equivalents and restricted cash		-1,005,699,000			1,672,856,000	-567,685,000																				-372,086,000				-80,442,000
cash, cash equivalents and restricted cash at end of period		3,868,561,000			1,672,856,000	3,731,822,000								3,450,555,000		-1,768,040,000				-590,660,000	-2,378,215,000	7,482,368,000		-145,501,000	1,830,146,000	2,309,809,000		-203,736,000
cash disbursements made for:
deferred tax provision
reduction of tax indemnification receivable																											6,736,000
acquired intangible assets impairment and amortization expense
unrealized (gains) losses on derivative and hedging activities
gains on sale of loans
acquisition transaction costs							-45,000				1,000	0	91,000	2,511,000
increase in other interest-earning assets									1,079,000	-1,869,000	-137,000	-842,000								21,094,000	18,066,000	-40,404,000	22,106,000	-9,483,000	-33,266,000	-4,764,000	4,914,000	-3,686,000	3,252,000	-10,051,000
increase in income tax payable
increase in other liabilities											8,998,000			-34,808,000	1,941,000			8,759,000	-45,860,000	-32,944,000	24,928,000	134,661,000	-10,542,000	-11,999,000			11,702,000				-10,629,000													-63,415	-1,539,738,000			197,456,000	-548,727,000	597,057,000
purchase of subsidiary, net of cash acquired							0				0	-86,000	134,000	-127,702,000
brokered deposit placement fee			-2,069,000				-937,000	-4,270,000	0	-2,634,000	-3,023,000	-4,357,000	-1,583,000	-2,207,000	-1,383,000	-10,469,000			0	-1,505,000	-1,543,000	-1,762,000	-8,179,000	-4,419,000	-13,882,000	-1,498,000	-681,000	-6,219,000	-11,830,000	-7,055,000
net cash from financing activities																		-674,114,000	-264,702,000	20,473,000	-1,130,455,000	-501,028,000	1,386,002,000	1,410,665,000	1,759,677,000	804,876,000	777,126,000	1,435,449,000	716,067,000	1,474,682,000	-97,099,000	-3,183,652,000	-3,688,033,000	-2,583,173,000	1,054,953,000	4,766,678,000	-15,541,316,331	3,826,672,000	7,907,101,000	3,825,146,000	2,724,531,000	3,832,705,000	6,295,368,580	1,003,420	4,895,053,000	15,888,954,000	5,627,425,000	9,857,046,000	8,555,890,000	3,531,394,000	207,505,000
cash, cash equivalents and restricted cash at beginning of year
cash, cash equivalents and restricted cash at end of year
interest						284,041,000	271,628,000				197,348,000				98,479,000	68,266,000			115,293,000	98,032,000			176,419,000	166,321,000			144,661,000	119,926,000			25,368,000	612,522,000	612,519,000	618,290,000	595,424,000	549,075,000	-3,066,692,455	767,204,000	899,287,000	1,403,858,000	1,354,569,000	1,239,598,000	3,125,371,994	1,869,006	1,931,524,000	1,883,630,000	1,604,844,000	1,477,775,000	1,395,652,000	1,050,209,000	437,243,000
income taxes paid							20,668,000				52,965,000				23,591,000	5,597,000			1,000	220,460,000			16,654,000	53,102,000			66,826,000	50,075,000			17,811,000	198,928,000	165,243,000
income taxes refunded							-44,000				-20,000				-1,004,000	-6,561,000			-2,195,000	-8,000			0	-135,000			-8,275,000	-1,384,000
reconciliation of the consolidated statements of cash flows to the consolidated balance sheets:
cash and cash equivalents							601,613,000				-230,637,000				1,616,851,000	-1,779,558,000			104,247,000	-637,916,000			1,712,269,000	-146,906,000			720,052,000	-204,735,000
restricted cash							-25,392,000				-21,198,000				35,268,000	11,518,000			-8,031,000	47,256,000			14,037,000	1,405,000			7,131,000	999,000
total cash, cash equivalents and restricted cash							576,221,000				-251,835,000				1,652,119,000	-1,768,040,000			96,216,000	-590,660,000			1,726,306,000	-145,501,000			727,183,000	-203,736,000
supplemental non-cash operating and investing activities:
accrued interest capitalized during the period
trading investments received in consideration for loans sold
available-for-sale investments received in consideration for loans sold
increase in tax indemnification receivable								-43,000	-44,000	-42,000												-169,000				-3,917,000
gains on securities				3,836,000	-2,103,000	-2,118,000
decrease (increase) in other interest-earning assets					1,210,000	1,657,000									2,236,000	6,224,000	5,477,000	19,282,000													14,900,000
(gains) losses on sales of loans						-143,039,000				9,000
increase in income taxes payable						-6,463,000				2,483,000
net proceeds from sales of loans held for investment										-9,000	-1,231,000	1,127,570,000	2,287,459,000	45,729,000	1,206,430,000	-10,000	-306,000	3,436,391,000	-247,000	592,945,000	-369,000	3,283,408,000					0	0	44,012,000	820,000	6,387,000
net decrease in loans held for investment										912,681,000	753,003,000	826,607,000	853,918,000	1,153,297,000	1,010,140,000	943,050,000	871,447,000	1,021,353,000	878,331,000	919,047,000	858,024,000	1,177,589,000	1,101,177,000	988,572,000	926,999,000	1,077,273,000	868,311,000	766,054,000	706,733,000	735,894,000	243,990,000
gain on sale of upromise subsidiary																			0	0
decrease in upromise member accounts due to sale																			0	0
proceeds from claim payments															4,733,000	5,378,000	4,673,000	4,602,000	6,146,000	5,255,000	5,994,000	11,314,000	11,395,000	10,118,000	9,769,000	11,587,000	16,167,000	11,492,000	14,916,000	12,084,000	46,442,000
proceeds for sale of upromise subsidiary
repayment of borrowings under secured borrowing facility																			0	0	0	-289,230,000
fees paid - secured borrowing facility
repurchase of series b preferred stock
(increase) reduction in tax indemnification receivable												-124,000								-131,000
decrease (increase) in other assets
reduction (increase) in tax indemnification receivable														-108,000		357,000	2,835,000	2,814,000
borrowings under secured borrowing facility																							0
unrealized gain on investments																				-390,000
proceeds from sale of upromise subsidiary																				0
total net provided by operating activities																		45,752,000
losses on sales of securities																											0	0
decrease in tax indemnification receivable																											8,998,000	8,997,000			13,154,000
decrease in income tax payable																															-23,049,000
unrealized gains on derivatives and hedging activities																				12,890,000	8,443,000	-43,195,000		-3,007,000	-17,923,000	-4,027,000
unrealized loss on investments																						1,191,000
deferred tax benefit
redemption of series a preferred stock
increase (reduction) in tax indemnification receivable
unrealized losses (gains) on derivative and hedging activities
amortization of abcp facility upfront fee																												276,000	274,000	301,000
amortization of acquired intangibles																												92,000	92,000	92,000
unrealized losses on derivatives and hedging activities																												4,890,000
decrease in payable due to entity that is a subsidiary of navient																												87,000			-1,655,000
borrowings under abcp facility																												0	0	300,000,000
repayment of borrowings under abcp facility																												0	0	-300,000,000
fees paid on abcp facility																												0	-32,000	-1,063,000
redemption of preferred stock series a
income on tax indemnification receivable																													-2,222,000	-1,231,000
increase in payable due to entity that is a subsidiary of navient																														422,000
amortization of deferred loan origination costs and fees																															641,000
loss (income) on tax indemnification receivable
net decrease in loans held for sale																															55,000
origination of loans held for sale																															-55,000
decrease (increase) in restricted cash and investments
increase in restricted cash and investment - variable interest entities
net increase increase in certificates of deposit
borrowings collateralized by loans in securitization - repaid
fees paid - abcp facility
net increase in cash and cash equivalents																																273,258,000	-470,851,000	-391,529,000	-573,863,000	770,889,000	-1,114,995,989	-952,959,000			174,149,000	-1,227,348,000	-2,455,069,997	-3,760,003	-212,923,000	5,114,731,000	-998,885,000	1,057,886,000
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
benefit from loan losses																															16,618,000
tax provision																															31,722,000
amortization and impairment of acquired intangibles																															370,000
unrealized (gains)/losses on derivative and hedging activities																															-2,417,000	339,442,000	56,796,000	139,049,000	-322,688,000	-122,044,000		-5,717,000	512,634,000	-15,273,000
net decrease in deposits with entity that is a subsidiary of navient
net capital contributions from entity that is a subsidiary of navient
excess tax benefit from the exercise of stock-based awards																															4,596,000	63,000	832,000	12,000	255,000	100,000					0	-1,000	271,331	10,669	781,000	20,703,000	4,501,000	4,331,000	5,540,000
net decrease in cash and cash equivalents																															-1,484,158,000									-1,006,201,000
cash and cash equivalents at beginning of period																															2,359,780,000	0	4,342,327,000	0	0	6,070,013,000		0	0	4,070,002,000		0	7,574,448,969	7,582,031		0	0	2,621,222,000		0	3,395,487,000
cash and cash equivalents at end of period																															875,622,000	273,258,000	3,871,476,000	-391,529,000	-573,863,000	6,840,902,000		-952,959,000	3,076,156,000	3,063,801,000		-1,227,348,000	5,119,378,972	3,822,028		5,114,731,000	-998,885,000	3,679,108,000		-997,864,000	735,869,000
amortization of fdic fees
net amortization (accretion) of discount on investments
interest rate swap
gains on sale of loans to affiliates
increase in payable due to navient
net increase in loans held for investment
net (decrease) in brokered certificates of deposit
net increase in now account deposits
net increase in high yield savings deposits
net increase in retail certificates of deposit
net increase in mmda deposits
special cash contribution from navient
net capital contributions (to) from entity that is a subsidiary of navient
dividend paid to entity that is a subsidiary of navient
(income) income from discontinued operations, net of tax
gains on sale of loans and securities
gains on debt repurchases																																-323,000	-37,903,000
goodwill and acquired intangible assets impairment and amortization expense																																6,063,000	6,064,000
provisions for loan losses																																290,686,000	303,405,000	358,110,000	382,239,000	359,120,000	-848,399,040	321,127,000	278,112,000	250,279,000	252,415,000	186,909,000	280,188,689	137,311	574,178,000	142,600,000
student loans originated for sale																																		-477,701,000	-3,759,759,000	-6,722,387,000	15,826,943,417	-5,674,680,000	-3,759,431,000	-6,411,932,000
decrease in restricted cash — other																																-733,000	53,904,000	6,600,000	15,648,000	25,755,000		-8,351,000
decrease (increase) in accrued interest receivable																																					-240,483,484						51,994,524	25,476
decrease in other assets																																3,311,000	212,287,000
(decrease) in other liabilities																																-145,910,000	-78,761,000						-89,554,000	-60,767,000
student loans acquired and originated																																-539,135,000	-1,278,529,000
reduction of student loans:
installment payments, claims and other																																2,155,541,000	4,551,933,000	3,482,070,000	3,520,119,000	3,484,121,000	-7,986,734,773	2,848,704,000	2,439,923,000	2,708,857,000
proceeds from sales of student loans																																192,445,000	188,520,000	195,909,000	88,553,000	75,493,000	-514,351,779	52,829,000	0	462,311,000	470,339,000	-1,395,000	27,210,522	28,478	235,313,000	828,000	772,970,000	4,184,000	6,634,000		14,709,000
other loans — repaid																																15,220,000	14,699,000	16,770,000	18,172,000	82,688,000	-237,718,509	20,423,000	150,371,000	67,186,000
other investing activities																																752,873,000	-955,202,000	110,694,000	-363,001,000	80,089,000	676,038,749	59,390,000	-758,720,000	22,718,000	-68,035,000	-8,719,000	-58,248,070	-38,930	-153,575,000	-71,276,000	-75,122,000	-58,236,000
proceeds from maturities of available-for-sale securities																																79,900,000	53,444,000	4,109,031,000	9,543,276,000	19,182,117,000	-104,289,321,121	38,801,747,000	44,889,029,000	20,726,497,000	6,606,022,000	23,551,238,000	72,243,530,607	36,121,393	25,138,119,000	39,531,610,000	9,115,782,000	15,567,592,000	25,640,370,000	27,799,036,000	28,955,447,000
purchases of other securities																																-81,132,000	-50,063,000	-36,820,000
proceeds from maturities of other securities																																60,550,000	67,394,000
decrease (increase) in restricted cash
cash from investing activities — continuing operations																																2,826,181,000	2,429,839,000
cash from investing activities — discontinued operations																																22,511,000	28,424,000
borrowings collateralized by loans in trust — issued																																2,219,170,000	818,447,000	3,195,096,000	1,179,272,000	1,544,073,000	-11,559,594,085	2,531,606,000	7,710,056,000	1,330,930,000
borrowings collateralized by loans in trust — repaid																																-3,013,157,000	-2,712,317,000	-3,970,600,000	-2,174,867,000	-2,099,724,000	4,191,199,287	-1,264,601,000	-1,500,153,000	-1,432,135,000
asset-backed commercial paper conduits																																792,978,000	-1,237,935,000	-309,062,000	-1,557,859,000	-441,723,000	15,487,886,814
ed participation program																																		369,864,000	4,109,569,000	6,740,199,000	-15,479,713,071	5,627,962,000	3,706,539,000	6,164,514,000
ed conduit program facility																																-816,723,000	-911,868,000	-446,468,000	1,190,661,000	368,537,000	-14,175,609,163	3,095,178,000
other short-term borrowings repaid																																		21,632,000			1,197,226,462	-207,941,000	-778,000,000	-212,720,000	-444,750,000
other long-term borrowings issued																																4,000	1,966,802,000	4,000	4,000	1,463,534,000	-4,328,839,819	5,000	3,176,905,000	1,156,263,000	1,125,777,000
other long-term borrowings repaid																																-2,318,117,000	-1,814,721,000	-2,715,120,000	-1,970,477,000	-2,541,703,000	8,325,676,733	-3,400,134,000	-1,910,457,000	-3,024,590,000	-1,023,312,000
other financing activities																																164,540,000	206,605,000	1,290,141,000	495,359,000	-247,746,000	1,005,509,913	526,965,000	-627,394,000	-905,832,000	88,816,000	199,091,000	-3,240,970	-7,030	15,193,000	-71,347,000	24,952,000	-8,395,000
common stock issued																																		0	183,000	11,000	-5,336	1,000			-4,000	1,580,000	4,402,244	756	1,965,279,000	86,612,000	37,797,000	35,423,000	-23,801,000	43,854,000	56,244,000
common dividends paid																																													0	0	0	-102,658,000
preferred dividends paid																																-4,052,000	-3,878,000	-18,787,000	-18,578,000	-18,517,000	83,799,225	-32,042,000	-25,638,000	-26,235,000	-27,153,000	-27,310,000	-56,064,137	-28,863	-9,458,000	-9,111,000	-8,995,000	-8,933,000
noncontrolling interest																																		115,000	-386,000	-363,000		-525,000	-639,000	-7,988,000
cash disbursements made (refunds received) for:
income taxes																																-3,958,000	-18,008,000	-248,000	42,281,000	-493,132,000	-291,816,715	114,637,000	164,513,000	12,965,000	2,218,000	132,877,000	564,167,436	101,564	393,134,000	175,438,000	368,806,000	159,962,000	195,784,000	3,728,000	12,384,000
income from discontinued operations, net of tax																																	1,730,000
(increase) in accrued interest receivable																																	-103,934,000								-38,176,000				-27,659,000	-340,530,000	-327,481,000	-350,454,000
(increase) in restricted cash																																	-91,823,000
gains on sales of loans and securities																																		-1,607,000	3,515,000	-8,653,000
stock-based compensation cost																																		5,295,000	13,819,000	12,278,000	-40,021,935	9,929,000	16,901,000	13,243,000	16,334,000	21,857,000	48,059,351	20,649	9,428,000	12,353,000	26,739,000	26,101,000
adjustment for non-cash loss related to retained interest																																						-17,380,000	101,498,000	249,833,000
cash from operating activities — continuing operations																																		409,703,000	-3,355,924,000	-5,789,696,000
cash from operating activities — discontinued operations
student loans acquired																																		-2,089,291,000	-2,034,461,000	-2,638,358,000	7,202,271,907	-2,267,405,000	-2,355,187,000	-2,589,083,000	-2,810,337,000	-5,186,911,000	-15,331,176,595	-9,521,405	-8,245,304,000	-10,628,978,000	-8,150,243,000	-12,278,480,000
loans purchased from securitized trusts																																					5,024,022	-1,332,000	-1,504,000	-2,194,000	-42,613,000	-646,034,000	-554,747,169	-276,831	-382,221,000	-898,096,000	-1,698,607,000	-1,347,297,000
other loans — originated																																					2,815,177	-1,000	34,200,000	-37,017,000
proceeds from sales of available-for-sale securities																																					-99,955,944	0	0	100,056,000				8	18,000	2,000	54,000	73,143,000	22,513,000	176,000	841,797,000
proceeds from maturities of held-to-maturity securities and other securities																																		39,388,000	32,805,000	39,007,000	-68,911,829	63,000	24,934,000	43,994,000	394,678,000	0	12,492,506	9,494	697,000	424,088,000	3,618,000	7,065,000	628,417,000	189,108,000	155,973,000
return of investment from retained interest																																					-16,334,487	0			50,387,000	135,242,000	217,311,458	79,542	77,651,000	54,422,000	82,468,000	62,455,000	73,654,000	11,093,000	73,196,000
decrease (increase) in restricted cash — on-balance sheet trusts																																									289,402,000	-245,028,000	873,407,061	621,939
net cash from investing activities																																		2,276,827,000	1,389,157,000	1,553,627,000	525,382,051	258,297,000	-1,420,179,000	636,811,000	232,236,000	-1,767,395,000						-8,988,976,000
other short-term borrowings issued																																					-297,995,706	0	198,292,000	100,002,000	590,554,000
income from discontinued operations, net of tax benefit
decrease (increase) in other assets, goodwill and acquired intangible assets
increase in restricted cash — on-balance sheet trusts																																			-165,640,000	-52,489,000	1,317,228,725	-654,752,000	-318,878,000	-344,780,000								-379,218,000
decrease in other assets, goodwill and acquired intangible assets																																				747,834,000				237,962,000	201,435,000			13,406					370,331,000		53,637,000
purchases of held-to-maturity and other securities																																				-10,458,000									-400,000	-329,510,000	0	-540,000
loss (income) from discontinued operations, net of tax
gains on student loan securitizations																																													0	0	0	-367,300,000
losses on loans and securities
unrealized (gains)/losses on derivative and hedging activities, excluding equity forwards																																									434,438,000	189,875,000	-64,782,283	364,283	-85,885,000	-3,132,000	-45,706,000	-80,240,000
unrealized (gains)/losses on derivative and hedging activities — equity forwards																																													1,484,558,000	457,436,000	-796,175,000	412,206,000
decrease (increase) in restricted cash — other																																								35,270,000
adjustment for non-cash (income)/loss related to retained interest																																												88,111	137,021,000	152,480,000	57,581,000	-67,836,000	9,876,000	3,819,000
increase in other assets, goodwill and acquired intangible assets
total net cash (used in) operating activities
proceeds from securitization of student loans treated as sales																																													0	0	0	1,976,599,000	0		3,544,305,000
purchase of subsidiaries, net of cash acquired																																									0	0	-37,830,132	-37,868
net settlements on equity forward contracts																																													-429,424,000	-32,487,000	-30,958,000	-121,348,000
preferred stock issued																																									0	0	145,199,655	145,345
noncontrolling interest,net
(gains) losses on sales of loans and securities
decrease in purchased paper mortgages																																						58,429,000	94,402,000	80,299,000
(decrease) in accrued interest payable																																						-30,811,000	-124,886,000	-284,223,000
net cash from operating activities																																						-5,037,928,000	-3,410,766,000	-5,468,158,000	-2,782,618,000	-3,292,658,000	376,703,337	222,663	-657,422,000			189,816,000
purchase of held-to-maturity and other securities
losses on sales of loans and securities																																										43,899,000	78,214,334	34,666		25,163,000
decrease in accrued interest receivable																																							23,767,000	458,024,000
(increase) in other assets, goodwill and acquired intangible assets																																															-203,138,000	-29,291,000
asset-backed commercial paper conduits — net activity																																							-13,137,160,000	682,937,000					682,140,000
mortgage loans originated																																								-3,624,000			-35,438,431	-16,569	-18,532,000	-86,865,000	-215,168,000	-226,208,000
proceeds from sales of mortgage loans																																								3,856,000			36,380,200	19,800	29,421,000	116,728,000	218,969,000	250,156,000	311,698,000	333,260,000	280,793,000
minority interest																																									-498,000	-659,000	-1,516,242	-758	460,000	-1,049,000	1,419,000	-1,609,000
decrease (increase) in purchased paper-mortgages
(increase) in student loans held-for-sale
mortgage loans originated for sale
proceeds and repayments from sales of mortgage loans originated for sale
decrease (increase) in purchased paper — mortgage loans																																										90,378,000	109,690,930	29,070
decrease in restricted cash-other																																										60,081,000
adjustment for non-cash loss/(income) related to retained interest																																										81,241,000
installment payments																																										2,728,793,000	5,266,334,454	2,661,546		2,802,469,000	2,829,695,000	2,900,029,000			1,419,656,000
other loans originated																																										-165,479,000	-931,075,414	-676,586		-1,289,634,000	-712,568,000	-965,223,000
repayments of other loans originated for investment
borrowings collateralized by loans in trust issued																																										6,396,036,000	11,586,198,474	4,720,526		2,586,159,000	5,163,542,000	11,203,950,000		3,111,672,000
borrowings collateralized by loans in trust repaid																																										-1,284,219,000	-3,533,385,522	-1,880,478
asset-backed financing facilities — net activity																																										-1,571,961,000	-159,860,243	-1,715,757
ed participation program facility
other loans repaid																																											1,182,979,046	692,954		1,239,566,000	870,088,000	897,602,000		556,444,000	156,589,000
short-term borrowings issued																																											5,992,325,064	3,327,936	2,745,907,000	2,008,321,000	1,815,176,000	1,204,049,000	945,067,000	502,954,000	4,568,130,000
short-term borrowings repaid																																											-7,499,860,305	-1,746,695	-1,710,720,000	-4,068,392,000	-1,844,619,000	-957,381,000
long-term borrowings issued																																													0	0	0	1,567,602,000	4,040,780,000	3,001,937,000
long-term borrowings repaid																																											-2,617,843,011	-1,822,989	-110,020,000	-485,246,000	-1,280,980,000	-1,312,003,000
increase in restricted cash-other																																												-182,304
net cash (used in) investing activities																																												-4,986,086		-11,689,963,000
(increase) in purchased paper-mortgages
increase in restricted cash — other
(increase) in restricted cash — on-balance sheet trusts																																													402,246,000	-624,931,000
decrease (increase) in restricted cash-other																																														-26,932,000	4,857,000	22,202,000
net cash (used in) operating activities
borrowings collateralized by loans in trust — activity																																															1,781,080,000	-1,638,925,000
losses on securities																																																30,967,000	24,458,000
provisions for losses																																																150,330,000	92,005,000	67,242,000	46,523,000
loss on gse debt extinguishment and defeasance
gse debt extinguishment
noncash financing activity:
transfer of investments to trust to defease gse debt
unrealized (gains)/losses on derivative and hedging activities—equity forwards																																																			108,307,000
claims and resales																																																			283,186,000
borrowings collateralized by loans in trust—activity
tax benefit from the exercise of stock-based awards
cumulative effect of accounting change
loss on investments
donation of treasury stock
decrease in retained interest in off-balance sheet securitized loans																																																			9,165,000
academic facilities financings and other loans—originated
academic facilities financings and other loans—repayments
borrowings collateralized by loans in trust—issued
premiums on equity forward contracts
increase in restricted cash
other loans made
long-term notes issued																																																			1,664,501,000
long-term notes repaid
borrowings collateralized by loans in trust

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