XML 76 R57.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Segment Reporting (Details 2) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Interest income:        
Student Loans $ 1,450,000,000 $ 1,451,000,000 $ 2,931,000,000 $ 2,823,000,000
Other loans 5,393,000 7,254,000 11,304,000 16,250,000
Cash and investments 4,743,000 6,299,000 10,082,000 11,248,000
Total interest income 1,459,834,000 1,464,855,000 2,952,395,000 2,850,716,000
Net interest income (loss) 868,407,000 895,922,000 1,766,373,000 1,750,399,000
Less: provisions for loan losses 290,686,000 382,239,000 594,091,000 741,359,000
Net interest income after provisions for loan losses 577,721,000 513,683,000 1,172,282,000 1,009,040,000
Servicing revenue 92,600,000 98,740,000 190,852,000 221,012,000
Contingency revenue 85,617,000 88,172,000 163,998,000 168,484,000
Gains on debt repurchases   91,000,000 38,000,000 181,000,000
Other income (loss) (507,000,000) 89,000,000 (727,000,000) 30,000,000
Total other income (328,060,000) 367,314,000 (333,661,000) 600,022,000
Expenses:        
Direct operating expenses 199,000,000 243,000,000 424,000,000 468,000,000
Overhead expenses 69,000,000 66,000,000 148,000,000 129,000,000
Operating expenses 268,719,000 309,729,000 571,919,000 597,364,000
Goodwill and acquired intangible assets impairment and amortization 6,063,000 9,710,000 12,127,000 19,422,000
Restructuring expenses 1,594,000 17,808,000 5,155,000 42,612,000
Total expenses 276,376,000 337,247,000 589,201,000 659,398,000
Total interest expense 591,427,000 568,933,000 1,186,022,000 1,100,317,000
Income (loss) from continuing operations, before income tax expense (benefit) (26,715,000) 543,750,000 249,420,000 949,664,000
Income tax expense (benefit) (9,585,000) 198,978,000 90,126,000 358,138,000
Net income (loss) from continuing operations (17,130,000) 344,772,000 159,294,000 591,526,000
Income (loss) from discontinued operations, net of taxes 11,482,000 (6,954,000) 9,752,000 (13,568,000)
Net income (loss) (5,648,000) 337,818,000 169,046,000 577,958,000
FFELP Loans [Member]
       
Interest income:        
Student Loans 721,000,000 744,000,000 1,457,000,000 1,386,000,000
Cash and investments 1,000,000 2,000,000 2,000,000 4,000,000
Total interest income 722,000,000 746,000,000 1,459,000,000 1,390,000,000
Net interest income (loss) 365,000,000 364,000,000 733,000,000 672,000,000
Less: provisions for loan losses 23,000,000 29,000,000 46,000,000 52,000,000
Net interest income after provisions for loan losses 342,000,000 335,000,000 687,000,000 620,000,000
Servicing revenue 21,000,000 15,000,000 46,000,000 36,000,000
Total other income 21,000,000 15,000,000 46,000,000 36,000,000
Expenses:        
Direct operating expenses 192,000,000 187,000,000 387,000,000 375,000,000
Operating expenses 192,000,000 187,000,000 387,000,000 375,000,000
Restructuring expenses   15,000,000 1,000,000 33,000,000
Total expenses 192,000,000 202,000,000 388,000,000 408,000,000
Total interest expense 357,000,000 382,000,000 726,000,000 718,000,000
Income (loss) from continuing operations, before income tax expense (benefit) 171,000,000 148,000,000 345,000,000 248,000,000
Income tax expense (benefit) 63,000,000 53,000,000 127,000,000 89,000,000
Net income (loss) from continuing operations 108,000,000 95,000,000 218,000,000 159,000,000
Net income (loss) 108,000,000 95,000,000 218,000,000 159,000,000
Consumer Lending [Member]
       
Interest income:        
Student Loans 600,000,000 575,000,000 1,204,000,000 1,141,000,000
Cash and investments 2,000,000 4,000,000 5,000,000 6,000,000
Total interest income 602,000,000 579,000,000 1,209,000,000 1,147,000,000
Net interest income (loss) 401,000,000 396,000,000 810,000,000 791,000,000
Less: provisions for loan losses 265,000,000 349,000,000 540,000,000 674,000,000
Net interest income after provisions for loan losses 136,000,000 47,000,000 270,000,000 117,000,000
Servicing revenue 15,000,000 21,000,000 32,000,000 41,000,000
Total other income 15,000,000 21,000,000 32,000,000 41,000,000
Expenses:        
Direct operating expenses 73,000,000 86,000,000 155,000,000 166,000,000
Operating expenses 73,000,000 86,000,000 155,000,000 166,000,000
Restructuring expenses 1,000,000 1,000,000 2,000,000 3,000,000
Total expenses 74,000,000 87,000,000 157,000,000 169,000,000
Total interest expense 201,000,000 183,000,000 399,000,000 356,000,000
Income (loss) from continuing operations, before income tax expense (benefit) 77,000,000 (19,000,000) 145,000,000 (11,000,000)
Income tax expense (benefit) 28,000,000 (7,000,000) 54,000,000 (4,000,000)
Net income (loss) from continuing operations 49,000,000 (12,000,000) 91,000,000 (7,000,000)
Net income (loss) 49,000,000 (12,000,000) 91,000,000 (7,000,000)
Business Services [Member]
       
Interest income:        
Cash and investments 2,000,000 4,000,000 5,000,000 8,000,000
Total interest income 2,000,000 4,000,000 5,000,000 8,000,000
Net interest income (loss) 2,000,000 4,000,000 5,000,000 8,000,000
Net interest income after provisions for loan losses 2,000,000 4,000,000 5,000,000 8,000,000
Servicing revenue 244,000,000 228,000,000 489,000,000 473,000,000
Contingency revenue 86,000,000 88,000,000 164,000,000 168,000,000
Other income (loss) 11,000,000 13,000,000 21,000,000 24,000,000
Total other income 341,000,000 329,000,000 674,000,000 665,000,000
Expenses:        
Direct operating expenses 121,000,000 133,000,000 249,000,000 252,000,000
Operating expenses 121,000,000 133,000,000 249,000,000 252,000,000
Restructuring expenses   2,000,000 1,000,000 5,000,000
Total expenses 121,000,000 135,000,000 250,000,000 257,000,000
Income (loss) from continuing operations, before income tax expense (benefit) 222,000,000 198,000,000 429,000,000 416,000,000
Income tax expense (benefit) 82,000,000 71,000,000 158,000,000 149,000,000
Net income (loss) from continuing operations 140,000,000 127,000,000 271,000,000 267,000,000
Net income (loss) 140,000,000 127,000,000 271,000,000 267,000,000
Other Segment [Member]
       
Interest income:        
Other loans 5,000,000 7,000,000 11,000,000 16,000,000
Cash and investments 2,000,000 1,000,000 3,000,000 1,000,000
Total interest income 7,000,000 8,000,000 14,000,000 17,000,000
Net interest income (loss) (7,000,000) (3,000,000) (15,000,000) (4,000,000)
Less: provisions for loan losses 3,000,000 4,000,000 8,000,000 15,000,000
Net interest income after provisions for loan losses (10,000,000) (7,000,000) (23,000,000) (19,000,000)
Gains on debt repurchases   91,000,000 64,000,000 181,000,000
Other income (loss) 3,000,000   6,000,000 11,000,000
Total other income 3,000,000 91,000,000 70,000,000 192,000,000
Expenses:        
Direct operating expenses   2,000,000 9,000,000 4,000,000
Overhead expenses 69,000,000 66,000,000 148,000,000 129,000,000
Operating expenses 69,000,000 68,000,000 157,000,000 133,000,000
Restructuring expenses 1,000,000   1,000,000 2,000,000
Total expenses 70,000,000 68,000,000 158,000,000 135,000,000
Total interest expense 14,000,000 11,000,000 29,000,000 21,000,000
Income (loss) from continuing operations, before income tax expense (benefit) (77,000,000) 16,000,000 (111,000,000) 38,000,000
Income tax expense (benefit) (29,000,000) 8,000,000 (41,000,000) 18,000,000
Net income (loss) from continuing operations (48,000,000) 8,000,000 (70,000,000) 20,000,000
Income (loss) from discontinued operations, net of taxes 11,000,000 (7,000,000) 10,000,000 (14,000,000)
Net income (loss) (37,000,000) 1,000,000 (60,000,000) 6,000,000
Eliminations [Member]
       
Interest income:        
Cash and investments (2,000,000) (4,000,000) (5,000,000) (8,000,000)
Total interest income (2,000,000) (4,000,000) (5,000,000) (8,000,000)
Servicing revenue (187,000,000) (165,000,000) (376,000,000) (329,000,000)
Total other income (187,000,000) (165,000,000) (376,000,000) (329,000,000)
Expenses:        
Direct operating expenses (187,000,000) (165,000,000) (376,000,000) (329,000,000)
Operating expenses (187,000,000) (165,000,000) (376,000,000) (329,000,000)
Total expenses (187,000,000) (165,000,000) (376,000,000) (329,000,000)
Total interest expense (2,000,000) (4,000,000) (5,000,000) (8,000,000)
Total "Core Earnings" [Member]
       
Interest income:        
Student Loans 1,321,000,000 1,319,000,000 2,661,000,000 2,527,000,000
Other loans 5,000,000 7,000,000 11,000,000 16,000,000
Cash and investments 5,000,000 7,000,000 10,000,000 11,000,000
Total interest income 1,331,000,000 1,333,000,000 2,682,000,000 2,554,000,000
Net interest income (loss) 761,000,000 761,000,000 1,533,000,000 1,467,000,000
Less: provisions for loan losses 291,000,000 382,000,000 594,000,000 741,000,000
Net interest income after provisions for loan losses 470,000,000 379,000,000 939,000,000 726,000,000
Servicing revenue 93,000,000 99,000,000 191,000,000 221,000,000
Contingency revenue 86,000,000 88,000,000 164,000,000 168,000,000
Gains on debt repurchases   91,000,000 64,000,000 181,000,000
Other income (loss) 14,000,000 13,000,000 27,000,000 35,000,000
Total other income 193,000,000 291,000,000 446,000,000 605,000,000
Expenses:        
Direct operating expenses 199,000,000 243,000,000 424,000,000 468,000,000
Overhead expenses 69,000,000 66,000,000 148,000,000 129,000,000
Operating expenses 268,000,000 309,000,000 572,000,000 597,000,000
Restructuring expenses 2,000,000 18,000,000 5,000,000 43,000,000
Total expenses 270,000,000 327,000,000 577,000,000 640,000,000
Total interest expense 570,000,000 572,000,000 1,149,000,000 1,087,000,000
Income (loss) from continuing operations, before income tax expense (benefit) 393,000,000 343,000,000 808,000,000 691,000,000
Income tax expense (benefit) 144,000,000 125,000,000 298,000,000 252,000,000
Net income (loss) from continuing operations 249,000,000 218,000,000 510,000,000 439,000,000
Income (loss) from discontinued operations, net of taxes 11,000,000 (7,000,000) 10,000,000 (14,000,000)
Net income (loss) 260,000,000 211,000,000 520,000,000 425,000,000
Adjustment [Member]
       
Interest income:        
Student Loans 129,000,000 132,000,000 270,000,000 296,000,000
Total interest income 129,000,000 132,000,000 270,000,000 296,000,000
Net interest income (loss) 107,000,000 135,000,000 233,000,000 283,000,000
Net interest income after provisions for loan losses 107,000,000 135,000,000 233,000,000 283,000,000
Gains on debt repurchases     (26,000,000)  
Other income (loss) (521,000,000) 76,000,000 (754,000,000) (5,000,000)
Total other income (521,000,000) 76,000,000 (780,000,000) (5,000,000)
Expenses:        
Goodwill and acquired intangible assets impairment and amortization 6,000,000 10,000,000 12,000,000 19,000,000
Total expenses 6,000,000 10,000,000 12,000,000 19,000,000
Total interest expense 22,000,000 (3,000,000) 37,000,000 13,000,000
Income (loss) from continuing operations, before income tax expense (benefit) (420,000,000) 201,000,000 (559,000,000) 259,000,000
Income tax expense (benefit) (154,000,000) 74,000,000 (208,000,000) 106,000,000
Net income (loss) from continuing operations (266,000,000) 127,000,000 (351,000,000) 153,000,000
Net income (loss) $ (266,000,000) $ 127,000,000 $ (351,000,000) $ 153,000,000