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Parent Only Statements
 12 Months Ended
Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Parent Only Statements
Parent Only Statements

The following parent company-only financial information should be read in conjunction with the other notes to the consolidated financial statements. The accounting policies for the parent company-only financial statements are the same as those used in the presentation of the consolidated financial statements other than the parent company-only financial statements account for the parent company's investments in its subsidiaries under the equity method.


Parent Only Condensed Balance Sheets
 
 
December 31,
 
 
2015
 
2014
Assets
 
 
 
 
Cash and cash equivalents
 
$
282,036

 
$
434,245

Total investments in subsidiaries (primarily Sallie Mae Bank)
 
1,810,567

 
1,389,995

Tax indemnification receivable
 
186,076

 
240,311

Due from subsidiaries, net
 
21,396

 
32,408

Other assets
 
1,352

 
1,943

Total assets
 
$
2,301,427

 
$
2,098,902

 
 
 
 
 
Liabilities and Equity
 
 
 
 
Liabilities
 
 
 
 
Income taxes payable, net
 
$
189,215

 
$
245,782

Payable due to Navient
 
1,990

 
8,764

Other liabilities
 
13,899

 
14,398

Total liabilities
 
$
205,104

 
268,944

 
 
 
 
 
Equity
 
 
 
 
Preferred stock, par value $0.20 per share, 20 million shares authorized:
 
 
 
 
Series A: 3.3 million and 3.3 million shares issued, respectively, at stated value of $50
 
165,000

 
165,000

Series B: 4 million and 4 million shares issued, respectively, at stated value of $100 per share
 
400,000

 
400,000

Common stock, par value $0.20 per share, 1.125 billion shares authorized: 430.7 million and 424.8 million shares issued, respectively
 
86,136

 
84,961

Additional paid-in capital
 
1,135,860

 
1,090,511

Accumulated other comprehensive loss (net of tax benefit of $9,949 and $7,186, respectively
 
(16,059
)
 
(11,393
)
Retained earnings
 
366,609

 
113,066

Total SLM Corporation stockholders' equity before treasury stock
 
2,137,546

 
1,842,145

Less: common stock held in treasury at cost: 4.4 million and 1.4 million shares, respectively
 
(41,223
)
 
(12,187
)
Total equity
 
2,096,323

 
1,829,958

Total liabilities and equity
 
$
2,301,427

 
$
2,098,902




Parent Only Condensed Statements of Income

 
 
 
Years Ended December 31,
 
 
2015
 
2014
 
2013
 
 
 
 
 
 
 
Interest income
 
$
6,414

 
$
4,980

 
$
—

Interest expense
 
—

 
—

 
—

Net interest income
 
6,414

 
4,980

 
—

 
 
 
 
 
 
 
Other (loss) income
 
(239
)
 
1,097

 
—

 
 
 
 
 
 
 
Operating expenses
 
36,141

 
36,967

 
3,556

 
 
 
 
 
 
 
Loss before income tax expense (benefit) and equity in net income from subsidiaries
 
(29,966
)
 
(30,890
)
 
(3,556
)
Income tax (benefit) expense
 
(8,612
)
 
(13,196
)
 
133,121

Equity in net income from subsidiaries (primarily Sallie Mae Bank)
 
295,638

 
211,479

 
394,270

Net income
 
274,284

 
193,785

 
257,593

Preferred stock dividends
 
19,595

 
12,933

 
—

Net income attributable to common stock
 
$
254,689

 
$
180,852

 
$
257,593



Parent Only Condensed Statements of Cash Flows
 
 
Years Ended December 31,
 
 
2015
 
2014
 
2013
 
 
 
 
 
 
 
Cash flows from operating activities:
 
 
 
 
 
 
Net income
 
$
274,284

 
$
193,785

 
$
257,593

Adjustments to reconcile net income to net cash used in operating activities:
 

 

 

Undistributed earnings of subsidiaries
 
(295,638
)
 
(211,479
)
 
(394,270
)
Interest income on tax indemnification receivable
 
(5,398
)
 
(5,904
)
 
—

(Increase) decrease in investment in subsidiaries, net
 
(103,602
)
 
278,365

 
136,677

Decrease in tax indemnification receivable
 
59,633

 
44,724

 
—

Decrease (increase) in due from subsidiaries, net
 
11,012

 
(32,408
)
 
—

Increase in other assets
 
(14,366
)
 
(5,447
)
 
—

Decrease in income taxes payable, net
 
(54,907
)
 
(312,770
)
 
—

(Decrease) increase in payable due to entity that is a subsidiary of Navient
 
(6,774
)
 
8,764

 
—

Increase in other liabilities
 
1,402

 
14,398

 
—

Total adjustments
 
(408,638
)
 
(221,757
)
 
(257,593
)
Net cash used in operating activities
 
(134,354
)
 
(27,972
)
 
—

 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
Net cash provided by (used in) investing activities
 
—

 
—

 
—

 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
Special cash contribution from Navient
 
—

 
472,718

 
—

Excess tax benefit from exercise of stock-based awards
 
1,740

 
2,432

 
—

Preferred stock dividends paid
 
(19,595
)
 
(12,933
)
 
—

Net cash (used in) provided by financing activities
 
(17,855
)
 
462,217

 
—

Net (decrease) increase in cash and cash equivalents
 
(152,209
)
 
434,245

 
—

Cash and cash equivalents at beginning of year
 
434,245

 
—

 
—

Cash and cash equivalents at end of year
 
$
282,036

 
$
434,245

 
$
—