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Parent Only Statements (Tables)
 12 Months Ended
Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]  
Parent only Condensed Balance Sheets
Parent Only Condensed Balance Sheets
 
 
December 31,
 
 
2018
 
2017
Assets
 
 
 
 
Cash and cash equivalents
 
$
191,776

 
$
260,255

Total investments in subsidiaries (primarily Sallie Mae Bank)
 
2,963,949

 
2,401,114

Tax indemnification receivable
 
39,207

 
168,011

Due from subsidiaries, net
 
48,798

 
37,521

Other assets
 
2,246

 
1,279

Total assets
 
$
3,245,976

 
$
2,868,180

 
 
 
 
 
Liabilities and Equity
 
 
 
 
Liabilities
 
 
 
 
Long-term borrowings
 
$
197,348

 
$
196,539

Income taxes payable, net
 
37,271

 
159,954

Payable due to Navient
 
9,480

 
10,575

Other liabilities
 
29,221

 
26,856

Total liabilities
 
273,320

 
393,924

 
 
 
 
 
Equity
 
 
 
 
Preferred stock, par value $0.20 per share, 20 million shares authorized:
 
 
 
 
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: 449.9 million and 443.5 million shares issued, respectively
 
89,972

 
88,693

Additional paid-in capital
 
1,274,635

 
1,222,277

Accumulated other comprehensive income (net of tax expense of $3,436 and $1,696, respectively)
 
10,623

 
2,748

Retained earnings
 
1,340,017

 
868,182

Total SLM Corporation stockholders’ equity before treasury stock
 
3,115,247

 
2,581,900

Less: Common stock held in treasury at cost: 14.2 million and 11.1 million shares, respectively
 
(142,591
)
 
(107,644
)
Total equity
 
2,972,656

 
2,474,256

Total liabilities and equity
 
$
3,245,976

 
$
2,868,180
Parent only Condensed Statements of Income
Parent Only Condensed Statements of Income

 
 
 
Years Ended December 31,
 
 
2018
 
2017
 
2016
 
 
 
 
 
 
 
Interest income
 
$
4,693

 
$
5,497

 
$
5,367

Interest expense
 
11,059

 
8,170

 
—

Net interest income (loss)
 
(6,366
)
 
(2,673
)
 
5,367

 
 
 
 
 
 
 
Non-interest income (loss)
 
(93,176
)
 
(33,956
)
 
9,396

Non-interest expenses
 
41,893

 
35,810

 
32,553

 
 
 
 
 
 
 
Loss before income tax benefit and equity in net income from subsidiaries
 
(141,435
)
 
(72,439
)
 
(17,790
)
Income tax benefit
 
(96,170
)
 
(40,598
)
 
(2,839
)
Equity in net income from subsidiaries (primarily Sallie Mae Bank)
 
532,741

 
320,775

 
265,278

Net income
 
487,476

 
288,934

 
250,327

Preferred stock dividends
 
15,640

 
15,714

 
21,204

Net income attributable to SLM Corporation common stock
 
$
471,836

 
$
273,220

 
$
229,123
Parent only Condensed Statements of Cash Flows
Parent Only Condensed Statements of Cash Flows

 
 
Years Ended December 31,
 
 
2018
 
2017
 
2016
 
 
 
 
 
 
 
Cash flows from operating activities:
 
 
 
 
 
 
Net income
 
$
487,476

 
$
288,934

 
$
250,327

Adjustments to reconcile net income to net cash (used in) provided by operating activities:
 

 

 

Undistributed earnings of subsidiaries
 
(532,741
)
 
(320,775
)
 
(265,278
)
Reduction (income) on tax indemnification receivable
 
92,815

 
31,888

 
(12,283
)
Amortization of unsecured debt upfront fees
 
809

 
596

 
—

Decrease in investment in subsidiaries, net
 
9,495

 
1,158

 
63,222

Decrease in tax indemnification receivable
 
35,989

 
59,633

 
59,633

Increase in due from subsidiaries, net
 
(11,277
)
 
(5,687
)
 
(10,438
)
Increase in other assets
 
(18,040
)
 
(24,627
)
 
(8,972
)
Decrease in income taxes payable, net
 
(123,083
)
 
(87,983
)
 
(54,175
)
(Decrease) increase in payable due to entity that is a subsidiary of Navient
 
(1,089
)
 
(593
)
 
553

Increase in other liabilities
 
6,807

 
10,205

 
8,856

Total adjustments
 
(540,315
)
 
(336,185
)
 
(218,882
)
Net cash (used in) provided by operating activities
 
(52,839
)
 
(47,251
)
 
31,445

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

 
—

 
—

 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
Unsecured debt issued
 
—

 
197,000

 
—

Issuance costs for unsecured debt offering
 
—

 
(1,057
)
 
—

Redemption of Series A Preferred Stock
 
—

 
(165,000
)
 
—

Preferred stock dividends paid
 
(15,640
)
 
(15,714
)
 
(21,204
)
Net cash (used in) provided by financing activities
 
(15,640
)
 
15,229

 
(21,204
)
Net (decrease) increase in cash and cash equivalents
 
(68,479
)
 
(32,022
)
 
10,241

Cash and cash equivalents at beginning of year
 
260,255

 
292,277

 
282,036

Cash and cash equivalents at end of year
 
$
191,776

 
$
260,255

 
$
292,277