Quarterly Financial Information (unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information (unaudited)

16. Quarterly Financial Information (unaudited)

	2017
(Dollars in millions, except per share data)	First Quarter			Second Quarter			Third Quarter		Fourth Quarter
Net interest income	$	340		$	351		$	355	$	366
Less: provisions for loan losses		107			105			105		109
Net interest income after provisions for loan losses		233			246			250		257
Other income		168			187			238		181
Gains (losses) on derivative and hedging activities, net		(16	)		(25	)		25		38
Operating expenses		238			230			238		260
Goodwill and acquired intangible asset impairment and    amortization expense		6			6			6		5
Restructuring/other reorganization expenses		—			—			—		29
Income tax expense		53			60			93		266
Net income (loss) attributable to Navient Corporation	$	88		$	112		$	176	$	(84	)
Basic earnings (loss) per common share attributable to    Navient Corporation	$	.31		$	.40		$	.65	$	(.32	)
Diluted earnings (loss) per common share attributable to    Navient Corporation	$	.30		$	.39		$	.64	$	(.32	)

	2016
(Dollars in millions, except per share data)	First Quarter		Second Quarter			Third Quarter		Fourth Quarter
Net interest income	$	486	$	429		$	412	$	378
Less: provisions for loan losses		111		110			106		102
Net interest income after provisions for loan losses		375		319			306		276
Other income		159		151			174		218
Gains (losses) on derivative and hedging activities, net		1		(28	)		137		6
Operating expenses		247		230			228		246
Goodwill and acquired intangible asset impairment and    amortization expense		4		6			12		13
Restructuring/other reorganization expenses		—		—			—		—
Income tax expense		103		81			147		96
Net income attributable to Navient Corporation	$	181	$	125		$	230	$	145
Basic earnings per common share attributable to    Navient Corporation	$	.53	$	.39		$	.74	$	.49
Diluted earnings per common share attributable to    Navient Corporation	$	.53	$	.38		$	.73	$	.48