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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2020
Dec. 31, 2019
Investments    
Held-to-maturity $ 16 $ 19
Other 295 192
Total investments 311 211
Cash and cash equivalents 1,775 1,233
Restricted cash and cash equivalents 2,439 2,548
Goodwill and acquired intangible assets, net 741 757
Other assets 3,550 3,334
Total assets 89,664 94,903
Liabilities    
Short-term borrowings 7,078 8,483
Long-term borrowings 79,137 81,715
Other liabilities 1,184 1,356
Total liabilities 87,399 91,554
Commitments and contingencies
Equity    
Common stock, par value $0.01 per share, 1.125 billion shares authorized: 453 million and 451 million shares issued, respectively 4 4
Additional paid-in capital 3,220 3,198
Accumulated other comprehensive loss (net of tax benefit of $96 and $30, respectively) (294) (91)
Retained earnings 3,175 3,664
Total Navient Corporation stockholders’ equity before treasury stock 6,105 6,775
Less: Common stock held in treasury at cost: 267 million and 236 million shares, respectively (3,851) (3,439)
Total Navient Corporation stockholders’ equity 2,254 3,336
Noncontrolling interest 11 13
Total equity 2,265 3,349
Total liabilities and equity 89,664 94,903
FFELP Loans [Member]    
Assets    
Loans, net 59,559 64,575
Private Education Loans [Member]    
Assets    
Loans, net 21,289 22,245
Assets and Liabilities of Consolidated Variable Interest Entities [Member]    
Assets    
Loans, net 77,919 83,864
Investments    
Total assets 81,632 87,459
Investments    
Restricted cash 2,405 2,506
Other assets, net 1,308 1,089
Liabilities    
Short-term borrowings 4,959 7,089
Long-term borrowings 70,641 72,856
Net assets of consolidated variable interest entities 6,032 7,514
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | FFELP Loans [Member]    
Assets    
Loans, net 59,222 64,255
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Private Education Loans [Member]    
Assets    
Loans, net $ 18,697 $ 19,609