NAVIENT CORP (NAVI) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	8-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Interest income:
Cash and investments	3	3	16	93	97	43	22	8

Total interest income
Total interest income	2,648	2,648	3,298	4,673	4,908	4,383	4,146	4,295
Total interest expense	1,316	1,316	2,046	3,488	3,668	2,971	2,441	2,074
Net interest income	1,332	1,332	1,252	1,185	1,240	1,412	1,705	2,221

Less: provisions for loan losses
Net interest income after provisions for loan losses		1,393	1,097	927	870	986	1,276	1,640

Other income (loss):
Servicing revenue	168	168	214	240	274	290	304	340
Asset recovery and business processing revenue	539	539	458	488	430	475	390	367
Other income	30	30	20	45	17	9	7	17
Gains (losses) on derivative and hedging activities, net		64	-256	22	-38	22	117	166
Total other income		806	430	856	702	796	819	902

Expenses:
Salaries and benefits		569	497	488	507	519	500	467
Other operating expenses		638	467	496	477	447	451	451
Total operating expenses		1,207	964	984	984	966	951	918
Goodwill and acquired intangible asset impairment and amortization expense	30	30	22	30	47	23	36	12
Restructuring/other reorganization expenses		26	9	6	13	29		32
Total expenses		1,263	995	1,020	1,044	1,018	987	962
Income before income tax expense		936	532	763	528	764	1,108	1,580
Income tax expense	219	219	120	166	133	472	427	597
Net income	717	717	412	597	395	292	681	984

Basic earnings per common share	$4.23	$4.23	$2.14	$2.59	$1.52	$1.06	$2.15	$2.62

Average common shares outstanding	170	170	193	230	260	275	316	376
Diluted earnings per common share	$4.18	$4.18	$2.12	$2.56	$1.49	$1.04	$2.12	$2.58
Average common and common equivalent shares outstanding	172	172	195	233	264	281	322	382

Dividends per common share	$640,000.00	$0.64	$0.64	$0.64	$0.64	$0.64	$0.64	$0.64