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
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
Provision for loan losses						426	429	581
Net interest income after provision for loan losses	1,332	1,332	1,252	1,185	1,240	986	1,276	1,640
Other non-interest income		806	430	856	702	796	819	902
Total non-interest income		806	430	856	702	796	819	902
Non-interest expenses		1,263	995	1,020	1,044	1,018	987	962
Pre-tax income before non-recurring items	936	889	535	814	560	790	1,108	1,612
Non-recurring items		-47	3	51	32	26		32
Pre-tax income	936	936	532	763	528	764	1,108	1,580
Income taxes	219	219	120	166	133	472	427	597
Tax rate	23.4%	23.4%	22.6%	21.8%	25.2%	61.8%	38.5%	37.8%
Net income	717	717	412	597	395	292	681	983
Net margin	52.6%	141.4%	106.2%	28.6%	20.2%	16.4%	32.5%	38.7%

Basic EPS	$4.23	$4.22	$2.13	$2.60	$1.52	$1.06	$2.16	$2.61
Diluted EPS	$4.18	$4.17	$2.11	$2.56	$1.50	$1.04	$2.11	$2.57

Shares outstanding (basic)	170	170	193	230	260	275	316	376
Shares outstanding (diluted)	172	172	195	233	264	281	322	382

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.