Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - NAVIENT CORP | Financial_Report.xls |
| EX-10.1 - EX-10.1 - NAVIENT CORP | d893658dex101.htm |
| EX-32.2 - EX-32.2 - NAVIENT CORP | d893658dex322.htm |
| EX-10.3 - EX-10.3 - NAVIENT CORP | d893658dex103.htm |
| EX-10.4 - EX-10.4 - NAVIENT CORP | d893658dex104.htm |
| EX-31.1 - EX-31.1 - NAVIENT CORP | d893658dex311.htm |
| EX-31.2 - EX-31.2 - NAVIENT CORP | d893658dex312.htm |
| EX-10.2 - EX-10.2 - NAVIENT CORP | d893658dex102.htm |
| EX-10.6 - EX-10.6 - NAVIENT CORP | d893658dex106.htm |
| EX-10.5 - EX-10.5 - NAVIENT CORP | d893658dex105.htm |
| EX-32.1 - EX-32.1 - NAVIENT CORP | d893658dex321.htm |
| 10-Q - FORM 10-Q - NAVIENT CORP | d893658d10q.htm |
Exhibit 12.1
NAVIENT CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(Dollars in millions)
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Three Months Ended Mar 31, | |||||||||||||||||||||||||||
| 2010 | 2011 | 2012 | 2013 | 2014 | 2014 | 2015 | ||||||||||||||||||||||
| Income (loss) from continuing operations before income taxes |
$ | 1,229 | $ | 925 | $ | 1,437 | $ | 2,087 | $ | 1,837 | $ | 355 | $ | 473 | ||||||||||||||
| Add: Fixed charges |
2,279 | 2,404 | 2,565 | 2,213 | 2,066 | 530 | 514 | |||||||||||||||||||||
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| Total earnings |
$ | 3,508 | $ | 3,329 | $ | 4,002 | $ | 4,300 | $ | 3,903 | $ | 885 | $ | 987 | ||||||||||||||
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| Interest expense |
$ | 2,275 | $ | 2,401 | $ | 2,561 | $ | 2,210 | $ | 2,063 | $ | 530 | $ | 514 | ||||||||||||||
| Rental expense, net of income |
4 | 3 | 4 | 3 | 3 | — | — | |||||||||||||||||||||
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| Total fixed charges |
2,279 | 2,404 | 2,565 | 2,213 | 2,066 | 530 | 514 | |||||||||||||||||||||
| Preferred stock dividends |
121 | 28 | 31 | 31 | 10 | 8 | — | |||||||||||||||||||||
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| Total fixed charges and preferred stock dividends |
$ | 2,400 | $ | 2,432 | $ | 2,596 | $ | 2,244 | $ | 2,076 | $ | 538 | $ | 514 | ||||||||||||||
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| Ratio of earnings to fixed charges(1) |
1.54 | 1.38 | 1.56 | 1.94 | 1.89 | 1.67 | 1.92 | |||||||||||||||||||||
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| Ratio of earnings to fixed charges and preferred stock dividends(1) |
1.46 | 1.37 | 1.54 | 1.92 | 1.88 | 1.65 | 1.92 | |||||||||||||||||||||
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| (1) | For purposes of computing these ratios, earnings represent income (loss) from continuing operations before income tax expense plus fixed charges. Fixed charges represent interest expensed and capitalized plus one-third (the proportion deemed representative of the interest factor) of rents, net of income from subleases. |