Navient Corporation reported unaudited earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported diluted earnings were $0.53 per share, down 15% from $0.62 per share in fourth quarter of 2013 and lower than the $0.54 per share. Total income was $1.3 billion, down 8% from $1.41 billion reported for the same period last year. Net income attributable to company was $217 million against $274 million a year ago. Return on assets was 0.63% against 0.76% a year ago. Net interest income was $614 million against $789 million a year ago. Income from continuing operations before income tax expense was $421 million against $340 million a year ago. Net income from continuing operations was $262 million against $211 million a year ago. The decrease in net income was primarily due to a $175 million decline in net interest income, a $28 million decrease in asset recovery revenue and a $58 million after-tax decrease in income from discontinued operations.

For the year, the company reported net income attributable to company was $1,149 million against $1,418 million a year ago. Diluted earnings per common share attributable to was $2.69 against $3.12 per share a year ago. Return on assets was 0.59% against 0.82% a year ago. Net interest income was $2,667 million against $3,167 million a year ago. Income from continuing operations before income tax expense was $1,837 million against $2,087 million a year ago. Net income from continuing operations was $1,149 million against $1,311 million a year ago. The decrease in net income was primarily due to a $500 million decline in net interest income, a $302 million decrease in gains on sales of loans and investments, a $106 million after-tax decrease in income from discontinued operations, a $42 million decrease in debt repurchase gains, and higher restructuring and other reorganization costs of $41 million.