| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Net (loss) income attributable to Nelnet, Inc. | ||||||||||
141 | 227 | 173 | 256 | 267 | 307 | 302 | 177 | 204 | 189 | 139 |
Net income attributable to noncontrolling interests | ||||||||||
-0 | -0 | -11 | 0 | 0 | 1 | 1 | 0 | 0 | 0 | - |
Net (loss) income | ||||||||||
141 | 227 | 161 | 257 | 268 | 309 | 304 | 178 | 204 | 189 | - |
Adjustments to reconcile net (loss) income to net cash used in operating activities: | ||||||||||
Depreciation and amortization, including debt discounts and loan premiums and deferred origination costs | ||||||||||
192 | 184 | 137 | 122 | 123 | 107 | 79 | 116 | 103 | 101 | - |
Loan discount accretion | ||||||||||
-35 | -40 | -44 | -40 | -43 | -43 | -36 | -44 | -30 | -9 | - |
Provision for loan losses | ||||||||||
39 | 23 | 14 | 13 | 10 | 9 | 18 | 21 | 21 | 22 | 29 |
Derivative market value adjustments | ||||||||||
-76 | 1 | 26 | 59 | -15 | -20 | 83 | -27 | -50 | -77 | - |
Derivative market value adjustment | ||||||||||
- | - | - | - | - | - | - | - | - | - | -6 |
Unrealized foreign currency transaction adjustment | ||||||||||
0 | 0 | -45 | 11 | 43 | 58 | -35 | -19 | 32 | 80 | -37 |
(Payments to) proceeds from termination of derivative instruments, net | ||||||||||
-12 | 10 | -30 | - | - | - | - | - | - | - | - |
Loss on extinguishment of debt | ||||||||||
-16 | 0 | 0 | - | - | - | - | - | - | - | - |
(Payments to) proceeds from clearinghouse - initial and variation margin, net | ||||||||||
-70 | 40 | 76 | 0 | 0 | - | - | - | - | - | - |
Payments to terminate and/or amend derivative instruments, net of proceeds | ||||||||||
- | - | - | -3 | -65 | - | - | - | - | - | -15 |
Payments to enter into derivative instruments | ||||||||||
- | - | - | 0 | 2 | 9 | 0 | 0 | - | - | - |
Gain from sale of loans | ||||||||||
17 | 0 | 0 | - | 0 | -2 | 0 | 0 | 1 | 33 | 35 |
Proceeds to terminate and/or amend derivative instruments, net of payments | ||||||||||
-12 | 10 | -30 | - | - | -1 | -65 | 6 | -3 | -12 | -3 |
Gain from debt repurchases | ||||||||||
- | - | - | 7 | 4 | 6 | 11 | 4 | 6 | 44 | 41 |
Gain from equity securities, net of losses | ||||||||||
- | - | - | -0 | 2 | 8 | 5 | 5 | 0 | 0 | - |
Proceeds related to trading securities, net | ||||||||||
- | - | - | - | - | 3 | 0 | 0 | - | - | - |
Payments for Origination and Purchases of Loans Held-for-sale | ||||||||||
- | - | - | - | - | - | - | - | - | 42 | 13 |
Change in investments - trading securities, net | ||||||||||
- | - | - | - | - | - | - | - | - | 43 | -3 |
Deferred income tax benefit | ||||||||||
-7 | 10 | -1 | 27 | 7 | 19 | 2 | -23 | -7 | 4 | -19 |
Non-cash compensation expense | ||||||||||
6 | 6 | 4 | 4 | 5 | 4 | 3 | 3 | 2 | 2 | 2 |
Depreciation and amortization, including loan and debt premiums/discounts and deferred origination costs | ||||||||||
- | - | - | - | - | - | - | - | - | - | 116 |
Impairment expense | ||||||||||
0 | 11 | 3 | 0 | 0 | - | - | - | - | 26 | 32 |
Other | ||||||||||
2 | 11 | 2 | -1 | -0 | -7 | -0 | -1 | 2 | -0 | -1 |
Increase in accrued interest receivable | ||||||||||
54 | 248 | 39 | 7 | 3 | -5 | -8 | -0 | -29 | -11 | -142 |
Decrease (increase) in accounts receivable | ||||||||||
55 | -3 | 4 | -10 | -1 | -6 | -7 | -0 | 11 | 10 | -0 |
Decrease (increase) in other assets, net | ||||||||||
11 | 4 | 42 | 5 | -0 | -2 | 4 | -2 | 3 | -2 | -5 |
(Decrease) increase in accrued interest payable | ||||||||||
-14 | 11 | 4 | 14 | 5 | 3 | -0 | -4 | -0 | -0 | -61 |
Decrease in other liabilities | ||||||||||
40 | -12 | -2 | 2 | -8 | -20 | 4 | 16 | -6 | 11 | 2 |
Decrease in due to customers | ||||||||||
68 | 59 | 67 | -25 | - | - | - | - | - | - | - |
Net cash used in operating activities | ||||||||||
298 | 270 | 322 | 300 | 391 | 357 | 387 | 299 | 310 | 194 | 324 |
Cash flows from investing activities: | ||||||||||
Purchases of loans | ||||||||||
2,008 | 3,922 | 325 | 319 | 2,189 | 3,753 | 2,392 | 3,777 | 976 | 4,126 | 2,776 |
Purchases of loans from a related party | ||||||||||
- | - | - | 29 | - | - | - | - | - | - | - |
Purchases Of Student Loans From Related Party | ||||||||||
- | - | - | - | - | - | - | - | 0 | - | 47 |
Net proceeds from loan repayments, claims, and capitalized interest | ||||||||||
3,462 | 3,322 | 3,363 | 3,735 | 3,668 | 3,700 | 2,852 | 3,112 | 2,235 | 1,821 | 1,873 |
Proceeds from sale of loans | ||||||||||
196 | 23 | 53 | 44 | 3 | 50 | 43 | 107 | 121 | 2,202 | 2,317 |
Purchases of available-for-sale securities | ||||||||||
1 | 46 | 128 | 94 | 100 | 192 | 219 | 190 | 0 | 0 | - |
Proceeds from sales of available-for-sale securities | ||||||||||
0 | 71 | 156 | 144 | 95 | 241 | 103 | 165 | 0 | 0 | - |
Purchases of other investments | ||||||||||
103 | 67 | 29 | 21 | 93 | 45 | 20 | 0 | 0 | - | - |
Proceeds from other investments | ||||||||||
70 | 23 | 11 | 15 | 29 | 15 | 0 | 0 | - | - | - |
Proceeds from sale of student loans to a related party | ||||||||||
- | - | - | - | - | - | - | - | - | - | 76 |
Purchases of property and equipment | ||||||||||
92 | 125 | 156 | 67 | 16 | 26 | 17 | 9 | 14 | 12 | 1 |
Business (acquisitions) sale, net of cash and restricted cash acquired | ||||||||||
0 | 12 | -4 | 0 | -46 | -46 | 0 | 0 | -14 | -3 | 0 |
Decrease (increase) in restricted cash, net | ||||||||||
- | - | - | - | -67 | 51 | -147 | 201 | -87 | 43 | -371 |
Proceeds from sale of business, net | ||||||||||
- | - | - | 0 | 0 | - | - | - | - | - | - |
Distribution from equity method investment | ||||||||||
- | - | - | - | - | - | - | - | - | 0 | 0 |
Net cash provided by investing activities | ||||||||||
1,524 | -732 | 2,949 | 3,407 | 1,417 | -109 | 496 | -792 | 1,439 | -161 | 1,813 |
Cash flows from financing activities: | ||||||||||
Payments on bonds and notes payable | ||||||||||
4,698 | 3,113 | 5,403 | 4,134 | 4,368 | 3,632 | 5,153 | 4,444 | 3,045 | 5,676 | 6,644 |
Proceeds from issuance of bonds and notes payable | ||||||||||
2,997 | 3,922 | 1,984 | 650 | 2,614 | 3,502 | 4,312 | 5,066 | 1,100 | 5,671 | 4,688 |
Payments on bonds payable due to a related party | ||||||||||
- | - | - | - | - | - | - | - | - | - | 21 |
Proceeds from issuance of bonds payable due to a related party | ||||||||||
- | - | - | - | - | - | - | - | - | - | 0 |
Payments of debt issuance costs | ||||||||||
14 | 13 | 6 | 5 | 11 | 14 | 13 | 18 | 2 | 9 | 9 |
Payments to extinguish debt | ||||||||||
14 | 0 | 0 | - | - | - | - | - | - | - | - |
Payment of contingent consideration | ||||||||||
0 | 0 | 0 | 0 | 0 | - | - | - | - | - | - |
Dividends paid | ||||||||||
29 | 26 | 24 | 21 | 19 | 18 | 18 | 66 | 17 | 34 | 3 |
Repurchases of common stock | ||||||||||
40 | 45 | 68 | 69 | 96 | 15 | 13 | 22 | 27 | 39 | 0 |
Proceeds from issuance of common stock | ||||||||||
1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Acquisition of noncontrolling interest | ||||||||||
0 | 13 | 0 | 0 | - | - | - | - | - | - | - |
Payments received on employee stock notes receivable | ||||||||||
- | - | - | - | - | - | - | 1 | 0 | 0 | 0 |
Issuance of noncontrolling interests | ||||||||||
4 | 0 | 19 | 1 | 3 | 0 | 0 | 0 | 0 | 0 | - |
Distribution to noncontrolling interests | ||||||||||
0 | 0 | 1 | 0 | 0 | 1 | 1 | 0 | 0 | 0 | - |
Net cash used in financing activities | ||||||||||
-1,793 | 711 | -3,500 | -3,578 | -1,875 | -180 | -886 | 516 | -1,991 | -87 | -1,989 |
Net decrease in cash, cash equivalents, and restricted cash | ||||||||||
30 | 250 | -228 | 129 | -66 | 67 | -2 | 23 | -241 | -54 | 148 |
Supplemental disclosures of cash flow information: | ||||||||||
Cash disbursements made for interest | ||||||||||
657 | 591 | 390 | 301 | 228 | 210 | 190 | 234 | 206 | 224 | 434 |
Cash disbursements made (refunds and credits received) for income taxes, net | ||||||||||
17 | 0 | 96 | 115 | 147 | 155 | 154 | 114 | 133 | 105 | 101 |
Noncash operating, investing, and financing activity: | ||||||||||
Receipt of beneficial interest in consumer loan securitization | ||||||||||
39 | 0 | 0 | - | - | - | - | - | - | - | - |
Distribution to noncontrolling interest | ||||||||||
3 | 0 | 0 | - | - | - | - | - | - | - | - |
Loans and other assets acquired | ||||||||||
- | - | - | - | 2,025 | 2,571 | 1,715 | 0 | - | - | - |
Sale of education lending subsidiary, including student loans and other assets | ||||||||||
- | - | - | - | - | 246 | 0 | 0 | - | - | - |
Note receivable obtained in connection with sale of education lending subsidiary | ||||||||||
- | - | - | - | - | 20 | 0 | 0 | 1,760 | - | - |
Borrowings and other liabilities transferred in sale of education lending subsidiary | ||||||||||
- | - | - | - | - | 225 | 0 | 0 | - | - | - |
Borrowings and other liabilities assumed in acquisition of loans | ||||||||||
- | - | - | - | 1,885 | 2,444 | 1,676 | 0 | 1,692 | - | - |
Issuance of noncontrolling interest | ||||||||||
- | - | - | - | 3 | 0 | 0 | - | - | - | - |