Nelnet, inc. (NNI)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Interest income:
Loan interest

914,256

897,666

757,731

751,280

726,258

703,007

638,142

609,237

589,686

598,675

609,920

Investment interest

34,421

26,600

12,695

9,466

7,851

6,793

6,668

4,616

3,168

5,256

10,287

Total interest income

948,677

924,266

770,426

760,746

734,109

709,800

644,810

613,853

592,854

603,931

620,207

Interest expense:
Interest on bonds and notes payable

699,327

669,906

465,188

388,183

302,210

273,237

230,935

268,566

228,289

232,860

384,862

Net interest income

249,350

254,360

305,238

372,563

431,899

436,563

413,875

345,287

364,565

371,071

235,345

Less provision for loan losses

39,000

23,000

14,450

13,500

10,150

9,500

18,500

21,500

21,250

22,700

29,000

Net interest income after provision for loan losses

210,350

231,360

290,788

359,063

421,749

427,063

395,375

323,787

343,315

348,371

206,345

Other income/expense:
Other income

65,179

54,805

55,728

58,255

47,262

73,936

46,298

39,476

29,513

31,310

26,469

Loan servicing fees to third parties

-

-

-

25,750

30,213

27,009

23,881

-

-

-

-

Cost to provide communications services

-

-

-

-

0

0

-

-

-

-

-

Cost to provide enrollment services

-

-

-

-

41,733

49,985

-

-

86,548

91,647

74,926

Impairment expense

-

-

-

-

-

-

-

-

-

26,599

32,728

Gain from debt repurchases

-

-

-

7,981

5,153

3,651

11,699

4,139

8,340

78,631

76,831

Derivative market value and foreign currency transaction adjustments and derivative settlements, net

-30,789

71,085

-18,554

49,795

4,401

15,860

18,957

-61,416

-25,647

-10,677

8,484

Total other income/expense

831,245

832,532

479,062

524,218

468,112

494,966

499,142

384,282

386,130

457,569

414,986

Cost of services:
Cost of services

102,026

76,492

58,628

51,182

-

-

64,961

78,375

-

-

-

Operating expenses:
Salaries and benefits

463,503

436,179

301,885

255,924

247,914

228,079

196,169

192,826

177,951

166,011

151,285

Depreciation and amortization

105,049

86,896

39,541

33,933

26,343

21,134

18,311

33,625

29,744

38,444

38,496

Restructure expense

-

-

-

-

-

-

-

-

-

6,020

7,982

Litigation settlement

-

-

-

-

-

-

-

-

-

55,000

0

Other expenses

194,272

178,031

143,112

117,678

123,014

126,303

125,661

128,738

113,415

119,765

100,216

Total operating expenses

762,824

701,106

484,538

433,285

469,217

452,510

428,983

433,564

407,658

503,486

405,633

(Loss) income before income taxes

176,745

286,294

226,684

398,814

420,644

469,519

465,534

274,505

321,787

302,454

215,698

Income tax benefit (expense)

35,451

58,770

64,863

141,313

152,380

160,238

161,193

96,077

117,452

113,420

76,573

Net (loss) income

141,294

227,524

161,821

257,501

268,264

309,281

304,341

178,428

204,335

189,034

-

Net income attributable to noncontrolling interests

-509

-389

-11,345

750

285

1,671

1,669

431

0

0

-

Comprehensive (Income) Loss, Net of Tax, Attributable to Noncontrolling Interest

-

-

-

-

-

-

-

-

0

-

-

Net (loss) income attributable to Nelnet, Inc.

141,803

227,913

173,166

256,751

267,979

307,610

302,672

177,997

204,335

189,034

139,125

Earnings per common share:
Net (loss) income attributable to Nelnet, Inc. shareholders - basic and diluted (in dollars per share)

3.54

5.57

4.14

6.02

5.89

6.62

6.50

3.76

4.24

-

-

Weighted average common shares outstanding - basic and diluted (in shares)

40,047

40,909

41,791

42,669

45,529

46,469

46,570

47,369

48,157

-

-

Net income attributable to Nelnet, Inc. shareholders - basic

-

-

-

-

-

-

-

-

-

3.82

2.79

Net income attributable to Nelnet, Inc. shareholders - diluted

-

-

-

-

-

-

-

-

-

3.81

2.78

Basic

-

-

-

-

-

-

-

-

-

49,127

49,484

Diluted

-

-

-

-

-

-

-

-

-

49,326

49,685

Loan servicing and systems
Revenue

455,255

440,027

223,000

214,846

239,858

240,414

243,428

209,748

175,657

158,584

129,911

Education technology, services, and payment processing
Revenue

277,331

221,962

193,188

175,682

120,365

98,156

80,682

74,410

67,797

59,824

53,894

Cost of services

81,603

59,566

48,678

44,316

-

-

-

-

-

-

-

Communications services
Revenue

64,269

44,653

25,700

17,659

0

0

-

-

-

-

-

Cost of services

20,423

16,926

9,950

6,866

-

-

-

-

-

-

-

Enrollment services revenue
Revenue

-

-

-

4,326

51,073

62,949

98,078

117,925

130,470

139,897

119,397