Nelnet Inc. (NNI) Financial Statements (2024 and earlier)

Company Profile

Business Address 121 SOUTH 13TH ST
LINCOLN, NE 68508
State of Incorp. NE
Fiscal Year End December 31
Industry (SIC) 6141 - Personal Credit Institutions (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments168,112118,146125,563163,290146,806138,994
Cash and cash equivalents168,112118,146125,563121,249133,906121,347
Short-term investments    42,04112,90017,647
Restricted cash and investments 57,50055,000    
Total current assets:225,612173,146125,563163,290146,806138,994
Noncurrent Assets
Operating lease, right-of-use asset 13,56514,85214,31418,30132,770
Property, plant and equipment127,008122,526119,413123,527348,259344,784
Intangible assets, net (including goodwill)202,848240,403194,121217,162238,444271,202
Goodwill158,029176,902142,092142,092156,912156,912
Intangible assets, net (excluding goodwill)44,81963,50152,02975,07081,532114,290
Total noncurrent assets:343,421377,781327,848358,990619,473615,986
Other undisclosed assets16,167,61218,823,11721,224,63022,123,88022,942,69124,465,988
TOTAL ASSETS:16,736,64519,374,04421,678,04122,646,16023,708,97025,220,968
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities  5,200    
Accrued liabilities  5,200    
Total current liabilities:  5,200    
Noncurrent Liabilities
Other undisclosed liabilities13,514,73016,168,94218,725,20320,017,81121,317,87622,906,189
Total liabilities:13,514,73016,174,14218,725,20320,017,81121,317,87622,906,189
Equity
Equity, attributable to parent, including:3,262,6213,198,9592,951,2062,632,0422,386,7122,304,061
Additional paid in capital3,0961,1091,0003,7945,715622
Accumulated other comprehensive income (loss)(20,119)(37,366)9,3046,1022,9723,883
Retained earnings3,279,2733,234,8442,940,5232,621,7622,377,6272,299,556
Other undisclosed equity, attributable to parent371372379384398 
Equity, attributable to noncontrolling interest(40,706)9431,632(3,693)4,38210,315
Other undisclosed equity      403
Total equity:3,221,9153,199,9022,952,8382,628,3492,391,0942,314,779
TOTAL LIABILITIES AND EQUITY:16,736,64519,374,04421,678,04122,646,16023,708,97025,220,968

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues27,27170,25978,68157,56165,17954,446
Contractually specified servicing fee, late fee, and ancillary fee earned in exchange for servicing financial asset15,79018,707    
Gain on disposition of assets for financial service operations      
Premiums earned, net 20,067     
Realized investment gains (losses)(8,586)51,552    
Other income   78,68157,56165,17954,446
Cost of revenue(219,759)(168,374)(96,234)(168,378)(141,026)(99,492)
Cost of goods and services sold(219,759)(168,374)(108,660)(105,018)(102,026)(76,492)
Provision for loan, lease, and other losses   12,426(63,360)(39,000)(23,000)
Gross profit:(192,488)(98,115)(17,553)(110,817)(75,847)(45,046)
Operating expenses(860,506)(834,434)(726,342)(781,105)(762,824)(701,106)
Operating loss:(1,052,994)(932,549)(743,895)(891,922)(838,671)(746,152)
Nonoperating income
(Investment Income, Nonoperating)
177,85591,60141,498283,13134,42126,600
Interest and debt expense(845,091)(428,906)(176,233)(330,071)(699,327)(669,547)
Loss from continuing operations before equity method investments, income taxes:(1,720,230)(1,269,854)(878,630)(938,862)(1,503,577)(1,389,099)
Other undisclosed income from continuing operations before income taxes1,794,4181,779,3191,380,7351,389,3481,680,3221,675,393
Income from continuing operations before income taxes:74,188509,465502,105450,486176,745286,294
Income tax expense(19,753)(113,224)(115,822)(100,860)(35,451)(58,770)
Income from continuing operations:54,435396,241386,283349,626141,294227,524
Income before gain (loss) on sale of properties:386,283349,626141,294227,524
Net income:54,435396,241386,283349,626141,294227,524
Net income attributable to noncontrolling interest37,09711,1067,0032,817509389
Net income available to common stockholders, diluted:91,532407,347393,286352,443141,803227,913

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:54,435396,241386,283349,626141,294227,524
Other comprehensive income (loss)17,247(46,670)3,2023,130(911)9
Comprehensive income:71,682349,571389,485352,756140,383227,533
Comprehensive income, net of tax, attributable to noncontrolling interest37,09711,1067,0032,817509389
Comprehensive income, net of tax, attributable to parent:108,779360,677396,488355,573140,892227,922

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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