2014 Q3 Form 10-Q Financial Statement

#000125860214000061 Filed on November 06, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q3
Revenue $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue $14.18M $14.67M
YoY Change -3.34% -77.91%
Gross Profit -$14.18M -$14.67M
YoY Change -3.34% -108.05%
Gross Profit Margin
Selling, General & Admin $75.30M $63.40M
YoY Change 18.77% -4.66%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.10M $19.10M
YoY Change 52.36% -506.38%
% of Gross Profit
Operating Expenses $117.4M $107.6M
YoY Change 9.14% 2.54%
Operating Profit -$131.6M -$122.3M
YoY Change 7.65% -258.05%
Interest Expense $71.94M $55.32M
YoY Change 30.05% -16.7%
% of Operating Profit
Other Income/Expense, Net $29.60M $39.89M
YoY Change -25.79% -233.01%
Pretax Income $131.9M $93.49M
YoY Change 41.07% 58.94%
Income Tax $46.51M $30.44M
% Of Pretax Income 35.27% 32.56%
Net Earnings $85.22M $62.83M
YoY Change 35.63% 70.6%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $1.836M $1.351M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $75.00M $51.00M
YoY Change 47.06% -45.74%
Cash & Equivalents $74.58M $51.39M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $28.76B $24.79B
Other Receivables $0.00 $0.00
Total Short-Term Assets $28.84B $24.84B
YoY Change 16.07% 8.05%
LONG-TERM ASSETS
Property, Plant & Equipment $44.65M $33.01M
YoY Change 35.24% 0.8%
Goodwill $126.2M $117.1M
YoY Change 7.75% 0.0%
Intangibles $42.88M $6.932M
YoY Change 518.52% -51.73%
Long-Term Investments $148.0M $233.0M
YoY Change -36.48% 150.54%
Other Assets $940.0M $769.0M
YoY Change 22.24% -23.41%
Total Long-Term Assets $1.863B $1.693B
YoY Change 10.03% 19.57%
TOTAL ASSETS
Total Short-Term Assets $28.84B $24.84B
Total Long-Term Assets $1.863B $1.693B
Total Assets $30.70B $26.54B
YoY Change 15.68% 8.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $73.00M $94.00M
YoY Change -22.34% -4.08%
Accrued Expenses $25.00M $14.00M
YoY Change 78.57% -17.65%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $98.00M $108.0M
YoY Change -9.26% -6.09%
LONG-TERM LIABILITIES
Long-Term Debt $28.74B $24.86B
YoY Change 15.6% 8.63%
Other Long-Term Liabilities $206.0M $193.0M
YoY Change 6.74% -17.52%
Total Long-Term Liabilities $28.94B $25.05B
YoY Change 15.54% 8.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $98.00M $108.0M
Total Long-Term Liabilities $28.94B $25.05B
Total Liabilities $29.04B $25.16B
YoY Change 15.43% 8.29%
SHAREHOLDERS EQUITY
Retained Earnings $1.634B $1.348B
YoY Change 21.22% 19.81%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.657B $1.378B
YoY Change
Total Liabilities & Shareholders Equity $30.70B $26.54B
YoY Change 15.68% 8.72%

Cashflow Statement

Concept 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $85.22M $62.83M
YoY Change 35.63% 70.6%
Depreciation, Depletion And Amortization $29.10M $19.10M
YoY Change 52.36% -506.38%
Cash From Operating Activities $106.6M $49.40M
YoY Change 115.79% -50.25%
INVESTING ACTIVITIES
Capital Expenditures -$12.70M -$2.100M
YoY Change 504.76% -30.0%
Acquisitions
YoY Change
Other Investing Activities $631.1M -$178.4M
YoY Change -453.76% -119.24%
Cash From Investing Activities $618.4M -$180.5M
YoY Change -442.6% -119.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -742.5M 113.9M
YoY Change -751.89% -111.55%
NET CHANGE
Cash From Operating Activities 106.6M 49.40M
Cash From Investing Activities 618.4M -180.5M
Cash From Financing Activities -742.5M 113.9M
Net Change In Cash -17.50M -17.20M
YoY Change 1.74% -145.99%
FREE CASH FLOW
Cash From Operating Activities $106.6M $49.40M
Capital Expenditures -$12.70M -$2.100M
Free Cash Flow $119.3M $51.50M
YoY Change 131.65% -49.66%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Basis Of Accounting
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Basis of Financial Reporting</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited consolidated financial statements of Nelnet, Inc. and subsidiaries (the &#8220;Company&#8221;) as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">September&#160;30, 2014</font><font style="font-family:inherit;font-size:10pt;"> and for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three and nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">September 30, 2014 and 2013</font><font style="font-family:inherit;font-size:10pt;"> have been prepared on the same basis as the audited consolidated financial statements for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;"> and, in the opinion of the Company&#8217;s management, the unaudited consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of results of operations for the interim periods presented. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Operating results for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three and nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">September&#160;30, 2014</font><font style="font-family:inherit;font-size:10pt;"> are not necessarily indicative of the results for the year ending </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;">. The unaudited consolidated financial statements should be read in conjunction with the Company&#8217;s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;"> (the "2013 Annual Report").</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>
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CY2013Q4 nni Derivative Assets Not Designated As Hedging Instruments Net
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nni Derivative Market Value And Foreign Currency Adjustment
DerivativeMarketValueAndForeignCurrencyAdjustment
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nni Derivative Market Value And Foreign Currency Adjustment
DerivativeMarketValueAndForeignCurrencyAdjustment
47841000 USD
CY2014Q3 nni Derivative Market Value And Foreign Currency Adjustment
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nni Derivative Market Value And Foreign Currency Adjustments And Derivative Settlements Net
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24203000 USD
nni Derivative Market Value And Foreign Currency Adjustments And Derivative Settlements Net
DerivativeMarketValueAndForeignCurrencyAdjustmentsAndDerivativeSettlementsNet
21508000 USD
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nni Derivative Settlements
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nni Enrollment Services Revenue
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nni Enrollment Services Revenue
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22936000 USD
nni Gain On Sale Of Financing Receivables
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34000 USD
nni Gain On Sale Of Financing Receivables
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nni Gain On Sale Of Loans And Debt Repurchases Net
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10900000 USD
nni Gain On Sale Of Loans And Debt Repurchases Net
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57000 USD
CY2013Q3 nni Gain On Sale Of Loans And Debt Repurchases Net
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2138000 USD
CY2014Q3 nni Gain On Sale Of Loans And Debt Repurchases Net
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0 USD
CY2013Q3 nni Income Loss Before Income Taxes And Corporate Overhead Allocation
IncomeLossBeforeIncomeTaxesAndCorporateOverheadAllocation
93490000 USD
nni Income Loss Before Income Taxes And Corporate Overhead Allocation
IncomeLossBeforeIncomeTaxesAndCorporateOverheadAllocation
356890000 USD
nni Income Loss Before Income Taxes And Corporate Overhead Allocation
IncomeLossBeforeIncomeTaxesAndCorporateOverheadAllocation
365564000 USD
CY2014Q3 nni Income Loss Before Income Taxes And Corporate Overhead Allocation
IncomeLossBeforeIncomeTaxesAndCorporateOverheadAllocation
131889000 USD
nni Intersegment Expenses
IntersegmentExpenses
0 USD
CY2013Q3 nni Intersegment Expenses
IntersegmentExpenses
0 USD
CY2014Q3 nni Intersegment Expenses
IntersegmentExpenses
0 USD
nni Intersegment Expenses
IntersegmentExpenses
0 USD
nni Loan Interest
LoanInterest
520224000 USD
nni Loan Interest
LoanInterest
472277000 USD
CY2013Q3 nni Loan Interest
LoanInterest
158675000 USD
CY2014Q3 nni Loan Interest
LoanInterest
187862000 USD
nni Payments To Terminate Andor Amend Derivative Instruments
PaymentsToTerminateAndorAmendDerivativeInstruments
9200000 USD
nni Payments To Terminate Andor Amend Derivative Instruments
PaymentsToTerminateAndorAmendDerivativeInstruments
0 USD
nni Paymentstoterminateandoramendderivativeinstrumentsnetofproceeds
Paymentstoterminateandoramendderivativeinstrumentsnetofproceeds
6469000 USD
nni Paymentstoterminateandoramendderivativeinstrumentsnetofproceeds
Paymentstoterminateandoramendderivativeinstrumentsnetofproceeds
0 USD
nni Proceeds To Terminate And Or Amend Derivative Instruments
ProceedsToTerminateAndOrAmendDerivativeInstruments
2700000 USD
nni Proceeds To Terminate And Or Amend Derivative Instruments
ProceedsToTerminateAndOrAmendDerivativeInstruments
0 USD
CY2013Q3 nni Purchase Or Sale Of Financing Receivables
PurchaseOrSaleOfFinancingReceivables
-700000 USD
nni Purchase Or Sale Of Financing Receivables
PurchaseOrSaleOfFinancingReceivables
1243000 USD
CY2014Q3 nni Purchase Or Sale Of Financing Receivables
PurchaseOrSaleOfFinancingReceivables
-70000 USD
nni Purchase Or Sale Of Financing Receivables
PurchaseOrSaleOfFinancingReceivables
-320000 USD
nni Purchases Of Student Loans From Related Party
PurchasesOfStudentLoansFromRelatedParty
466941000 USD
nni Purchases Of Student Loans From Related Party
PurchasesOfStudentLoansFromRelatedParty
175000 USD
CY2013Q3 nni Repurchase Obligation
RepurchaseObligation
14023000 USD
CY2013Q4 nni Repurchase Obligation
RepurchaseObligation
16143000 USD
CY2014Q3 nni Repurchase Obligation
RepurchaseObligation
13531000 USD
CY2013Q2 nni Repurchase Obligation
RepurchaseObligation
14594000 USD
CY2014Q2 nni Repurchase Obligation
RepurchaseObligation
14827000 USD
CY2012Q4 nni Repurchase Obligation
RepurchaseObligation
16130000 USD
CY2013Q4 nni Restricted Cash Due To Customers
RestrictedCashDueToCustomers
167576000 USD
CY2014Q3 nni Restricted Cash Due To Customers
RestrictedCashDueToCustomers
72836000 USD
nni Student Loan Discount Accretion
StudentLoanDiscountAccretion
-26333000 USD
nni Student Loan Discount Accretion
StudentLoanDiscountAccretion
-32393000 USD
nni Transferfromthe Repurchase Obligation Relatedto Loans Soldor Purchasedandothernet
TransferfromtheRepurchaseObligationRelatedtoLoansSoldorPurchasedandothernet
2469000 USD
CY2014Q3 nni Transferfromthe Repurchase Obligation Relatedto Loans Soldor Purchasedandothernet
TransferfromtheRepurchaseObligationRelatedtoLoansSoldorPurchasedandothernet
1296000 USD
CY2013Q3 nni Transferfromthe Repurchase Obligation Relatedto Loans Soldor Purchasedandothernet
TransferfromtheRepurchaseObligationRelatedtoLoansSoldorPurchasedandothernet
571000 USD
nni Transferfromthe Repurchase Obligation Relatedto Loans Soldor Purchasedandothernet
TransferfromtheRepurchaseObligationRelatedtoLoansSoldorPurchasedandothernet
2107000 USD
CY2014Q3 nni Transfertothe Allowancefor Loan Losses Relatedto Loans Soldor Purchasedandothernet
TransfertotheAllowanceforLoanLossesRelatedtoLoansSoldorPurchasedandothernet
1296000 USD
nni Transfertothe Allowancefor Loan Losses Relatedto Loans Soldor Purchasedandothernet
TransfertotheAllowanceforLoanLossesRelatedtoLoansSoldorPurchasedandothernet
2612000 USD
nni Transfertothe Allowancefor Loan Losses Relatedto Loans Soldor Purchasedandothernet
TransfertotheAllowanceforLoanLossesRelatedtoLoansSoldorPurchasedandothernet
2107000 USD
CY2013Q3 nni Transfertothe Allowancefor Loan Losses Relatedto Loans Soldor Purchasedandothernet
TransfertotheAllowanceforLoanLossesRelatedtoLoansSoldorPurchasedandothernet
571000 USD
CY2013Q3 nni Tuition Payment Processing And Campus Commerce Revenue
TuitionPaymentProcessingAndCampusCommerceRevenue
19927000 USD
nni Tuition Payment Processing And Campus Commerce Revenue
TuitionPaymentProcessingAndCampusCommerceRevenue
73468000 USD
CY2014Q3 nni Tuition Payment Processing And Campus Commerce Revenue
TuitionPaymentProcessingAndCampusCommerceRevenue
26399000 USD
nni Tuition Payment Processing And Campus Commerce Revenue
TuitionPaymentProcessingAndCampusCommerceRevenue
61694000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001258602
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2013Q2 dei Entity Public Float
EntityPublicFloat
940529760.75 USD
dei Entity Registrant Name
EntityRegistrantName
NELNET INC
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

Files In Submission

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0001258602-14-000061-index-headers.html Edgar Link pending
0001258602-14-000061-index.html Edgar Link pending
0001258602-14-000061.txt Edgar Link pending
0001258602-14-000061-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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futurecashflowsq314.jpg Edgar Link pending
lgsloanservicingvolumeq314re.jpg Edgar Link pending
nni-20140930.xml Edgar Link completed
nni-20140930.xsd Edgar Link pending
nni-20140930_cal.xml Edgar Link unprocessable
nni-20140930_def.xml Edgar Link unprocessable
nni-20140930_lab.xml Edgar Link unprocessable
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