2017 Q2 Form 10-Q Financial Statement
#000125860217000038 Filed on August 07, 2017
Income Statement
Concept | 2017 Q2 | 2016 Q2 |
---|---|---|
Revenue | $0.00 | $0.00 |
YoY Change | ||
Cost Of Revenue | $11.72M | $0.00 |
YoY Change | -100.0% | |
Gross Profit | -$11.72M | $0.00 |
YoY Change | -100.0% | |
Gross Profit Margin | ||
Selling, General & Admin | $74.60M | $60.90M |
YoY Change | 22.5% | -12.88% |
% of Gross Profit | ||
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $6.700M | $5.400M |
YoY Change | 24.07% | 31.71% |
% of Gross Profit | ||
Operating Expenses | $115.6M | $107.4M |
YoY Change | 7.58% | -7.27% |
Operating Profit | -$127.3M | -$107.4M |
YoY Change | 18.49% | -14.9% |
Interest Expense | $113.2M | $94.05M |
YoY Change | 20.4% | 29.5% |
% of Operating Profit | ||
Other Income/Expense, Net | $26.26M | $29.41M |
YoY Change | -10.7% | -10.13% |
Pretax Income | $40.68M | $41.21M |
YoY Change | -1.29% | -62.98% |
Income Tax | $16.03M | $15.04M |
% Of Pretax Income | 39.41% | 36.48% |
Net Earnings | $28.74M | $26.15M |
YoY Change | 9.89% | -63.12% |
Net Earnings / Revenue | ||
Basic Earnings Per Share | ||
Diluted Earnings Per Share | $678.5K | $612.1K |
COMMON SHARES | ||
Basic Shares Outstanding | ||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2017 Q2 | 2016 Q2 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $69.00M | $59.00M |
YoY Change | 16.95% | -67.58% |
Cash & Equivalents | $69.24M | $59.25M |
Short-Term Investments | ||
Other Short-Term Assets | ||
YoY Change | ||
Inventory | ||
Prepaid Expenses | ||
Receivables | $60.00M | $42.00M |
Other Receivables | $396.0M | $380.0M |
Total Short-Term Assets | $525.0M | $481.0M |
YoY Change | 9.15% | -98.3% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $181.1M | $96.08M |
YoY Change | 88.49% | 99.97% |
Goodwill | $147.3M | $147.3M |
YoY Change | 0.0% | 16.73% |
Intangibles | $43.08M | $54.14M |
YoY Change | -20.44% | 43.29% |
Long-Term Investments | $290.0M | $286.0M |
YoY Change | 1.4% | 16.26% |
Other Assets | $917.0M | $1.097B |
YoY Change | -16.41% | 12.4% |
Total Long-Term Assets | $24.80B | $28.23B |
YoY Change | -12.17% | 1379.95% |
TOTAL ASSETS | ||
Total Short-Term Assets | $525.0M | $481.0M |
Total Long-Term Assets | $24.80B | $28.23B |
Total Assets | $25.32B | $28.72B |
YoY Change | -11.81% | -5.06% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $137.0M | $132.0M |
YoY Change | 3.79% | 11.86% |
Accrued Expenses | $47.00M | $40.00M |
YoY Change | 17.5% | 37.93% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $184.0M | $172.0M |
YoY Change | 6.98% | 17.01% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $22.79B | $26.40B |
YoY Change | -13.67% | -5.95% |
Other Long-Term Liabilities | $218.0M | $238.0M |
YoY Change | -8.4% | 6.25% |
Total Long-Term Liabilities | $23.01B | $26.64B |
YoY Change | -13.62% | -5.85% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $184.0M | $172.0M |
Total Long-Term Liabilities | $23.01B | $26.64B |
Total Liabilities | $23.19B | $26.81B |
YoY Change | -13.49% | -5.74% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | $2.110B | $1.895B |
YoY Change | 11.38% | 5.17% |
Common Stock | ||
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $2.115B | $1.897B |
YoY Change | ||
Total Liabilities & Shareholders Equity | $25.32B | $28.72B |
YoY Change | -11.81% | -5.06% |
Cashflow Statement
Concept | 2017 Q2 | 2016 Q2 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $28.74M | $26.15M |
YoY Change | 9.89% | -63.12% |
Depreciation, Depletion And Amortization | $6.700M | $5.400M |
YoY Change | 24.07% | 31.71% |
Cash From Operating Activities | $84.30M | $70.70M |
YoY Change | 19.24% | 12.76% |
INVESTING ACTIVITIES | ||
Capital Expenditures | -$44.30M | -$14.30M |
YoY Change | 209.79% | 1200.0% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $1.010B | $914.1M |
YoY Change | 10.55% | 211.34% |
Cash From Investing Activities | $966.2M | $899.7M |
YoY Change | 7.39% | 207.59% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | -870.2M | -962.2M |
YoY Change | -9.56% | 252.71% |
NET CHANGE | ||
Cash From Operating Activities | 84.30M | 70.70M |
Cash From Investing Activities | 966.2M | 899.7M |
Cash From Financing Activities | -870.2M | -962.2M |
Net Change In Cash | 180.3M | 8.200M |
YoY Change | 2098.78% | -90.05% |
FREE CASH FLOW | ||
Cash From Operating Activities | $84.30M | $70.70M |
Capital Expenditures | -$44.30M | -$14.30M |
Free Cash Flow | $128.6M | $85.00M |
YoY Change | 51.29% | 33.23% |
Facts In Submission
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|
3623000 | USD | |
CY2016Q4 | us-gaap |
Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
|
24668490000 | USD |
CY2017Q2 | us-gaap |
Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
|
22790780000 | USD |
CY2016Q4 | us-gaap |
Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
|
-431930000 | USD |
CY2017Q2 | us-gaap |
Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
|
-399971000 | USD |
us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-20260000 | USD | |
us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-15249000 | USD | |
CY2016Q2 | us-gaap |
Depreciation
Depreciation
|
5400000 | USD |
us-gaap |
Depreciation
Depreciation
|
10600000 | USD | |
CY2017Q2 | us-gaap |
Depreciation
Depreciation
|
6700000 | USD |
us-gaap |
Depreciation
Depreciation
|
12900000 | USD | |
CY2016Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
8183000 | USD |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
15823000 | USD | |
CY2017Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
9038000 | USD |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
17636000 | USD | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
62298000 | USD | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
66805000 | USD | |
CY2016Q4 | us-gaap |
Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue
|
87531000 | USD |
CY2017Q2 | us-gaap |
Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue
|
1619000 | USD |
us-gaap |
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
|
-48649000 | USD | |
us-gaap |
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
|
951000 | USD | |
CY2016Q4 | us-gaap |
Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue
|
77826000 | USD |
CY2016Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.61 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
1.73 | ||
CY2017Q2 | us-gaap |
Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue
|
46406000 | USD |
CY2016Q2 | us-gaap |
Dividends Common Stock Cash
DividendsCommonStockCash
|
5099000 | USD |
us-gaap |
Dividends Common Stock Cash
DividendsCommonStockCash
|
10192000 | USD | |
CY2017Q2 | us-gaap |
Dividends Common Stock Cash
DividendsCommonStockCash
|
5907000 | USD |
us-gaap |
Dividends Common Stock Cash
DividendsCommonStockCash
|
11803000 | USD | |
CY2017Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.68 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
1.86 | ||
CY2015Q4 | us-gaap |
Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
|
50498000 | USD |
CY2016Q1 | us-gaap |
Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
|
50084000 | USD |
CY2016Q2 | us-gaap |
Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
|
48753000 | USD |
CY2016Q4 | us-gaap |
Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
|
51842000 | USD |
CY2017Q1 | us-gaap |
Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
|
50526000 | USD |
CY2017Q2 | us-gaap |
Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
|
49708000 | USD |
CY2016Q2 | us-gaap |
Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
|
3731000 | USD |
us-gaap |
Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
|
7181000 | USD | |
CY2017Q2 | us-gaap |
Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
|
3113000 | USD |
us-gaap |
Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
|
5776000 | USD | |
us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P144M | ||
CY2017Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
16964000 | USD |
CY2017Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
4650000 | USD |
CY2017Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
3480000 | USD |
CY2017Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
4231000 | USD |
CY2017Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
5147000 | USD |
CY2017Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
8605000 | USD |
CY2016Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
47813000 | USD |
CY2017Q2 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
43077000 | USD |
us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
-8712000 | USD | |
us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
-31951000 | USD | |
us-gaap |
Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
|
101000 | USD | |
us-gaap |
Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
|
5421000 | USD | |
CY2016Q4 | us-gaap |
Goodwill
Goodwill
|
147312000 | USD |
CY2017Q2 | us-gaap |
Goodwill
Goodwill
|
147312000 | USD |
CY2016Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
41214000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
113677000 | USD | |
CY2017Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
40683000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
117358000 | USD | |
CY2016Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
41214000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
113677000 | USD | |
CY2017Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
40683000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
117358000 | USD | |
CY2016Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
15036000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
39469000 | USD | |
CY2017Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
16032000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
44787000 | USD | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
55988000 | USD | |
us-gaap |
Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
|
4470000 | USD | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
46193000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-9462000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
16274000 | USD | |
us-gaap |
Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
|
-3685000 | USD | |
us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-10006000 | USD | |
us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-7891000 | USD | |
us-gaap |
Increase Decrease In Restricted Cash And Investments
IncreaseDecreaseInRestrictedCashAndInvestments
|
131325000 | USD | |
us-gaap |
Increase Decrease In Restricted Cash And Investments
IncreaseDecreaseInRestrictedCashAndInvestments
|
-226409000 | USD | |
CY2016Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
47813000 | USD |
CY2017Q2 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
43077000 | USD |
CY2016Q2 | us-gaap |
Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
|
186252000 | USD |
us-gaap |
Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
|
378269000 | USD | |
CY2017Q2 | us-gaap |
Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
|
193077000 | USD |
us-gaap |
Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
|
376901000 | USD | |
CY2016Q2 | us-gaap |
Interest Expense
InterestExpense
|
94052000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
184460000 | USD | |
CY2017Q2 | us-gaap |
Interest Expense
InterestExpense
|
113236000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
220135000 | USD | |
CY2016Q2 | us-gaap |
Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
|
90200000 | USD |
us-gaap |
Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
|
189309000 | USD | |
CY2017Q2 | us-gaap |
Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
|
77841000 | USD |
us-gaap |
Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
|
153766000 | USD | |
CY2016Q2 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
92200000 | USD |
us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
193809000 | USD | |
CY2017Q2 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
79841000 | USD |
us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
156766000 | USD | |
us-gaap |
Interest Paid
InterestPaid
|
142446000 | USD | |
us-gaap |
Interest Paid
InterestPaid
|
183821000 | USD | |
CY2016Q4 | us-gaap |
Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
|
45677000 | USD |
CY2017Q2 | us-gaap |
Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
|
47064000 | USD |
CY2016Q4 | us-gaap |
Interest Receivable
InterestReceivable
|
391264000 | USD |
CY2017Q2 | us-gaap |
Interest Receivable
InterestReceivable
|
395734000 | USD |
CY2016Q2 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
2185000 | USD |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
4214000 | USD | |
CY2017Q2 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
3589000 | USD |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
6206000 | USD | |
CY2016Q2 | us-gaap |
Labor And Related Expense
LaborAndRelatedExpense
|
60923000 | USD |
us-gaap |
Labor And Related Expense
LaborAndRelatedExpense
|
124165000 | USD | |
CY2017Q2 | us-gaap |
Labor And Related Expense
LaborAndRelatedExpense
|
74628000 | USD |
us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
219000 | USD | |
us-gaap |
Labor And Related Expense
LaborAndRelatedExpense
|
146491000 | USD | |
CY2016Q4 | us-gaap |
Liabilities
Liabilities
|
25109183000 | USD |
CY2017Q2 | us-gaap |
Liabilities
Liabilities
|
23192678000 | USD |
CY2016Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
27180108000 | USD |
CY2017Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
25323087000 | USD |
CY2016Q4 | us-gaap |
Minority Interest
MinorityInterest
|
9270000 | USD |
CY2017Q2 | us-gaap |
Minority Interest
MinorityInterest
|
15215000 | USD |
CY2016Q2 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
122000 | USD |
CY2017Q2 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
205000 | USD |
us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
515000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-1808920000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-1956858000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
1629415000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
1824311000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
175229000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
132132000 | USD | |
CY2016Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
26150000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
74111000 | USD | |
CY2017Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
28737000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
78763000 | USD | |
CY2016Q2 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
28000 | USD |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
97000 | USD | |
CY2017Q2 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-4086000 | USD |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-6192000 | USD | |
CY2017Q2 | us-gaap |
Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
|
26000 | USD |
us-gaap |
Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
|
12652000 | USD | |
us-gaap |
Noninterest Income
NoninterestIncome
|
197596000 | USD | |
CY2016Q2 | us-gaap |
Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
|
338000 | USD |
us-gaap |
Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
|
1312000 | USD | |
CY2016Q2 | us-gaap |
Noninterest Income
NoninterestIncome
|
58426000 | USD |
us-gaap |
Noninterest Income
NoninterestIncome
|
143290000 | USD | |
CY2017Q2 | us-gaap |
Noninterest Income
NoninterestIncome
|
81859000 | USD |
CY2016Q4 | us-gaap |
Notes Receivable Net
NotesReceivableNet
|
24903724000 | USD |
CY2017Q2 | us-gaap |
Notes Receivable Net
NotesReceivableNet
|
23202294000 | USD |
CY2016Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
107412000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
218922000 | USD | |
CY2017Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
119017000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
234004000 | USD | |
CY2016Q4 | us-gaap |
Other Assets
OtherAssets
|
10245000 | USD |
CY2017Q2 | us-gaap |
Other Assets
OtherAssets
|
15123000 | USD |
CY2016Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-3693000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-4561000 | USD | |
CY2017Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-1064000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-479000 | USD | |
CY2016Q2 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
|
-277000 | USD |
us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
|
-409000 | USD | |
CY2017Q2 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
|
409000 | USD |
us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
|
740000 | USD | |
CY2016Q2 | us-gaap |
Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
|
-2168000 | USD |
us-gaap |
Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
|
-2678000 | USD | |
CY2017Q2 | us-gaap |
Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
|
-626000 | USD |
us-gaap |
Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
|
-283000 | USD | |
CY2016Q2 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
|
-6138000 | USD |
us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
|
-7648000 | USD | |
CY2017Q2 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
|
-1281000 | USD |
us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
|
-22000 | USD | |
CY2016Q2 | us-gaap |
Other Expenses
OtherExpenses
|
29409000 | USD |
us-gaap |
Other Expenses
OtherExpenses
|
57783000 | USD | |
CY2017Q2 | us-gaap |
Other Expenses
OtherExpenses
|
27528000 | USD |
us-gaap |
Other Expenses
OtherExpenses
|
54075000 | USD | |
CY2016Q2 | us-gaap |
Other Income
OtherIncome
|
9765000 | USD |
us-gaap |
Other Income
OtherIncome
|
23559000 | USD | |
CY2017Q2 | us-gaap |
Other Income
OtherIncome
|
12485000 | USD |
us-gaap |
Other Income
OtherIncome
|
25118000 | USD | |
CY2016Q4 | us-gaap |
Other Liabilities
OtherLiabilities
|
197488000 | USD |
CY2017Q2 | us-gaap |
Other Liabilities
OtherLiabilities
|
171528000 | USD |
us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-3681000 | USD | |
us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-2209000 | USD | |
CY2016Q4 | us-gaap |
Payables To Customers
PayablesToCustomers
|
119702000 | USD |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
2256000 | USD | |
CY2017Q2 | us-gaap |
Payables To Customers
PayablesToCustomers
|
136900000 | USD |
us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
10222000 | USD | |
us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
33131000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
52468000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
18195000 | USD | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
1084000 | USD | |
us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
10192000 | USD | |
us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
11803000 | USD | |
us-gaap |
Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
|
219000 | USD | |
us-gaap |
Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
|
515000 | USD | |
us-gaap |
Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
|
51735000 | USD | |
us-gaap |
Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
|
77118000 | USD | |
us-gaap |
Payments To Acquire Finance Receivables
PaymentsToAcquireFinanceReceivables
|
183375000 | USD | |
us-gaap |
Payments To Acquire Finance Receivables
PaymentsToAcquireFinanceReceivables
|
100843000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
29577000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
70814000 | USD | |
CY2016Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2017Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2016Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
50000000 | shares |
CY2017Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
50000000 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2017Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2017Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2017Q2 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
us-gaap |
Proceeds From Collection Of Finance Receivables
ProceedsFromCollectionOfFinanceReceivables
|
1927319000 | USD | |
us-gaap |
Proceeds From Collection Of Finance Receivables
ProceedsFromCollectionOfFinanceReceivables
|
1807765000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
417000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
221000 | USD | |
us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
226194000 | USD | |
us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
612279000 | USD | |
us-gaap |
Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
|
1312000 | USD | |
us-gaap |
Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
|
12600000 | USD | |
us-gaap |
Proceeds From Payments For Trading Securities
ProceedsFromPaymentsForTradingSecurities
|
-235000 | USD | |
us-gaap |
Proceeds From Payments For Trading Securities
ProceedsFromPaymentsForTradingSecurities
|
23000 | USD | |
us-gaap |
Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
|
58232000 | USD | |
us-gaap |
Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
|
66492000 | USD | |
us-gaap |
Proceeds From Sale Of Finance Receivables
ProceedsFromSaleOfFinanceReceivables
|
44738000 | USD | |
us-gaap |
Proceeds From Sale Of Finance Receivables
ProceedsFromSaleOfFinanceReceivables
|
0 | USD | |
CY2016Q2 | us-gaap |
Profit Loss
ProfitLoss
|
26178000 | USD |
us-gaap |
Profit Loss
ProfitLoss
|
74208000 | USD | |
CY2017Q2 | us-gaap |
Profit Loss
ProfitLoss
|
24651000 | USD |
us-gaap |
Profit Loss
ProfitLoss
|
72571000 | USD | |
CY2016Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
123786000 | USD |
CY2017Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
181098000 | USD |
CY2017Q2 | us-gaap |
Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
|
2000000 | USD |
us-gaap |
Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
|
3000000 | USD | |
CY2016Q2 | us-gaap |
Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
|
2000000 | USD |
us-gaap |
Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
|
4500000 | USD | |
us-gaap |
Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
|
1972880000 | USD | |
us-gaap |
Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
|
2549189000 | USD | |
CY2016Q4 | us-gaap |
Restricted Cash And Investments
RestrictedCashAndInvestments
|
980961000 | USD |
CY2017Q2 | us-gaap |
Restricted Cash And Investments
RestrictedCashAndInvestments
|
780141000 | USD |
CY2016Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
2056084000 | USD |
CY2017Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
2110158000 | USD |
CY2016Q2 | us-gaap |
Revenues
Revenues
|
0 | USD |
us-gaap |
Revenues
Revenues
|
0 | USD | |
CY2017Q2 | us-gaap |
Revenues
Revenues
|
0 | USD |
us-gaap |
Revenues
Revenues
|
0 | USD | |
CY2016Q2 | us-gaap |
Servicing Fees Net
ServicingFeesNet
|
54402000 | USD |
us-gaap |
Servicing Fees Net
ServicingFeesNet
|
106732000 | USD | |
CY2017Q2 | us-gaap |
Servicing Fees Net
ServicingFeesNet
|
56899000 | USD |
us-gaap |
Servicing Fees Net
ServicingFeesNet
|
111128000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2388000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2260000 | USD | |
CY2016Q2 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
954000 | USD |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
3662000 | USD | |
CY2017Q2 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
992000 | USD |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
3083000 | USD | |
CY2016Q2 | us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
399000 | USD |
us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
52468000 | USD | |
CY2017Q2 | us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
16826000 | USD |
us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
18195000 | USD | |
CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2061655000 | USD |
CY2017Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2115194000 | USD |
CY2015Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1892158000 | USD |
CY2016Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1886926000 | USD |
CY2016Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1906216000 | USD |
CY2016Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
2070925000 | USD |
CY2017Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
2127667000 | USD |
CY2017Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
2130409000 | USD |
CY2016Q2 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
42635700 | shares |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
42861896 | shares | |
CY2017Q2 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
42326540 | shares |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
42309295 | shares | |
us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<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%;text-align:left;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 “Company”) as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">June 30, 2017</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 six</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;">June 30, 2017 and 2016</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 31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and, in the opinion of the Company’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 six</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;">June 30, 2017</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 31, 2017</font><font style="font-family:inherit;font-size:10pt;">. The unaudited consolidated financial statements should be read in conjunction with the Company’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 31, 2016</font><font style="font-family:inherit;font-size:10pt;"> (the "</font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;"> 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 style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Consolidation</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 style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The consolidated financial statements include the accounts of Nelnet, Inc. and its consolidated subsidiaries. In addition, the accounts of all variable interest entities (“VIEs”) of which the Company has determined that it is the primary beneficiary are included in the consolidated financial statements. All significant intercompany balances and transactions have been eliminated in consolidation.</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 style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Variable Interest Entities</font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following entities are VIEs of which the Company has determined that it is the primary beneficiary. The primary beneficiary is the entity which has both: (1) the power to direct the activities of the VIE that most significantly impact the VIE's economic performance, and (2) the obligation to absorb losses or receive benefits of the entity that could potentially be significant to the VIE. </font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's education lending subsidiaries are engaged in the securitization of education finance assets. These education lending subsidiaries hold beneficial interests in eligible loans, subject to creditors with specific interests. The liabilities of the Company's education lending subsidiaries are not the direct obligations of Nelnet, Inc. or any of its other subsidiaries. Each education lending subsidiary is structured to be bankruptcy remote, meaning that it should not be consolidated in the event of bankruptcy of the parent company or any other subsidiary. The Company is generally the administrator and master servicer of the securitized assets held in its education lending subsidiaries and owns the residual interest of the securitization trusts. As a result, for accounting purposes, the transfers of student loans to the securitization trusts do not qualify as sales. Accordingly, all the financial activities and related assets and liabilities, including debt, of the securitizations are reflected in the Company's consolidated financial statements and are summarized as supplemental information on the balance sheet.</font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company owns </font><font style="font-family:inherit;font-size:10pt;">91.5 percent</font><font style="font-family:inherit;font-size:10pt;"> of the economic rights of Allo Communications LLC and has a disproportional </font><font style="font-family:inherit;font-size:10pt;">80 percent</font><font style="font-family:inherit;font-size:10pt;"> of the voting rights related to all operating decisions for Allo's business. Allo management, as current minority members, has the opportunity to earn an additional </font><font style="font-family:inherit;font-size:10pt;">11.5 percent</font><font style="font-family:inherit;font-size:10pt;"> of the total ownership interests based on the financial performance of Allo. In addition to the Company’s equity investment, Nelnet, Inc. (the parent) issued a </font><font style="font-family:inherit;font-size:10pt;">$200.0 million</font><font style="font-family:inherit;font-size:10pt;"> line of credit to Allo on December 30, 2015. The line of credit had </font><font style="font-family:inherit;font-size:10pt;">$114.0 million</font><font style="font-family:inherit;font-size:10pt;"> outstanding as of June 30, 2017. Nelnet, Inc.’s maximum exposure to loss as a result of its involvement with Allo is equal to its equity investment and the balance of the line of credit. The amounts owed by Allo to Nelnet, Inc., including the interest costs incurred by Allo and interest earnings recognized by Nelnet, Inc., are not reflected in the Company’s consolidated balance sheet as they were eliminated in consolidation. All of Allo’s financial activities and related assets and liabilities, excluding the line of credit, are reflected in the Company’s consolidated financial statements. See note 10, "Segment Reporting," for disclosure of Allo's total assets and results of operations (included in the "Communications" operating segment), note 7, "Goodwill," for disclosure of Allo's goodwill, and note 8, “Property and Equipment,” for disclosure of Allo’s fixed assets. Allo's goodwill and property and equipment comprise the majority of its assets. The assets recognized as a result of consolidating Allo are the property of Allo and are not available for any other purpose, other than to Nelnet, Inc. as a secured lender under Allo's line of credit.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Noncontrolling Interest</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 style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Nelnet Servicing, LLC ("Nelnet Servicing"), a subsidiary of the Company, and Great Lakes Educational Loan Services, Inc. ("Great Lakes") created a joint venture to respond to the U.S. Department of Education’s initiative to procure a contract for federal student loan servicing to acquire a single servicing platform to service all loans owned by the Department.  The joint venture operates as a new legal entity called GreatNet Solutions, LLC (“GreatNet”).  Nelnet Servicing and Great Lakes each own </font><font style="font-family:inherit;font-size:10pt;">50 percent</font><font style="font-family:inherit;font-size:10pt;"> of the ownership interests in GreatNet.  See note 11 for additional information on the contract procurement process.  </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 style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the first quarter of 2017, Nelnet Servicing and Great Lakes each contributed </font><font style="font-family:inherit;font-size:10pt;">$12.6 million</font><font style="font-family:inherit;font-size:10pt;"> to GreatNet and GreatNet began to incur certain operating costs.  For financial reporting purposes, the balance sheet and operating results of GreatNet are included in the Company’s consolidated financial statements and presented in the Company’s Loan Systems and Servicing operating segment.  The proportionate share of membership interest (equity) and net loss of GreatNet that is attributable to Great Lakes is reflected as noncontrolling interests in the consolidated financial statements.  </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 style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For a description of other entities in which the Company reflects noncontrolling interests in its consolidated financial statements, see note 2 of the notes to consolidated financial statements included in the 2016 Annual Report.</font></div></div> | ||
us-gaap |
Revenue Recognition Interest
RevenueRecognitionInterest
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company recognizes student loan interest income as earned, net of amortization of loan premiums and deferred origination costs and the accretion of loan discounts. Loan interest income is recognized based upon the expected yield of the loan after giving effect to interest rate reductions resulting from borrower utilization of incentives such as timely payments ("borrower benefits") and other yield adjustments. Loan premiums or discounts, deferred origination costs, and borrower benefits are amortized/accreted over the estimated life of the loans, which includes an estimate of forecasted payments in excess of contractually required payments. The Company periodically evaluates the assumptions used to estimate the life of the loans and prepayment rates. In instances where there are changes to the assumptions, amortization/accretion is adjusted on a cumulative basis to reflect the change since the acquisition of the loan.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">  </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the third quarter of 2016, the Company revised its policy to correct for an error in its method of applying the interest method used to amortize premiums and deferred origination costs and accrete discounts on its student loan portfolio. Previously, the Company amortized premiums and deferred origination costs and accreted discounts by including in its prepayment assumption forecasted payments in excess of contractually required payments as well as forecasted defaults. The Company has determined that only payments in excess of contractually required payments (excluding forecasted defaults) should be included in the prepayment assumption. Under the Company's revised policy, as of September 30, 2016, the constant prepayment rate used by the Company to amortize/accrete student loan premiums/discounts was decreased. The constant prepayment rates under the Company's revised policy are </font><font style="font-family:inherit;font-size:10pt;">5 percent</font><font style="font-family:inherit;font-size:10pt;"> for Stafford loans and </font><font style="font-family:inherit;font-size:10pt;">3 percent</font><font style="font-family:inherit;font-size:10pt;"> for Consolidation loans. The constant prepayment rates under the Company's prior policy in effect before this correction were </font><font style="font-family:inherit;font-size:10pt;">6 percent</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">4 percent</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></div> |