2021 Q3 Form 10-Q Financial Statement

#000125860221000076 Filed on November 08, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $136.7M $139.7M
YoY Change -2.21% -41.52%
Cost Of Revenue $31.34M $31.16M
YoY Change 0.57% 0.81%
Gross Profit $105.3M $108.6M
YoY Change -3.01% -47.8%
Gross Profit Margin 77.07% 77.7%
Selling, General & Admin $128.6M $126.1M
YoY Change 1.98% 5.17%
% of Gross Profit 122.1% 116.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.40M $22.30M
YoY Change -44.39% 13.2%
% of Gross Profit 11.77% 20.54%
Operating Expenses $182.6M $191.1M
YoY Change -4.46% -5.7%
Operating Profit -$77.31M -$82.56M
YoY Change -6.36% -1646.65%
Interest Expense $50.18M $58.42M
YoY Change -14.12% -66.13%
% of Operating Profit
Other Income/Expense, Net $38.32M $34.74M
YoY Change 10.3% -40.43%
Pretax Income $66.87M $90.33M
YoY Change -25.98% 115.26%
Income Tax $15.65M $19.16M
% Of Pretax Income 23.4% 21.21%
Net Earnings $53.14M $71.50M
YoY Change -25.68% 115.29%
Net Earnings / Revenue 38.89% 51.17%
Basic Earnings Per Share $1.38 $1.86
Diluted Earnings Per Share $1.38 $1.86
COMMON SHARES
Basic Shares Outstanding 38.60M shares 38.54M shares
Diluted Shares Outstanding 38.60M shares 38.54M shares

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.040B $305.7M
YoY Change 240.06% 32.44%
Cash & Equivalents $191.9M $96.32M
Short-Term Investments $847.8M $209.4M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $78.51M $70.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $270.4M $166.0M
YoY Change 62.92% -82.8%
LONG-TERM ASSETS
Property, Plant & Equipment $117.3M $360.5M
YoY Change -67.46% 5.28%
Goodwill $142.1M $156.9M
YoY Change -9.44% 0.0%
Intangibles $55.18M $58.70M
YoY Change -6.01% -34.41%
Long-Term Investments $1.375B $477.0M
YoY Change 188.24% 125.0%
Other Assets $1.059B $805.0M
YoY Change 31.57% -17.6%
Total Long-Term Assets $22.13B $22.06B
YoY Change 0.34% -3.98%
TOTAL ASSETS
Total Short-Term Assets $270.4M $166.0M
Total Long-Term Assets $22.13B $22.06B
Total Assets $22.40B $22.22B
YoY Change 0.81% -7.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $354.5M $286.0M
YoY Change 23.97% -7.44%
Accrued Expenses $4.441M $30.00M
YoY Change -85.2% -65.91%
Deferred Revenue
YoY Change
Short-Term Debt $200.7M $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $559.6M $316.0M
YoY Change 77.1% -20.4%
LONG-TERM LIABILITIES
Long-Term Debt $18.61B $19.22B
YoY Change -3.14% -8.11%
Other Long-Term Liabilities $375.4M $289.0M
YoY Change 29.89% 5.09%
Total Long-Term Liabilities $18.99B $19.50B
YoY Change -2.66% -7.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $559.6M $316.0M
Total Long-Term Liabilities $18.99B $19.50B
Total Liabilities $19.55B $19.82B
YoY Change -1.38% -8.17%
SHAREHOLDERS EQUITY
Retained Earnings $2.844B $2.393B
YoY Change 18.83% 2.13%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.859B $2.399B
YoY Change
Total Liabilities & Shareholders Equity $22.40B $22.22B
YoY Change 0.81% -7.16%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $53.14M $71.50M
YoY Change -25.68% 115.29%
Depreciation, Depletion And Amortization $12.40M $22.30M
YoY Change -44.39% 13.2%
Cash From Operating Activities $203.8M $278.6M
YoY Change -26.84% 73.37%
INVESTING ACTIVITIES
Capital Expenditures -$13.81M -$33.70M
YoY Change -59.02% 40.42%
Acquisitions
YoY Change
Other Investing Activities $800.7M $270.0M
YoY Change 196.55% -25.23%
Cash From Investing Activities $786.9M $236.3M
YoY Change 232.99% -29.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -816.9M -534.7M
YoY Change 52.78% 29.25%
NET CHANGE
Cash From Operating Activities 203.8M 278.6M
Cash From Investing Activities 786.9M 236.3M
Cash From Financing Activities -816.9M -534.7M
Net Change In Cash 173.8M -19.80M
YoY Change -977.64% -123.54%
FREE CASH FLOW
Cash From Operating Activities $203.8M $278.6M
Capital Expenditures -$13.81M -$33.70M
Free Cash Flow $217.6M $312.3M
YoY Change -30.31% 69.09%

Facts In Submission

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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Profit Loss
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us-gaap Basis Of Accounting
BasisOfAccounting
Basis of Financial ReportingThe accompanying unaudited consolidated financial statements of Nelnet, Inc. and subsidiaries (the “Company”) as of September 30, 2021 and for the three and nine months ended September 30, 2021 and 2020 have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2020 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 ("GAAP") 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 three and nine months ended September 30, 2021 are not necessarily indicative of the results for the year ending December 31, 2021. The unaudited consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 (the "2020 Annual Report").
CY2021Q3 us-gaap Financing Receivable Accrued Interest Before Allowance For Credit Loss
FinancingReceivableAccruedInterestBeforeAllowanceForCreditLoss
834831000 USD
CY2020Q4 us-gaap Financing Receivable Accrued Interest Before Allowance For Credit Loss
FinancingReceivableAccruedInterestBeforeAllowanceForCreditLoss
794611000 USD
CY2021Q3 us-gaap Financing Receivable Unamortized Loan Commitment Origination Fee And Premium Discount
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount
-22603000 USD
CY2020Q4 us-gaap Financing Receivable Unamortized Loan Commitment Origination Fee And Premium Discount
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount
-9908000 USD
CY2021Q3 us-gaap Notes Receivable Net
NotesReceivableNet
19304203000 USD
CY2020Q4 us-gaap Notes Receivable Net
NotesReceivableNet
20185656000 USD
CY2021Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
145719000 USD
CY2021Q3 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
5827000 USD
CY2021Q3 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
12417000 USD
CY2021Q3 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
304000 USD
CY2021Q3 us-gaap Financing Receivable Allowance For Credit Loss Purchased With Credit Deterioration Increase
FinancingReceivableAllowanceForCreditLossPurchasedWithCreditDeteriorationIncrease
935000 USD
CY2021Q3 nni Purchase Saleof Financing Receivables
PurchaseSaleofFinancingReceivables
-2324000 USD
CY2021Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
138044000 USD
CY2020Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
209445000 USD
CY2020Q3 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
-5821000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
514000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
5215000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Loss Purchased With Credit Deterioration Increase
FinancingReceivableAllowanceForCreditLossPurchasedWithCreditDeteriorationIncrease
2900000 USD
CY2020Q3 nni Purchase Saleof Financing Receivables
PurchaseSaleofFinancingReceivables
-15924000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
185899000 USD
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
175698000 USD
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
-10847000 USD
us-gaap Financing Receivable Purchased With Credit Deterioration Amount At Par Value
FinancingReceivablePurchasedWithCreditDeteriorationAmountAtParValue
153300000 USD
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
17960000 USD
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
1126000 USD
us-gaap Financing Receivable Allowance For Credit Loss Purchased With Credit Deterioration Increase
FinancingReceivableAllowanceForCreditLossPurchasedWithCreditDeteriorationIncrease
2260000 USD
nni Purchase Saleof Financing Receivables
PurchaseSaleofFinancingReceivables
-12233000 USD
CY2021Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
138044000 USD
CY2019Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
61914000 USD
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
73476000 USD
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
26138000 USD
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
1357000 USD
us-gaap Financing Receivable Allowance For Credit Loss Purchased With Credit Deterioration Increase
FinancingReceivableAllowanceForCreditLossPurchasedWithCreditDeteriorationIncrease
13700000 USD
nni Purchase Saleof Financing Receivables
PurchaseSaleofFinancingReceivables
-29424000 USD
CY2020Q3 us-gaap Financing Receivable Purchased With Credit Deterioration Amount At Par Value
FinancingReceivablePurchasedWithCreditDeteriorationAmountAtParValue
137500000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
185899000 USD
CY2021Q3 us-gaap Financing Receivable Purchased With Credit Deterioration Amount At Par Value
FinancingReceivablePurchasedWithCreditDeteriorationAmountAtParValue
64600000 USD
us-gaap Financing Receivable Purchased With Credit Deterioration Amount At Par Value
FinancingReceivablePurchasedWithCreditDeteriorationAmountAtParValue
721400000 USD
CY2021Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
18819181000 USD
CY2021Q3 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
208433000 USD
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
18610748000 USD
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
19558849000 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
238123000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
19320726000 USD
CY2021Q3 nni Other Borrowings Maximum
OtherBorrowingsMaximum
100000000 USD
CY2021Q3 nni Other Borrowings Maximum
OtherBorrowingsMaximum
100000000 USD
CY2021Q2 nni Secured Debt Repurchase Agreements Contractual Maturity Adjustment Written Notice Period
SecuredDebtRepurchaseAgreementsContractualMaturityAdjustmentWrittenNoticePeriod
P180D
CY2021Q3 nni Repurchase Agreements Private Education Loan Asset Backed Securities
RepurchaseAgreementsPrivateEducationLoanAssetBackedSecurities
223800000 USD
CY2021Q3 nni Additional Repurchase Agreement Private Education Loan Asset Backed Securities
AdditionalRepurchaseAgreementPrivateEducationLoanAssetBackedSecurities
110600000 USD
CY2021Q1 nni Interest Payable Increase Decrease Due To Likelihood Of Repayment
InterestPayableIncreaseDecreaseDueToLikelihoodOfRepayment
-23800000 USD
CY2021Q3 us-gaap Repayments Of Debt
RepaymentsOfDebt
184827000 USD
CY2020Q3 us-gaap Repayments Of Debt
RepaymentsOfDebt
6054000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
205269000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
7572000 USD
CY2021Q3 nni Debt Instrument Repurchased Face Amount During Period
DebtInstrumentRepurchasedFaceAmountDuringPeriod
184781000 USD
CY2020Q3 nni Debt Instrument Repurchased Face Amount During Period
DebtInstrumentRepurchasedFaceAmountDuringPeriod
6163000 USD
nni Debt Instrument Repurchased Face Amount During Period
DebtInstrumentRepurchasedFaceAmountDuringPeriod
204597000 USD
nni Debt Instrument Repurchased Face Amount During Period
DebtInstrumentRepurchasedFaceAmountDuringPeriod
8090000 USD
CY2021Q3 nni Debt Issuance Expense Repurchase Amount
DebtIssuanceExpenseRepurchaseAmount
3222000 USD
CY2020Q3 nni Debt Issuance Expense Repurchase Amount
DebtIssuanceExpenseRepurchaseAmount
4000 USD
nni Debt Issuance Expense Repurchase Amount
DebtIssuanceExpenseRepurchaseAmount
3292000 USD
nni Debt Issuance Expense Repurchase Amount
DebtIssuanceExpenseRepurchaseAmount
10000 USD
CY2021Q3 us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
-3268000 USD
CY2020Q3 us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
105000 USD
us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
-3964000 USD
us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
508000 USD
CY2021Q3 nni Bonds Issued To Cover Risk Retention Policy On Loans With Beneficial Securitization
BondsIssuedToCoverRiskRetentionPolicyOnLoansWithBeneficialSecuritization
371700000 USD
nni Retention Period After Securitization Of Investment Securities
RetentionPeriodAfterSecuritizationOfInvestmentSecurities
P2Y
CY2021Q3 nni Debt Covenant Percent Of Original Debt Issue Required To Be Paid Before Liquidation Minimum
DebtCovenantPercentOfOriginalDebtIssueRequiredToBePaidBeforeLiquidationMinimum
0.33
nni Debt Covenant Percent Of Principle Balance Debt Issue Required To Be Paid Before Liquidation Minimum
DebtCovenantPercentOfPrincipleBalanceDebtIssueRequiredToBePaidBeforeLiquidationMinimum
0.33
CY2021Q3 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
58336000 USD
CY2021Q3 nni Equity Securities Fvni Unrealized Gain Gross
EquitySecuritiesFVNIUnrealizedGainGross
13302000 USD
CY2021Q3 nni Equity Securities Fvni Unrealized Loss Gross
EquitySecuritiesFVNIUnrealizedLossGross
1594000 USD
CY2021Q3 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
70044000 USD
CY2020Q4 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
36227000 USD
CY2020Q4 nni Equity Securities Fvni Unrealized Gain Gross
EquitySecuritiesFVNIUnrealizedGainGross
8768000 USD
CY2020Q4 nni Equity Securities Fvni Unrealized Loss Gross
EquitySecuritiesFVNIUnrealizedLossGross
2954000 USD
CY2020Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
42041000 USD
CY2021Q3 nni Marketable Securities Amortized Cost
MarketableSecuritiesAmortizedCost
818309000 USD
CY2021Q3 nni Marketable Securities Unrealized Gain
MarketableSecuritiesUnrealizedGain
31099000 USD
CY2021Q3 nni Marketable Securities Unrealized Loss
MarketableSecuritiesUnrealizedLoss
1643000 USD
CY2021Q3 us-gaap Marketable Securities
MarketableSecurities
847765000 USD
CY2020Q4 nni Marketable Securities Amortized Cost
MarketableSecuritiesAmortizedCost
376805000 USD
CY2020Q4 nni Marketable Securities Unrealized Gain
MarketableSecuritiesUnrealizedGain
16810000 USD
CY2020Q4 nni Marketable Securities Unrealized Loss
MarketableSecuritiesUnrealizedLoss
2967000 USD
CY2020Q4 us-gaap Marketable Securities
MarketableSecurities
390648000 USD
CY2020Q4 nni Beneficial Interest In Securitization Allowance For Credit Loss
BeneficialInterestInSecuritizationAllowanceForCreditLoss
4449000 USD
CY2021Q3 us-gaap Other Investments
OtherInvestments
527148000 USD
CY2020Q4 us-gaap Other Investments
OtherInvestments
602292000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
3147000 USD
CY2021Q3 us-gaap Investments
Investments
1374913000 USD
CY2020Q4 us-gaap Investments
Investments
992940000 USD
CY2021Q3 nni Repurchase Agreements Private Education Loan Asset Backed Securities Face Amount
RepurchaseAgreementsPrivateEducationLoanAssetBackedSecuritiesFaceAmount
370400000 USD
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P98M
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
55176000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
75070000 USD
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3300000 USD
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
19900000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
22800000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
9939000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
9830000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
7457000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
4644000 USD
CY2021Q3 nni Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
20159000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
55176000 USD
CY2021Q3 us-gaap Goodwill
Goodwill
142092000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
142092000 USD
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
311958000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
283152000 USD
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
194662000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
159625000 USD
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
117296000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
123527000 USD
CY2021Q3 us-gaap Depreciation
Depreciation
12400000 USD
CY2020Q3 us-gaap Depreciation
Depreciation
22300000 USD
us-gaap Depreciation
Depreciation
36200000 USD
us-gaap Depreciation
Depreciation
64600000 USD
CY2021Q3 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
14200000 USD
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
53138000 USD
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
53138000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
71503000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
71503000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38595721 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38595721 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38538476 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38538476 shares
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.38
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.38
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.86
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.86
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
260603000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
260603000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
117452000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
117452000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38646892 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38646892 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39229932 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39229932 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.74
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.74
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.99
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.99
CY2021Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
136654000 USD
CY2021Q3 us-gaap Interest Expense
InterestExpense
50176000 USD
CY2021Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
86478000 USD
CY2021Q3 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
5827000 USD
CY2021Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
80651000 USD
CY2021Q3 nni Intersegment Servicing Revenue
IntersegmentServicingRevenue
0 USD
CY2021Q3 nni Other Income Expense Other
OtherIncomeExpenseOther
11867000 USD
CY2021Q3 nni Gains On Sale Of Student Loans And Debt Repurchases Net
GainsOnSaleOfStudentLoansAndDebtRepurchasesNet
3444000 USD
CY2021Q3 nni Provision Negative Provision For Beneficial Interests And Impairment Expense Net
ProvisionNegativeProvisionForBeneficialInterestsAndImpairmentExpenseNet
14159000 USD
CY2021Q3 nni Derivative Settlements Expense Income
DerivativeSettlementsExpenseIncome
-5909000 USD
CY2021Q3 nni Derivative Market Value And Foreign Currency Gain Loss
DerivativeMarketValueAndForeignCurrencyGainLoss
7260000 USD
CY2021Q3 nni Noninterest Income Expense
NoninterestIncomeExpense
200178000 USD
CY2021Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
31335000 USD
CY2021Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
128592000 USD
CY2021Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
15710000 USD
CY2021Q3 us-gaap Other Expenses
OtherExpenses
38324000 USD
CY2021Q3 nni Intersegment Expenses
IntersegmentExpenses
0 USD
CY2021Q3 us-gaap Operating Expenses
OperatingExpenses
182626000 USD
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
66868000 USD
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15649000 USD
CY2021Q3 us-gaap Profit Loss
ProfitLoss
51219000 USD
CY2021Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1919000 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
53138000 USD
CY2021Q3 us-gaap Assets
Assets
22402739000 USD
CY2020Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
139745000 USD
CY2020Q3 us-gaap Interest Expense
InterestExpense
58423000 USD
CY2020Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
81322000 USD
CY2020Q3 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
-5821000 USD
CY2020Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
87143000 USD
CY2020Q3 nni Intersegment Servicing Revenue
IntersegmentServicingRevenue
0 USD
CY2020Q3 nni Other Income Expense Other
OtherIncomeExpenseOther
1502000 USD
CY2020Q3 nni Gains On Sale Of Student Loans And Debt Repurchases Net
GainsOnSaleOfStudentLoansAndDebtRepurchasesNet
14817000 USD
CY2020Q3 nni Provision Negative Provision For Beneficial Interests And Impairment Expense Net
ProvisionNegativeProvisionForBeneficialInterestsAndImpairmentExpenseNet
0 USD
CY2020Q3 nni Derivative Settlements Expense Income
DerivativeSettlementsExpenseIncome
-2391000 USD
CY2020Q3 nni Derivative Market Value And Foreign Currency Gain Loss
DerivativeMarketValueAndForeignCurrencyGainLoss
3440000 USD
CY2020Q3 nni Noninterest Income Expense
NoninterestIncomeExpense
225494000 USD
CY2020Q3 us-gaap Cost Of Goods And Services Sold
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31157000 USD
CY2020Q3 us-gaap Labor And Related Expense
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126096000 USD
CY2020Q3 us-gaap Depreciation And Amortization
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30308000 USD
CY2020Q3 us-gaap Other Expenses
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34744000 USD
CY2020Q3 nni Intersegment Expenses
IntersegmentExpenses
0 USD
CY2020Q3 us-gaap Operating Expenses
OperatingExpenses
191148000 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
90332000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
19156000 USD
CY2020Q3 us-gaap Profit Loss
ProfitLoss
71176000 USD
CY2020Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-327000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
71503000 USD
CY2020Q3 us-gaap Assets
Assets
22222526000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
399341000 USD
us-gaap Interest Expense
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127939000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
271402000 USD
us-gaap Provision For Loan Losses Expensed
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-10847000 USD
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
282249000 USD
nni Intersegment Servicing Revenue
IntersegmentServicingRevenue
0 USD
nni Other Income Expense Other
OtherIncomeExpenseOther
30183000 USD
nni Gains On Sale Of Student Loans And Debt Repurchases Net
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18715000 USD
nni Provision Negative Provision For Beneficial Interests And Impairment Expense Net
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12223000 USD
nni Derivative Settlements Expense Income
DerivativeSettlementsExpenseIncome
-15587000 USD
nni Derivative Market Value And Foreign Currency Gain Loss
DerivativeMarketValueAndForeignCurrencyGainLoss
44455000 USD
nni Noninterest Income Expense
NoninterestIncomeExpense
658788000 USD
us-gaap Cost Of Goods And Services Sold
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80063000 USD
us-gaap Labor And Related Expense
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363351000 USD
us-gaap Depreciation And Amortization
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56129000 USD
us-gaap Other Expenses
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107611000 USD
nni Intersegment Expenses
IntersegmentExpenses
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us-gaap Operating Expenses
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527091000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
333883000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
76747000 USD
us-gaap Profit Loss
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257136000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-3467000 USD
us-gaap Net Income Loss
NetIncomeLoss
260603000 USD
CY2021Q3 us-gaap Assets
Assets
22402739000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
480818000 USD
us-gaap Interest Expense
InterestExpense
277788000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
203030000 USD
us-gaap Provision For Loan Losses Expensed
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73476000 USD
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
129554000 USD
nni Intersegment Servicing Revenue
IntersegmentServicingRevenue
0 USD
nni Other Income Expense Other
OtherIncomeExpenseOther
69910000 USD
nni Gains On Sale Of Student Loans And Debt Repurchases Net
GainsOnSaleOfStudentLoansAndDebtRepurchasesNet
33023000 USD
nni Provision Negative Provision For Beneficial Interests And Impairment Expense Net
ProvisionNegativeProvisionForBeneficialInterestsAndImpairmentExpenseNet
34419000 USD
nni Derivative Settlements Expense Income
DerivativeSettlementsExpenseIncome
7666000 USD
nni Derivative Market Value And Foreign Currency Gain Loss
DerivativeMarketValueAndForeignCurrencyGainLoss
-21072000 USD
nni Noninterest Income Expense
NoninterestIncomeExpense
667169000 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
80664000 USD
us-gaap Labor And Related Expense
LaborAndRelatedExpense
365220000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
87349000 USD
us-gaap Other Expenses
OtherExpenses
115184000 USD
nni Intersegment Expenses
IntersegmentExpenses
0 USD
us-gaap Operating Expenses
OperatingExpenses
567753000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
148306000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
30286000 USD
us-gaap Profit Loss
ProfitLoss
118020000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
568000 USD
us-gaap Net Income Loss
NetIncomeLoss
117452000 USD
CY2020Q3 us-gaap Assets
Assets
22222526000 USD
CY2021Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
16050000 USD
CY2020Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
1687000 USD
us-gaap Gain Loss On Investments
GainLossOnInvestments
40141000 USD
us-gaap Gain Loss On Investments
GainLossOnInvestments
51772000 USD
CY2021Q3 us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
2400000 USD
CY2020Q3 us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
4463000 USD
us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
6242000 USD
us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
8187000 USD
CY2021Q3 us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
LateFeeIncomeGeneratedByServicingFinancialAssetsAmount
514000 USD
CY2020Q3 us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
LateFeeIncomeGeneratedByServicingFinancialAssetsAmount
871000 USD
us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
LateFeeIncomeGeneratedByServicingFinancialAssetsAmount
1698000 USD
us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
LateFeeIncomeGeneratedByServicingFinancialAssetsAmount
4377000 USD
CY2021Q3 us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
-3268000 USD
CY2020Q3 us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
105000 USD
us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
-3964000 USD
us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
508000 USD
CY2021Q3 nni Other Income Miscellaneous
OtherIncomeMiscellaneous
7289000 USD
CY2020Q3 nni Other Income Miscellaneous
OtherIncomeMiscellaneous
3862000 USD
nni Other Income Miscellaneous
OtherIncomeMiscellaneous
16136000 USD
nni Other Income Miscellaneous
OtherIncomeMiscellaneous
10807000 USD
CY2021Q3 nni Other Income Expense Other
OtherIncomeExpenseOther
11867000 USD
CY2020Q3 nni Other Income Expense Other
OtherIncomeExpenseOther
1502000 USD
nni Other Income Expense Other
OtherIncomeExpenseOther
30183000 USD
nni Other Income Expense Other
OtherIncomeExpenseOther
69910000 USD
CY2021Q3 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
847765000 USD
CY2020Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
390648000 USD
CY2021Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
847765000 USD
CY2020Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
390648000 USD

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