2022 Q2 Form 10-Q Financial Statement

#000125860222000052 Filed on August 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $151.6M $125.2M $398.4M
YoY Change 13.48% -3.03% 22.18%
Cost Of Revenue $30.85M $35.55M $76.89M
YoY Change 42.33% 31.4% 0.38%
Gross Profit $120.7M $89.65M $321.5M
YoY Change 7.89% -12.15% 28.87%
Gross Profit Margin 79.65% 71.61% 80.7%
Selling, General & Admin $141.4M $149.4M $143.8M
YoY Change -39.77% 29.03% 5.26%
% of Gross Profit 117.11% 166.66% 44.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $37.75M $36.34M $18.67M
YoY Change 214.54% -5.41% -62.12%
% of Gross Profit 31.26% 40.53% 5.81%
Operating Expenses $196.6M $205.9M $202.3M
YoY Change 14.43% 19.22% -5.44%
Operating Profit -$75.85M -$116.2M $119.3M
YoY Change 26.67% 64.56% 235.04%
Interest Expense $73.64M $48.08M $50.27M
YoY Change 47.31% 73.11% -3057.24%
% of Operating Profit 42.15%
Other Income/Expense, Net $36.94M $39.50M
YoY Change 13.36% 7.63%
Pretax Income $108.4M $240.6M $168.2M
YoY Change -0.79% 52.49% -44.33%
Income Tax $25.48M $55.70M $39.08M
% Of Pretax Income 23.51% 23.15% 23.23%
Net Earnings $85.13M $186.6M $132.7M
YoY Change 1.5% 51.01% -43.54%
Net Earnings / Revenue 56.16% 149.08% 33.3%
Basic Earnings Per Share $2.26 $4.91
Diluted Earnings Per Share $2.26 $4.91 $3.460M
COMMON SHARES
Basic Shares Outstanding 37.71M shares 38.04M shares
Diluted Shares Outstanding 37.71M shares 38.04M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.460B $1.173B $1.127B
YoY Change 51.62% 101.04% 120.2%
Cash & Equivalents $128.5M $162.8M $125.6M
Short-Term Investments $1.331B $1.010B $1.002B
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $119.8M $144.9M $163.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $248.3M $307.7M $288.9M
YoY Change -16.93% 37.36% 46.64%
LONG-TERM ASSETS
Property, Plant & Equipment $123.7M $120.8M $119.4M
YoY Change -3.73% -7.41% -3.33%
Goodwill $149.1M $142.1M $142.1M
YoY Change 4.94% 0.0% 0.0%
Intangibles $70.09M $49.54M $52.03M
YoY Change 19.88% -25.74% -30.69%
Long-Term Investments $1.988B $1.650B $1.589B
YoY Change 56.82% 69.54% 60.01%
Other Assets $1.046B $1.015B $1.069B
YoY Change 20.96% 26.39% 27.67%
Total Long-Term Assets $20.38B $20.68B $21.39B
YoY Change -10.36% -5.75% -4.72%
TOTAL ASSETS
Total Short-Term Assets $248.3M $307.7M $288.9M
Total Long-Term Assets $20.38B $20.68B $21.39B
Total Assets $20.62B $20.99B $21.68B
YoY Change -10.44% -5.31% -4.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $409.5M $276.2M $366.0M
YoY Change 35.06% 19.56% 21.6%
Accrued Expenses $12.96M $7.216M $4.566M
YoY Change 163.37% 20.27% -84.26%
Deferred Revenue
YoY Change
Short-Term Debt $588.5M $484.0M $344.3M
YoY Change 190.12% 332.18% 526.03%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.011B $767.5M $714.9M
YoY Change 97.86% 119.9% 85.68%
LONG-TERM LIABILITIES
Long-Term Debt $16.12B $16.74B $17.63B
YoY Change -16.85% -10.76% -8.75%
Other Long-Term Liabilities $406.7M $400.5M $379.2M
YoY Change 32.27% 27.15% 21.55%
Total Long-Term Liabilities $16.52B $17.14B $18.01B
YoY Change -16.09% -10.14% -8.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.011B $767.5M $714.9M
Total Long-Term Liabilities $16.52B $17.14B $18.01B
Total Liabilities $17.53B $17.90B $18.73B
YoY Change -13.2% -7.79% -6.46%
SHAREHOLDERS EQUITY
Retained Earnings $3.128B $3.092B $2.941B
YoY Change 11.21% 12.98% 12.16%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.097B $3.088B $2.951B
YoY Change
Total Liabilities & Shareholders Equity $20.62B $20.99B $21.68B
YoY Change -10.44% -5.31% -4.27%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income $85.13M $186.6M $132.7M
YoY Change 1.5% 51.01% -43.54%
Depreciation, Depletion And Amortization $37.75M $36.34M $18.67M
YoY Change 214.54% -5.41% -62.12%
Cash From Operating Activities $298.2M $185.5M $155.2M
YoY Change 117.44% 281.16% 289.88%
INVESTING ACTIVITIES
Capital Expenditures -$18.36M $15.79M -$16.36M
YoY Change 68.67% -11.76% -49.82%
Acquisitions
YoY Change
Other Investing Activities $252.2M $618.9M $658.9M
YoY Change -135.99% 27.26% -319.76%
Cash From Investing Activities $233.9M $603.1M $642.5M
YoY Change -132.86% 28.76% -293.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $32.46M
YoY Change 1894.1%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -535.4M -$805.2M -854.6M
YoY Change -175.97% 52.46% -344.52%
NET CHANGE
Cash From Operating Activities 298.2M $185.5M 155.2M
Cash From Investing Activities 233.9M $603.1M 642.5M
Cash From Financing Activities -535.4M -$805.2M -854.6M
Net Change In Cash -3.276M -$16.52M -56.94M
YoY Change -102.52% 47.47% -200.08%
FREE CASH FLOW
Cash From Operating Activities $298.2M $185.5M $155.2M
Capital Expenditures -$18.36M $15.79M -$16.36M
Free Cash Flow $316.6M $169.7M $171.5M
YoY Change 113.85% 451.6% 136.92%

Facts In Submission

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dei Amendment Flag
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CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.26
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.26
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.16
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.16
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.18
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
7.18
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.36
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0 usd
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.36
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37710214 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37710214 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38741486 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38741486 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37875108 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37875108 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38672902 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38672902 shares
CY2022Q2 us-gaap Profit Loss
ProfitLoss
82904000 usd
CY2021Q2 us-gaap Profit Loss
ProfitLoss
83013000 usd
us-gaap Profit Loss
ProfitLoss
267789000 usd
us-gaap Profit Loss
ProfitLoss
205917000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-8000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1000 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1000 usd
CY2022Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-33822000 usd
CY2021Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
2897000 usd
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-50520000 usd
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
7246000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
849000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
371000 usd
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
3642000 usd
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
879000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-8321000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-26350000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
606000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1920000 usd
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-12999000 usd
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-41163000 usd
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
1528000 usd
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
4839000 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-2225000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-26358000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1919000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-41162000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
4839000 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
56546000 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
84932000 usd
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
226627000 usd
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
210756000 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-854000 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-3987000 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-1548000 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
58771000 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
85786000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
230614000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
212304000 usd
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2749101000 usd
CY2021Q2 us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
5488000 usd
CY2021Q2 us-gaap Profit Loss
ProfitLoss
83013000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1919000 usd
CY2021Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
6727000 usd
CY2021Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
8475000 usd
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1824000 usd
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2874000 usd
CY2021Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
399000 usd
CY2021Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0 usd
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2828618000 usd
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3085063000 usd
CY2022Q2 us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
9275000 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
82904000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-26358000 usd
CY2022Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
10037000 usd
CY2022Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
8973000 usd
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2116000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3187000 usd
CY2022Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
46032000 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3091145000 usd
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2628349000 usd
us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
6888000 usd
us-gaap Profit Loss
ProfitLoss
205917000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
4839000 usd
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
6829000 usd
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
16912000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3915000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4859000 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
2408000 usd
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0 usd
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2828618000 usd
us-gaap Profit Loss
ProfitLoss
267789000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-41162000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2952838000 usd
us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
11279000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-3987000 usd
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
15161000 usd
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
18035000 usd
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
18035000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
6501000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6027000 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
78931000 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
78931000 usd
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3091145000 usd
us-gaap Net Income Loss
NetIncomeLoss
271776000 usd
us-gaap Net Income Loss
NetIncomeLoss
207465000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1548000 usd
us-gaap Profit Loss
ProfitLoss
267789000 usd
us-gaap Profit Loss
ProfitLoss
205917000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
74080000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
76754000 usd
nni Student Loan Discount Accretion
StudentLoanDiscountAccretion
-19554000 usd
nni Student Loan Discount Accretion
StudentLoanDiscountAccretion
-14606000 usd
nni Financing Receivable Credit Loss Including Off Balance Liabilities Expense Reversal
FinancingReceivableCreditLossIncludingOffBalanceLiabilitiesExpenseReversal
8974000 usd
nni Financing Receivable Credit Loss Including Off Balance Liabilities Expense Reversal
FinancingReceivableCreditLossIncludingOffBalanceLiabilitiesExpenseReversal
-16674000 usd
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
186135000 usd
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
37194000 usd
nni Proceeds From Payments For Termination Of Derivative Instrument
ProceedsFromPaymentsForTerminationOfDerivativeInstrument
68021000 usd
nni Proceeds From Payments For Termination Of Derivative Instrument
ProceedsFromPaymentsForTerminationOfDerivativeInstrument
0 usd
nni Proceeds From Payments To Clearinghouse
ProceedsFromPaymentsToClearinghouse
133622000 usd
nni Proceeds From Payments To Clearinghouse
ProceedsFromPaymentsToClearinghouse
38440000 usd
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
2989000 usd
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
15271000 usd
nni Gain Loss On Investments And Notes Receivable
GainLossOnInvestmentsAndNotesReceivable
-3207000 usd
nni Gain Loss On Investments And Notes Receivable
GainLossOnInvestmentsAndNotesReceivable
-812000 usd
nni Gain Loss On Repurchases Of Debt Net
GainLossOnRepurchasesOfDebtNet
1071000 usd
nni Gain Loss On Repurchases Of Debt Net
GainLossOnRepurchasesOfDebtNet
-695000 usd
us-gaap Increase Decrease In Equity Securities Fv Ni
IncreaseDecreaseInEquitySecuritiesFvNi
-42398000 usd
us-gaap Increase Decrease In Equity Securities Fv Ni
IncreaseDecreaseInEquitySecuritiesFvNi
19764000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
49890000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
18173000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
6171000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
4980000 usd
nni Provision Negative Provision For Beneficial Interests And Impairment Expense Net
ProvisionNegativeProvisionForBeneficialInterestsAndImpairmentExpenseNet
6284000 usd
nni Provision Negative Provision For Beneficial Interests And Impairment Expense Net
ProvisionNegativeProvisionForBeneficialInterestsAndImpairmentExpenseNet
-1936000 usd
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-184000 usd
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
40488000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-44786000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
9446000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
8015000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-32241000 usd
nni Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
-2735000 usd
nni Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
-3962000 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
8397000 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-23779000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-12200000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-13663000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-2860000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-3288000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
483714000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
185865000 usd
us-gaap Payments To Acquire Finance Receivables
PaymentsToAcquireFinanceReceivables
396486000 usd
us-gaap Payments To Acquire Finance Receivables
PaymentsToAcquireFinanceReceivables
1040573000 usd
us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
7675000 usd
us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
20847000 usd
us-gaap Proceeds From Collection Of Finance Receivables
ProceedsFromCollectionOfFinanceReceivables
1792930000 usd
us-gaap Proceeds From Collection Of Finance Receivables
ProceedsFromCollectionOfFinanceReceivables
1047645000 usd
us-gaap Proceeds From Sale Of Finance Receivables
ProceedsFromSaleOfFinanceReceivables
15278000 usd
us-gaap Proceeds From Sale Of Finance Receivables
ProceedsFromSaleOfFinanceReceivables
65224000 usd
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
735140000 usd
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
363485000 usd
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
319752000 usd
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
38511000 usd
us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
ProceedsFromCollectionOfRetainedInterestInSecuritizedReceivables
13212000 usd
us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
ProceedsFromCollectionOfRetainedInterestInSecuritizedReceivables
19077000 usd
nni Payments To Acquire Other Investments And Issuance Of Notes Receivable
PaymentsToAcquireOtherInvestmentsAndIssuanceOfNotesReceivable
147400000 usd
nni Payments To Acquire Other Investments And Issuance Of Notes Receivable
PaymentsToAcquireOtherInvestmentsAndIssuanceOfNotesReceivable
128011000 usd
us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
23955000 usd
us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
167821000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
34152000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
28784000 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
7320000 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
836954000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-243422000 usd
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
1695697000 usd
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
1073523000 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
159931000 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
1114821000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
851000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3035000 usd
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
244159000 usd
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
148208000 usd
us-gaap Increase Decrease In Payables To Customers
IncreaseDecreaseInPayablesToCustomers
43544000 usd
us-gaap Increase Decrease In Payables To Customers
IncreaseDecreaseInPayablesToCustomers
1746000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
18035000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
16912000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
78931000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2408000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
801000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
689000 usd
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
5142000 usd
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
7480000 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
699000 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
423000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1340636000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
176643000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-179000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-108000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-20147000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
118978000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1194189000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
958395000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1174042000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1077373000 usd
us-gaap Interest Paid Net
InterestPaidNet
89281000 usd
us-gaap Interest Paid Net
InterestPaidNet
78904000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
21137000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
14229000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
3538000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
4096000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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Basis of Financial Reporting<div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited consolidated financial statements of Nelnet, Inc. and subsidiaries (the “Company”) as of June 30, 2022 and for the three and six months ended June 30, 2022 and 2021 have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2021 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 six months ended June 30, 2022 are not necessarily indicative of the results for the year ending December 31, 2022. 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, 2021 (the "2021 Annual Report").</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassification of Prior Period Cash Flows Presentation</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The line item in the Company's consolidated statements of cash flows for changes during a period in amounts "due to customers" was previously presented in cash flows from operating activities, and has been corrected for the periods presented in this report (including the prior year period) to be presented in cash flows from financing activities. This correction has no impact on the Company's previously reported consolidated net income, total assets (including cash and cash equivalents), liabilities, and equity, and while the correction has a corresponding impact on the amounts of cash flows from operating and financing activities, it has no impact on the net increase or decrease in cash for previously reported periods. The Company has concluded that the correction was not material from a combined quantitative and qualitative perspective to its previously issued interim financial statements for 2022, or its previously issued financial statements for 2021, 2020, and 2019.</span></div>
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<div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassification of Prior Period Cash Flows Presentation</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The line item in the Company's consolidated statements of cash flows for changes during a period in amounts "due to customers" was previously presented in cash flows from operating activities, and has been corrected for the periods presented in this report (including the prior year period) to be presented in cash flows from financing activities. This correction has no impact on the Company's previously reported consolidated net income, total assets (including cash and cash equivalents), liabilities, and equity, and while the correction has a corresponding impact on the amounts of cash flows from operating and financing activities, it has no impact on the net increase or decrease in cash for previously reported periods. The Company has concluded that the correction was not material from a combined quantitative and qualitative perspective to its previously issued interim financial statements for 2022, or its previously issued financial statements for 2021, 2020, and 2019.</span></div>
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CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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109250000 usd
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CY2021Q2 us-gaap Profit Loss
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CY2021Q2 us-gaap Assets
Assets
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nni Financing Receivable Credit Loss Including Off Balance Liabilities Expense Reversal
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8974000 usd
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
146088000 usd
nni Intersegment Servicing Revenue
IntersegmentServicingRevenue
0 usd
nni Other Income Expense Other
OtherIncomeExpenseOther
22524000 usd
nni Gains On Sale Of Student Loans And Debt Repurchases Net
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2989000 usd
nni Provision Negative Provision For Beneficial Interests And Impairment Expense Net
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nni Derivative Settlements Expense Income
DerivativeSettlementsExpenseIncome
1814000 usd
nni Derivative Market Value And Foreign Currency Gain Loss
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nni Noninterest Income Expense
NoninterestIncomeExpense
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us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
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us-gaap Labor And Related Expense
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us-gaap Other Expenses
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nni Intersegment Expenses
IntersegmentExpenses
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us-gaap Operating Expenses
OperatingExpenses
402458000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
348969000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Profit Loss
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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us-gaap Net Income Loss
NetIncomeLoss
271776000 usd
CY2022Q2 us-gaap Assets
Assets
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us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
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InterestExpense
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us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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FinancingReceivableCreditLossIncludingOffBalanceLiabilitiesExpenseReversal
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us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
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nni Intersegment Servicing Revenue
IntersegmentServicingRevenue
0 usd
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OtherIncomeExpenseOther
18317000 usd
nni Gains On Sale Of Student Loans And Debt Repurchases Net
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nni Provision Negative Provision For Beneficial Interests And Impairment Expense Net
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nni Derivative Settlements Expense Income
DerivativeSettlementsExpenseIncome
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nni Derivative Market Value And Foreign Currency Gain Loss
DerivativeMarketValueAndForeignCurrencyGainLoss
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NoninterestIncomeExpense
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CostOfGoodsAndServicesSold
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OtherExpenses
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nni Intersegment Expenses
IntersegmentExpenses
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OperatingExpenses
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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IncomeTaxExpenseBenefit
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us-gaap Net Income Loss
NetIncomeLoss
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CY2021Q2 us-gaap Assets
Assets
23028863000 usd
CY2022Q2 us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
LateFeeIncomeGeneratedByServicingFinancialAssetsAmount
2436000 usd
CY2021Q2 us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
LateFeeIncomeGeneratedByServicingFinancialAssetsAmount
744000 usd
us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
LateFeeIncomeGeneratedByServicingFinancialAssetsAmount
4867000 usd
CY2022Q2 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
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CY2021Q2 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
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RealizedInvestmentGainsLosses
29983000 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
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us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
LateFeeIncomeGeneratedByServicingFinancialAssetsAmount
1184000 usd
CY2022Q2 us-gaap Equity Securities Fv Ni Realized Gain
EquitySecuritiesFvNiRealizedGain
2140000 usd
CY2021Q2 us-gaap Equity Securities Fv Ni Realized Gain
EquitySecuritiesFvNiRealizedGain
2020000 usd
us-gaap Equity Securities Fv Ni Realized Gain
EquitySecuritiesFvNiRealizedGain
4257000 usd
us-gaap Equity Securities Fv Ni Realized Gain
EquitySecuritiesFvNiRealizedGain
4342000 usd
CY2022Q2 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
2012000 usd
CY2021Q2 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
0 usd
us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
4134000 usd
us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
0 usd
CY2022Q2 nni Other Income Miscellaneous
OtherIncomeMiscellaneous
5245000 usd
CY2021Q2 nni Other Income Miscellaneous
OtherIncomeMiscellaneous
4629000 usd
nni Other Income Miscellaneous
OtherIncomeMiscellaneous
9474000 usd
nni Other Income Miscellaneous
OtherIncomeMiscellaneous
9967000 usd
CY2022Q2 nni Other Income Expense Other
OtherIncomeExpenseOther
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CY2021Q2 nni Other Income Expense Other
OtherIncomeExpenseOther
22921000 usd
nni Other Income Expense Other
OtherIncomeExpenseOther
22524000 usd
nni Other Income Expense Other
OtherIncomeExpenseOther
18317000 usd
CY2022Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
1331482000 usd
CY2021Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
1001655000 usd
CY2022Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
1331482000 usd
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
1001655000 usd

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