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ExhibitNo.DescriptionPress Release dated May 8, 2019 - "Nelnet Reports First Quarter 2019 Results"Supplemental Financial Information for the Quarter Ended March 31, 2019Three months ended March 31,20192018(dollars in thousands, except share data)GAAP net income attributable to Nelnet, Inc.Realized and unrealized derivative market value adjustmentsNet tax effectNet income attributable to Nelnet, Inc., excluding derivative market value adjustmentsEarnings per share:(dollars in thousands)Net lossNet interest (income) expenseIncome tax benefitDepreciation and amortizationEarnings (loss) before interest, income taxes,depreciation, and amortization (EBITDA)Three months endedMarch 31, 2019December 31, 2018March 31, 2018Interest income:Loan interestInvestment interestTotal interest incomeInterest expense:Interest on bonds and notes payableNet interest incomeLess provision for loan lossesNet interest income after provision for loan lossesOther income:Loan servicing and systems revenueEducation technology, services, and payment processing revenueCommunications revenueOther incomeDerivative market value adjustments and
derivative settlements, netTotal other incomeCost of services:Cost to provide education technology, services, and payment processing servicesCost to provide communications servicesTotal cost of servicesOperating expenses:Salaries and benefitsLoan servicing fees to third partiesOther expensesTotal operating expensesIncome before income taxesIncome tax (expense) benefitNet incomeNet (income) loss attributable to noncontrolling interestsNet income attributable to Nelnet, Inc.Earnings per common share:Net income attributable to Nelnet, Inc. shareholders - basic and dilutedWeighted average common shares outstanding - basic and dilutedAs ofAssets:Loans receivable, netCash, cash equivalents, investments, and notes receivableRestricted cashGoodwill and intangible assets, netOther assetsTotal assetsLiabilities:Bonds and notes payableOther liabilitiesTotal liabilitiesEquity:Total Nelnet, Inc. shareholders' equityNoncontrolling interestsTotal equityTotal liabilities and equity Forward-looking and cautionary statementsDerivative settlements, netDerivative market value adjustments GAAP Net Income and Non-GAAP Net Income, Excluding AdjustmentsNet tax effect (a)Net income attributable to Nelnet, Inc., excluding derivative market value adjustments (b) Liquidity and Capital ResourcesThree months ended March 31, 2019Loan Servicing and SystemsEducation Technology, Services, and Payment ProcessingCommunicationsAsset
Generation and
ManagementCorporate and Other ActivitiesEliminationsTotalInterest expense—Net interest income (expense)Net interest income (loss) after provision for loan lossesIntersegment servicing revenueDerivative market value adjustments, netIntersegment expenses, netIncome (loss) before income taxesNet income (loss)Net income attributable to noncontrolling interestsNet income (loss) attributable to Nelnet, Inc.Three months ended December 31, 2018Three months ended March 31, 2018Corporate and Other
ActivitiesNet loss (income) attributable to noncontrolling interestsVariable loan interest marginSettlements on associated derivatives (a)Variable loan interest margin, net of settlements on derivativesFixed rate floor incomeSettlements on associated derivatives (b)Fixed rate floor income, net of settlements on derivativesCorporate debt interest expenseNon-portfolio related derivative settlements (c)Net interest income (net of settlements on derivatives)Government servicing - NelnetGovernment servicing - Great LakesPrivate education and consumer loan servicingFFELP servicingSoftware servicesOutsourced services and otherDecember 31,
2017March 31,
2018June 30,
2018September 30,
2018December 31,
2018March 31,
2019Servicing volume (dollars in millions):NelnetGovernmentFFELPPrivate and consumerGreat LakesFFELP (a)Private and consumer (a)Number of servicing borrowers:Number of remote hosted borrowers:Tuition payment plan servicesPayment processingEducation technology and servicesOtherResidential revenue76.1%75.5%73.4%Business revenue100.0%Internet58.1%56.5%51.1%TelevisionTelephoneEBITDA (a)Capital expendituresAs of
March 31,
2019As of December 31, 2018As of September 30, 2018As of
June 30,
2018As of
March 31,
2018As of December 31, 2017Residential customer information:Households servedHouseholds passed (b)Households served/passed31.7%30.5%29.4%28.1%27.9%28.6%Total households in current markets (c)Earnings (loss) before interest, income taxes, depreciation, and amortization (EBITDA)Borrower late fee incomeManagement fee revenueInvestment advisory fees(Loss) gain on investments and notes receivable, net1:3 basis swapsInterest rate swaps - floor income hedgesInterest rate swaps - hybrid debt hedgesTotal derivative settlements - income (expense)Federally insured student loans:Stafford and otherConsolidationPrivate education loansConsumer loansLoan discount, net of unamortized loan premiums and deferred origination costsNon-accretable discountAllowance for loan losses:Federally insured loansBeginning balanceLoan acquisitions:Federally insured student loansTotal loan acquisitionsRepayments, claims, capitalized interest, and otherConsolidation loans lost to external partiesEnding balanceVariable loan yield, gross5.04%4.89%4.15%Consolidation rebate feesDiscount accretion, net of premium and deferred origination costs amortizationVariable loan yield, netLoan cost of funds - interest expenseLoan cost of funds - derivative settlements (a) (b)Variable loan spreadFixed rate floor income, grossFixed rate floor income - derivative settlements (a) (c)Core loan spread (d)1.30%1.39%1.29%Average balance of loansAverage balance of debt outstandingDerivative settlements (a)Fixed rate floor income, netFixed rate floor income contribution to spread, net0.50%0.53%0.48%Fixed interest rate rangeBorrower/lender weighted average yieldEstimated variable conversion rate (a)Loan balance5.0 - 5.49%5.35%2.71%5.5 - 5.99%5.67%3.03%6.0 - 6.49%6.19%3.55%6.5 - 6.99%6.70%4.06%7.0 - 7.49%7.17%4.53%7.5 - 7.99%7.71%5.07%8.0 - 8.99%8.18%5.54%> 9.0%9.05%6.41%MaturityNotional amountWeighted average fixed rate paid by the Company (a)0.98%20202021202320241.25%PK ! /V# docProps/app.xml
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