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ExhibitNo.DescriptionPress Release dated November 7, 2019 - "Nelnet Reports Third Quarter 2019 Results"Supplemental Financial Information for the Quarter Ended September 30, 2019Cover Page Interactive Data File (formatted as Inline XBRL and included as Exhibit 101).Three months endedNine months endedSeptember 30, 2019June 30,
2019September 30, 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 settlements, netDerivative market value adjustments, 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 benefitsDepreciation and amortizationLoan servicing fees to third partiesOther expensesTotal operating expensesIncome before income taxesIncome tax expenseNet incomeNet loss (income) 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 ofDecember 31, 2018Assets: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 equityThree months ended September 30,20192018GAAP net income attributable to Nelnet, Inc.Realized and unrealized derivative market value adjustments (a)Tax effect (b)Net income attributable to Nelnet, Inc., excluding derivative market value adjustmentsEarnings per share:Variable loan yield, gross4.78%4.57%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)Fixed rate floor income, net of settlements on derivativesCore loan spread1.17%1.30%Average balance of loansAverage balance of debt outstandingDerivative settlements (1:3 basis swaps)Derivative settlements (fixed rate floor income)Loan spread1.04%0.90% Net interest income, net of settlements on derivativesVariable interest income, grossVariable interest income, netDerivative settlements (basis swaps), net (a)Variable loan interest margin, net of settlements on derivatives (a)Derivative settlements (interest rate swaps), net (a)Fixed rate floor income, net of settlements on derivatives (a)Core loan interest income (a)Intercompany interestNet interest income (net of settlements on derivatives) (a)Net lossNet interest expenseIncome tax benefitEarnings before interest, income taxes,depreciation, and amortization (EBITDA) Forward-looking and cautionary statementsJune 30, 2019 GAAP Net Income and Non-GAAP Net Income, Excluding AdjustmentsRealized and unrealized derivative market value adjustmentsTax effect (a)Net income attributable to Nelnet, Inc., excluding derivative market value adjustments (b) Subsequent EventThree months ended September 30, 2019Loan Servicing and SystemsEducation Technology, Services, and Payment ProcessingCommunicationsAsset
Generation and
ManagementCorporate and Other ActivitiesEliminationsTotalInterest expenseNet interest income (expense)Net interest income (loss) after provision for loan lossesIntersegment servicing revenueIntersegment expenses, netIncome (loss) before income taxesIncome tax (expense) benefitNet income (loss)Net income (loss) attributable to Nelnet, Inc.Three months ended June 30, 2019Three months ended September 30, 2018Corporate and Other
ActivitiesNine months ended September 30, 2019Education technology, services, and payment processing
revenueCost to provide education technology, services, and payment
processing servicesNine months ended September 30, 2018Asset Generation and ManagementVariable loan interest marginSettlements on associated derivatives (a)Variable loan interest margin, net of settlements on derivativesFixed rate floor incomeSettlements on associated derivatives (b)Corporate 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,
2019September 30,
2019Servicing volume
(dollars in millions):Nelnet:GovernmentFFELPPrivate and consumerGreat Lakes:FFELP (a)Private and consumer (a)Number of servicing borrowers:Number of remote hosted borrowers:Tuition payment plan servicesPayment processingEducation technology and servicesOtherResidential revenue75.3%75.5%75.6%74.6%Business revenue100.0%Internet60.1%59.0%54.6%59.1%52.8%TelevisionTelephoneEBITDA (a)Capital expendituresAs of September 30, 2019As of
June 30,
2019As 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/passed32.9%32.2%31.7%30.5%29.4%28.1%27.9%28.6%Total households in current markets and new markets announced (c)Net interest (income) expenseEarnings (loss) before interest, income taxes, depreciation, and amortization (EBITDA)Borrower late fee incomeManagement fee revenueGain on investments and notes receivable, net of lossesInvestment advisory services1:3 basis swapsInterest rate swaps - floor income hedgesInterest rate swaps - hybrid debt hedgesTotal derivative settlements - incomeFederally 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 partiesLoans soldEnding balance5.00%4.94%4.40%Variable loan spread (d)Core loan spread (d)1.21%1.23%1.29%0.00%(0.06)%(0.13)%(0.34)%0.96%0.99%0.98%Derivative settlements (a)Fixed rate floor income, netFixed rate floor income contribution to spread, net0.36%0.43%0.57%0.55%Fixed interest rate rangeBorrower/lender weighted average yieldEstimated variable conversion rate (a)Loan balance4.5 - 4.99%4.87%2.23%5.0 - 5.49%5.22%2.58%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)1.12%202020212022 (b)20231.37%PK ! 7
docProps/app.xml
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