v3.26.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest income:        
Loan interest $ 164,598 $ 172,104 $ 335,622 $ 338,543
Investment interest 40,315 40,185 80,517 81,574
Total interest income 204,913 212,289 416,139 420,117
Interest expense on bonds and notes payable and bank deposits 108,902 132,854 218,485 257,968
Net interest income 96,011 79,435 197,654 162,149
Less provision for loan losses 41,077 17,930 94,321 33,267
Less provision for beneficial interests 2,441 4,977 6,571 6,487
Net interest income after provision 52,493 56,528 96,762 122,395
Other income (expense):        
Other, net 18,399 22,976 28,836 47,579
Gain on partial redemption of ALLO investment 0 175,044 0 175,044
Derivative market value adjustments and derivative settlements, net 3,852 (3,122) 6,019 (8,701)
Total other income (expense), net 314,004 461,177 631,421 776,955
Cost of services and expenses:        
Cost of services 41,270 55,739 93,310 113,247
Operating Expenses        
Salaries and benefits 152,664 134,699 292,035 272,922
Depreciation and amortization 10,142 7,624 19,312 16,879
Reinsurance losses and underwriting expenses 32,809 25,662 56,414 47,874
Other expenses 64,199 56,617 126,038 104,924
Total operating expenses 259,814 224,602 493,799 442,599
Income (loss) before income taxes 65,413 237,364 141,074 343,504
Income tax expense (19,942) (59,510) (40,003) (84,521)
Net income 45,471 177,854 101,071 258,983
Net loss attributable to noncontrolling interests 21,191 3,605 36,717 5,035
Net income (loss) attributable to Nelnet, Inc. $ 66,662 $ 181,459 $ 137,788 $ 264,018
Earnings per common share:        
Net income attributable to Nelnet, Inc. shareholders - basic (in dollars per share) $ 1.85 $ 4.97 $ 3.82 $ 7.24
Net income attributable to Nelnet, Inc. shareholders - diluted (in dollars per share) $ 1.85 $ 4.97 $ 3.82 $ 7.24
Weighted-average common shares outstanding - basic (in shares) 36,037,509 36,485,605 36,057,102 36,482,035
Weighted-average common shares outstanding - diluted (in shares) 36,037,509 36,485,605 36,057,102 36,482,035
Loan servicing and systems revenue        
Other income (expense):        
Revenue $ 132,244 $ 120,724 $ 260,086 $ 241,465
Cost of services and expenses:        
Cost of services 2,087 1,845 4,174 3,478
Education technology services and payments revenue        
Other income (expense):        
Revenue 118,884 118,184 273,319 265,515
Cost of services and expenses:        
Cost of services 39,183 39,844 89,136 87,891
Reinsurance premiums earned        
Other income (expense):        
Revenue 40,625 26,112 63,161 50,799
Solar construction revenue        
Other income (expense):        
Revenue 0 1,259 0 5,254
Cost of services and expenses:        
Cost of services $ 0 $ 14,050 $ 0 $ 21,878