10-Q 1 nni-20220930.htm 10-Q nni-20220930
--12-31false00012586022022Q3P5Dhttp://www.nelnet.com/20220930#DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNethttp://www.nelnet.com/20220930#DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNethttp://www.nelnet.com/20220930#DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNethttp://www.nelnet.com/20220930#DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNethttp://www.nelnet.com/20220930#DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNethttp://www.nelnet.com/20220930#DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNethttp://www.nelnet.com/20220930#DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNethttp://www.nelnet.com/20220930#DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNethttp://www.nelnet.com/20220930#DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNethttp://www.nelnet.com/20220930#DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNethttp://www.nelnet.com/20220930#DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNethttp://www.nelnet.com/20220930#DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNet00012586022022-01-012022-09-300001258602us-gaap:CommonClassAMember2022-10-31xbrli:shares0001258602us-gaap:CommonClassBMember2022-10-3100012586022022-09-30iso4217:USD00012586022021-12-31iso4217:USDxbrli:shares0001258602us-gaap:CommonClassAMember2021-12-310001258602us-gaap:CommonClassAMember2022-09-300001258602us-gaap:CommonClassBMember2021-12-310001258602us-gaap:CommonClassBMember2022-09-300001258602us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-09-300001258602us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-3100012586022022-07-012022-09-3000012586022021-07-012021-09-3000012586022021-01-012021-09-300001258602nni:LoanServicingAndSystemsMember2022-07-012022-09-300001258602nni:LoanServicingAndSystemsMember2021-07-012021-09-300001258602nni:LoanServicingAndSystemsMember2022-01-012022-09-300001258602nni:LoanServicingAndSystemsMember2021-01-012021-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMember2022-07-012022-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMember2021-07-012021-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMember2022-01-012022-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMember2021-01-012021-09-300001258602nni:SolarConstructionRevenueMember2022-07-012022-09-300001258602nni:SolarConstructionRevenueMember2021-07-012021-09-300001258602nni:SolarConstructionRevenueMember2022-01-012022-09-300001258602nni:SolarConstructionRevenueMember2021-01-012021-09-300001258602us-gaap:PreferredStockMember2021-06-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2021-06-300001258602us-gaap:CommonClassBMemberus-gaap:CommonStockMember2021-06-300001258602us-gaap:AdditionalPaidInCapitalMember2021-06-300001258602us-gaap:RetainedEarningsMember2021-06-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300001258602us-gaap:NoncontrollingInterestMember2021-06-3000012586022021-06-300001258602us-gaap:NoncontrollingInterestMember2021-07-012021-09-300001258602us-gaap:RetainedEarningsMember2021-07-012021-09-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300001258602us-gaap:CommonClassAMember2021-07-012021-09-300001258602us-gaap:CommonClassBMember2021-07-012021-09-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2021-07-012021-09-300001258602us-gaap:AdditionalPaidInCapitalMember2021-07-012021-09-300001258602us-gaap:CommonClassBMemberus-gaap:CommonStockMember2021-07-012021-09-300001258602us-gaap:PreferredStockMember2021-09-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2021-09-300001258602us-gaap:CommonClassBMemberus-gaap:CommonStockMember2021-09-300001258602us-gaap:AdditionalPaidInCapitalMember2021-09-300001258602us-gaap:RetainedEarningsMember2021-09-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-300001258602us-gaap:NoncontrollingInterestMember2021-09-3000012586022021-09-300001258602us-gaap:PreferredStockMember2022-06-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2022-06-300001258602us-gaap:CommonClassBMemberus-gaap:CommonStockMember2022-06-300001258602us-gaap:AdditionalPaidInCapitalMember2022-06-300001258602us-gaap:RetainedEarningsMember2022-06-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-300001258602us-gaap:NoncontrollingInterestMember2022-06-3000012586022022-06-300001258602us-gaap:NoncontrollingInterestMember2022-07-012022-09-300001258602us-gaap:RetainedEarningsMember2022-07-012022-09-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300001258602us-gaap:CommonClassBMember2022-07-012022-09-300001258602us-gaap:CommonClassAMember2022-07-012022-09-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2022-07-012022-09-300001258602us-gaap:AdditionalPaidInCapitalMember2022-07-012022-09-300001258602us-gaap:CommonClassBMemberus-gaap:CommonStockMember2022-07-012022-09-300001258602us-gaap:PreferredStockMember2022-09-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2022-09-300001258602us-gaap:CommonClassBMemberus-gaap:CommonStockMember2022-09-300001258602us-gaap:AdditionalPaidInCapitalMember2022-09-300001258602us-gaap:RetainedEarningsMember2022-09-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-300001258602us-gaap:NoncontrollingInterestMember2022-09-300001258602us-gaap:PreferredStockMember2020-12-310001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2020-12-310001258602us-gaap:CommonClassBMemberus-gaap:CommonStockMember2020-12-310001258602us-gaap:AdditionalPaidInCapitalMember2020-12-310001258602us-gaap:RetainedEarningsMember2020-12-310001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001258602us-gaap:NoncontrollingInterestMember2020-12-3100012586022020-12-310001258602us-gaap:NoncontrollingInterestMember2021-01-012021-09-300001258602us-gaap:RetainedEarningsMember2021-01-012021-09-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300001258602us-gaap:CommonClassAMember2021-01-012021-09-300001258602us-gaap:CommonClassBMember2021-01-012021-09-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2021-01-012021-09-300001258602us-gaap:AdditionalPaidInCapitalMember2021-01-012021-09-300001258602us-gaap:CommonClassBMemberus-gaap:CommonStockMember2021-01-012021-09-300001258602us-gaap:PreferredStockMember2021-12-310001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2021-12-310001258602us-gaap:CommonClassBMemberus-gaap:CommonStockMember2021-12-310001258602us-gaap:AdditionalPaidInCapitalMember2021-12-310001258602us-gaap:RetainedEarningsMember2021-12-310001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001258602us-gaap:NoncontrollingInterestMember2021-12-310001258602us-gaap:NoncontrollingInterestMember2022-01-012022-09-300001258602us-gaap:RetainedEarningsMember2022-01-012022-09-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300001258602us-gaap:CommonClassBMember2022-01-012022-09-300001258602us-gaap:CommonClassAMember2022-01-012022-09-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2022-01-012022-09-300001258602us-gaap:AdditionalPaidInCapitalMember2022-01-012022-09-300001258602us-gaap:CommonClassBMemberus-gaap:CommonStockMember2022-01-012022-09-300001258602nni:StudentLoanStaffordAndOtherMembernni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2022-09-300001258602nni:StudentLoanStaffordAndOtherMembernni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2021-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMembernni:StudentLoanConsolidationLoanMember2022-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMembernni:StudentLoanConsolidationLoanMember2021-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2022-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2021-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMember2022-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMember2021-12-310001258602nni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2022-09-300001258602nni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2021-12-310001258602nni:ConsumerPortfolioSegmentNonNelnetBankMember2022-09-300001258602nni:ConsumerPortfolioSegmentNonNelnetBankMember2021-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMember2022-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMember2021-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2022-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2021-12-310001258602nni:ConsumerPortfolioSegmentNelnetBankMember2022-09-300001258602nni:ConsumerPortfolioSegmentNelnetBankMember2021-12-31xbrli:pure0001258602nni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2022-01-262022-01-260001258602nni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2022-07-072022-07-070001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2022-06-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2022-07-012022-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMember2022-06-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMember2022-07-012022-09-300001258602nni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2022-06-300001258602nni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2022-07-012022-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMember2022-06-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMember2022-07-012022-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2022-06-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2022-07-012022-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2021-06-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2021-07-012021-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2021-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMember2021-06-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMember2021-07-012021-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMember2021-09-300001258602nni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2021-06-300001258602nni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2021-07-012021-09-300001258602nni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2021-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMember2021-06-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMember2021-07-012021-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMember2021-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2021-06-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2021-07-012021-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2021-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2022-01-012022-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMember2022-01-012022-09-300001258602nni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2022-01-012022-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMember2022-01-012022-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2022-01-012022-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2020-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2021-01-012021-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMember2020-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMember2021-01-012021-09-300001258602nni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2020-12-310001258602nni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2021-01-012021-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMember2020-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMember2021-01-012021-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2020-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2021-01-012021-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2022-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2022-01-012022-09-300001258602us-gaap:FinancialAssetNotPastDueMembernni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2022-09-300001258602us-gaap:FinancialAssetNotPastDueMembernni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2021-12-310001258602us-gaap:FinancialAssetNotPastDueMembernni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2021-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMembernni:FinancingReceivables31To60DaysPastDueMember2022-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMembernni:FinancingReceivables31To60DaysPastDueMember2021-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMembernni:FinancingReceivables31To60DaysPastDueMember2021-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMembernni:FinancingReceivables61to90DaysPastDueMember2022-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMembernni:FinancingReceivables61to90DaysPastDueMember2021-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMembernni:FinancingReceivables61to90DaysPastDueMember2021-09-300001258602nni:Financingreceivables91120dayspastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2022-09-300001258602nni:Financingreceivables91120dayspastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2021-12-310001258602nni:Financingreceivables91120dayspastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2021-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMembernni:Financingreceivables121270dayspastdueMember2022-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMembernni:Financingreceivables121270dayspastdueMember2021-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMembernni:Financingreceivables121270dayspastdueMember2021-09-300001258602nni:Financingreceivables271daysorgreaterpastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2022-09-300001258602nni:Financingreceivables271daysorgreaterpastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2021-12-310001258602nni:Financingreceivables271daysorgreaterpastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredNonNelnetBankMember2021-09-300001258602us-gaap:FinancialAssetNotPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMember2022-09-300001258602us-gaap:FinancialAssetNotPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMember2021-12-310001258602us-gaap:FinancialAssetNotPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMember2021-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMembernni:FinancingReceivables31To60DaysPastDueMember2022-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMembernni:FinancingReceivables31To60DaysPastDueMember2021-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMembernni:FinancingReceivables31To60DaysPastDueMember2021-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMembernni:FinancingReceivables61to90DaysPastDueMember2022-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMembernni:FinancingReceivables61to90DaysPastDueMember2021-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMembernni:FinancingReceivables61to90DaysPastDueMember2021-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMembernni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMember2022-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMembernni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMember2021-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMembernni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMember2021-09-300001258602us-gaap:FinancialAssetNotPastDueMembernni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2022-09-300001258602us-gaap:FinancialAssetNotPastDueMembernni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2021-12-310001258602us-gaap:FinancialAssetNotPastDueMembernni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2021-09-300001258602nni:FinancingReceivables31To60DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2022-09-300001258602nni:FinancingReceivables31To60DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2021-12-310001258602nni:FinancingReceivables31To60DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2021-09-300001258602nni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMembernni:FinancingReceivables61to90DaysPastDueMember2022-09-300001258602nni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMembernni:FinancingReceivables61to90DaysPastDueMember2021-12-310001258602nni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMembernni:FinancingReceivables61to90DaysPastDueMember2021-09-300001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2022-09-300001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2021-12-310001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2021-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMemberus-gaap:FinancialAssetNotPastDueMember2022-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMemberus-gaap:FinancialAssetNotPastDueMember2021-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMembernni:FinancialAsset90To119DaysPastDueMember2022-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMembernni:FinancialAsset90To119DaysPastDueMember2021-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMembernni:FinancialAsset90To119DaysPastDueMember2021-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMembernni:FinancialAsset120To270DaysPastDueMember2022-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMembernni:FinancialAsset120To270DaysPastDueMember2021-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMembernni:FinancialAsset120To270DaysPastDueMember2021-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMembernni:Financingreceivables271daysorgreaterpastdueMember2022-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMembernni:Financingreceivables271daysorgreaterpastdueMember2021-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredNelnetBankMembernni:Financingreceivables271daysorgreaterpastdueMember2021-09-300001258602us-gaap:FinancialAssetNotPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2022-09-300001258602us-gaap:FinancialAssetNotPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2021-12-310001258602us-gaap:FinancialAssetNotPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2021-09-300001258602us-gaap:FinancingReceivables30To59DaysPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2022-09-300001258602us-gaap:FinancingReceivables30To59DaysPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2021-12-310001258602us-gaap:FinancingReceivables30To59DaysPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2021-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-09-300001258602nni:FICOScoreLessThan705Membernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2022-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMembernni:FICOScore705To734Member2022-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMembernni:FICOScore735To764Member2022-09-300001258602nni:FICOScore765To794Membernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2022-09-300001258602nni:FICOScoreGreaterThan794Membernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2022-09-300001258602nni:FICOScoreLessThan705Membernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2021-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMembernni:FICOScore705To734Member2021-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMembernni:FICOScore735To764Member2021-12-310001258602nni:FICOScore765To794Membernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2021-12-310001258602nni:FICOScoreGreaterThan794Membernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2021-12-310001258602nni:StudentLoanGraceOrDefermentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMember2022-09-300001258602nni:StudentLoanForbearanceMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMember2022-09-300001258602us-gaap:FinancialAssetNotPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMembernni:StudentLoanInRepaymentMember2022-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMembernni:StudentLoanInRepaymentMembernni:FinancingReceivables31To60DaysPastDueMember2022-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMembernni:StudentLoanInRepaymentMembernni:FinancingReceivables61to90DaysPastDueMember2022-09-300001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMembernni:StudentLoanInRepaymentMember2022-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansNonNelnetBankMembernni:StudentLoanInRepaymentMember2022-09-300001258602nni:StudentLoanGraceOrDefermentMembernni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2022-09-300001258602us-gaap:FinancialAssetNotPastDueMembernni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2022-09-300001258602nni:StudentLoanInRepaymentMembernni:FinancingReceivables31To60DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2022-09-300001258602nni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMembernni:FinancingReceivables61to90DaysPastDueMember2022-09-300001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2022-09-300001258602nni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentConsumerAndOtherLoansNonNelnetBankMember2022-09-300001258602nni:StudentLoanGraceOrDefermentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2022-09-300001258602nni:StudentLoanForbearanceMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2022-09-300001258602us-gaap:FinancialAssetNotPastDueMembernni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2022-09-300001258602nni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMembernni:FinancingReceivables31To60DaysPastDueMember2022-09-300001258602nni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMembernni:FinancingReceivables61to90DaysPastDueMember2022-09-300001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2022-09-300001258602nni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansNelnetBankMember2022-09-300001258602nni:BondsandnotesbasedonindicesMembernni:FederallyInsuredStudentLoansMember2022-09-300001258602srt:MinimumMembernni:BondsandnotesbasedonindicesMembernni:FederallyInsuredStudentLoansMember2022-09-300001258602nni:BondsandnotesbasedonindicesMembersrt:MaximumMembernni:FederallyInsuredStudentLoansMember2022-09-300001258602nni:BondsAndNotesBasedOnAuctionOrRemarketingMembernni:FederallyInsuredStudentLoansMember2022-09-300001258602nni:BondsAndNotesBasedOnAuctionOrRemarketingMembersrt:MinimumMembernni:FederallyInsuredStudentLoansMember2022-09-300001258602nni:BondsAndNotesBasedOnAuctionOrRemarketingMembersrt:MaximumMembernni:FederallyInsuredStudentLoansMember2022-09-300001258602nni:VariableRateBondsAndNotesMembernni:FederallyInsuredStudentLoansMember2022-09-300001258602nni:FederallyInsuredStudentLoansMembernni:FixedRateBondsAndNotesMember2022-09-300001258602srt:MinimumMembernni:FederallyInsuredStudentLoansMembernni:FixedRateBondsAndNotesMember2022-09-300001258602srt:MaximumMembernni:FederallyInsuredStudentLoansMembernni:FixedRateBondsAndNotesMember2022-09-300001258602us-gaap:WarehouseAgreementBorrowingsMembernni:FederallyInsuredStudentLoansMember2022-09-300001258602nni:PrivateeducationloansMemberus-gaap:WarehouseAgreementBorrowingsMember2022-09-300001258602nni:PrivateeducationloansMembernni:VariableRateBondsAndNotesMember2022-09-300001258602srt:MinimumMembernni:PrivateeducationloansMembernni:VariableRateBondsAndNotesMember2022-09-300001258602nni:PrivateeducationloansMembersrt:MaximumMembernni:VariableRateBondsAndNotesMember2022-09-300001258602nni:PrivateeducationloansMembernni:FixedRateBondsAndNotesMember2022-09-300001258602srt:MinimumMembernni:PrivateeducationloansMembernni:FixedRateBondsAndNotesMember2022-09-300001258602nni:PrivateeducationloansMembersrt:MaximumMembernni:FixedRateBondsAndNotesMember2022-09-300001258602us-gaap:UnsecuredDebtMember2022-09-300001258602nni:ParticipationAgreementMember2022-09-300001258602us-gaap:RepurchaseAgreementsMember2022-09-300001258602srt:MinimumMemberus-gaap:RepurchaseAgreementsMember2022-09-300001258602us-gaap:RepurchaseAgreementsMembersrt:MaximumMember2022-09-300001258602us-gaap:NotesPayableOtherPayablesMember2022-09-300001258602srt:MinimumMemberus-gaap:NotesPayableOtherPayablesMember2022-09-300001258602srt:MaximumMemberus-gaap:NotesPayableOtherPayablesMember2022-09-300001258602nni:BondsandnotesbasedonindicesMembernni:FederallyInsuredStudentLoansMember2021-12-310001258602srt:MinimumMembernni:BondsandnotesbasedonindicesMembernni:FederallyInsuredStudentLoansMember2021-12-310001258602nni:BondsandnotesbasedonindicesMembersrt:MaximumMembernni:FederallyInsuredStudentLoansMember2021-12-310001258602nni:BondsAndNotesBasedOnAuctionOrRemarketingMembernni:FederallyInsuredStudentLoansMember2021-12-310001258602nni:BondsAndNotesBasedOnAuctionOrRemarketingMembersrt:MinimumMembernni:FederallyInsuredStudentLoansMember2021-12-310001258602nni:BondsAndNotesBasedOnAuctionOrRemarketingMembersrt:MaximumMembernni:FederallyInsuredStudentLoansMember2021-12-310001258602nni:VariableRateBondsAndNotesMembernni:FederallyInsuredStudentLoansMember2021-12-310001258602nni:FederallyInsuredStudentLoansMembernni:FixedRateBondsAndNotesMember2021-12-310001258602srt:MinimumMembernni:FederallyInsuredStudentLoansMembernni:FixedRateBondsAndNotesMember2021-12-310001258602srt:MaximumMembernni:FederallyInsuredStudentLoansMembernni:FixedRateBondsAndNotesMember2021-12-310001258602us-gaap:WarehouseAgreementBorrowingsMembernni:FederallyInsuredStudentLoansMember2021-12-310001258602nni:PrivateeducationloansMemberus-gaap:WarehouseAgreementBorrowingsMember2021-12-310001258602nni:PrivateeducationloansMembernni:VariableRateBondsAndNotesMember2021-12-310001258602srt:MinimumMembernni:PrivateeducationloansMembernni:VariableRateBondsAndNotesMember2021-12-310001258602nni:PrivateeducationloansMembersrt:MaximumMembernni:VariableRateBondsAndNotesMember2021-12-310001258602nni:PrivateeducationloansMembernni:FixedRateBondsAndNotesMember2021-12-310001258602srt:MinimumMembernni:PrivateeducationloansMembernni:FixedRateBondsAndNotesMember2021-12-310001258602nni:PrivateeducationloansMembersrt:MaximumMembernni:FixedRateBondsAndNotesMember2021-12-310001258602us-gaap:UnsecuredDebtMember2021-12-310001258602nni:ParticipationAgreementMember2021-12-310001258602us-gaap:RepurchaseAgreementsMember2021-12-310001258602srt:MinimumMemberus-gaap:RepurchaseAgreementsMember2021-12-310001258602us-gaap:RepurchaseAgreementsMembersrt:MaximumMember2021-12-310001258602us-gaap:SecuredDebtMember2021-12-310001258602us-gaap:WarehouseAgreementBorrowingsMembernni:FederallyInsuredStudentLoansMembernni:NfslwIWarehouseMember2022-09-300001258602us-gaap:WarehouseAgreementBorrowingsMembernni:FederallyInsuredStudentLoansMembernni:NfslwIWarehouseMember2022-07-290001258602us-gaap:WarehouseAgreementBorrowingsMembernni:PrivateLoanWarehouseFacilityMember2022-09-300001258602srt:MinimumMemberus-gaap:WarehouseAgreementBorrowingsMembernni:PrivateLoanWarehouseFacilityMember2022-01-012022-09-300001258602srt:MaximumMemberus-gaap:WarehouseAgreementBorrowingsMembernni:PrivateLoanWarehouseFacilityMember2022-01-012022-09-300001258602nni:UnsecuredLineofCreditMemberus-gaap:LineOfCreditMemberus-gaap:UnsecuredDebtMember2022-09-300001258602nni:UnsecuredLineofCreditMemberus-gaap:LineOfCreditMember2022-09-300001258602nni:UnionBankAndTrustCompanyMember2022-09-3000012586022021-01-012021-03-310001258602us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember2022-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:OneMonthtoThreeMonthBasisSwapOutstanding1Member2022-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:OneMonthtoThreeMonthBasisSwapOutstanding1Member2021-12-310001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:OneMonthToThreeMonthBasisSwapOutstanding2Member2022-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:OneMonthToThreeMonthBasisSwapOutstanding2Member2021-12-310001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:OneMonthToThreeMonthBasisSwapOutstanding3Member2022-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:OneMonthToThreeMonthBasisSwapOutstanding3Member2021-12-310001258602nni:OneMonthToThreeMonthBasisSwapOutstanding4Membernni:OneMonthToThreeMonthLiborBasisSwapMember2022-09-300001258602nni:OneMonthToThreeMonthBasisSwapOutstanding4Membernni:OneMonthToThreeMonthLiborBasisSwapMember2021-12-310001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:OneMonthToThreeMonthBasisSwapOutstanding5Member2022-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:OneMonthToThreeMonthBasisSwapOutstanding5Member2021-12-310001258602nni:OneMonthToThreeMonthLiborBasisSwapMember2022-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMember2021-12-310001258602nni:OneMonthToThreeMonthLiborBasisSwapMemberus-gaap:LondonInterbankOfferedRateLIBORMember2022-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-12-310001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeInterestRateSwap2022MaturityMember2022-09-300001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeInterestRateSwap2022MaturityMember2021-12-310001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeInterestRateSwap2023MaturityMember2022-09-300001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeInterestRateSwap2023MaturityMember2021-12-310001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2024MaturityMemberus-gaap:InterestRateSwapMember2022-09-300001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2024MaturityMemberus-gaap:InterestRateSwapMember2021-12-310001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeInterestRateSwap2025MaturityMember2022-09-300001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeInterestRateSwap2025MaturityMember2021-12-310001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeInterestRateSwap2026MaturityMember2022-09-300001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeInterestRateSwap2026MaturityMember2021-12-310001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2031MaturityMemberus-gaap:InterestRateSwapMember2022-09-300001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2031MaturityMemberus-gaap:InterestRateSwapMember2021-12-310001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMember2022-09-300001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMember2021-12-310001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMember2022-03-310001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeInterestRateSwap2022MaturityMember2022-03-310001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeInterestRateSwap2023MaturityMember2022-03-310001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMember2022-03-012022-03-310001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMember2022-04-290001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeInterestRateSwap2023MaturityMember2022-04-290001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2024MaturityMemberus-gaap:InterestRateSwapMember2022-04-290001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeInterestRateSwap2025MaturityMember2022-04-290001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMember2022-04-292022-04-290001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMember2022-08-260001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeInterestRateSwap2023MaturityMember2022-08-260001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2024MaturityMemberus-gaap:InterestRateSwapMember2022-08-260001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMember2022-08-262022-08-260001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2022-07-012022-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2021-07-012021-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2022-01-012022-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2021-01-012021-09-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMembernni:FixedRateFloorIncomeMember2022-07-012022-09-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMembernni:FixedRateFloorIncomeMember2021-07-012021-09-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMembernni:FixedRateFloorIncomeMember2022-01-012022-09-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMembernni:FixedRateFloorIncomeMember2021-01-012021-09-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2022-07-012022-09-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2021-07-012021-09-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2022-01-012022-09-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2021-01-012021-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMember2021-07-012021-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMember2022-01-012022-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMember2021-01-012021-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMember2022-07-012022-09-300001258602nni:FixedRateFloorIncomeMember2022-07-012022-09-300001258602nni:FixedRateFloorIncomeMember2022-01-012022-09-300001258602nni:FixedRateFloorIncomeMember2021-07-012021-09-300001258602nni:FixedRateFloorIncomeMember2021-01-012021-09-300001258602us-gaap:AssetBackedSecuritiesMember2022-09-300001258602us-gaap:AssetBackedSecuritiesMember2021-12-310001258602nni:PrivateStudentLoanAssetBackedDebtSecuritiesMember2022-09-300001258602nni:PrivateStudentLoanAssetBackedDebtSecuritiesMember2021-12-310001258602us-gaap:DebtSecuritiesMember2022-09-300001258602us-gaap:DebtSecuritiesMember2021-12-310001258602us-gaap:VentureCapitalFundsMemberus-gaap:MiscellaneousInvestmentsMember2022-09-300001258602us-gaap:VentureCapitalFundsMemberus-gaap:MiscellaneousInvestmentsMember2021-12-310001258602us-gaap:RealEstateInvestmentMemberus-gaap:MiscellaneousInvestmentsMember2022-09-300001258602us-gaap:RealEstateInvestmentMemberus-gaap:MiscellaneousInvestmentsMember2021-12-310001258602srt:PartnershipInterestMemberus-gaap:MiscellaneousInvestmentsMember2022-09-300001258602srt:PartnershipInterestMemberus-gaap:MiscellaneousInvestmentsMember2021-12-310001258602us-gaap:MiscellaneousInvestmentsMembernni:PrivateEducationLoanSecuritizationMember2022-09-300001258602us-gaap:MiscellaneousInvestmentsMembernni:PrivateEducationLoanSecuritizationMember2021-12-310001258602us-gaap:MiscellaneousInvestmentsMemberus-gaap:ConsumerLoanMember2022-09-300001258602us-gaap:MiscellaneousInvestmentsMemberus-gaap:ConsumerLoanMember2021-12-310001258602nni:FederallyInsuredLoanSecuritizationMemberus-gaap:MiscellaneousInvestmentsMember2022-09-300001258602nni:FederallyInsuredLoanSecuritizationMemberus-gaap:MiscellaneousInvestmentsMember2021-12-310001258602us-gaap:MiscellaneousInvestmentsMember2022-09-300001258602us-gaap:MiscellaneousInvestmentsMember2021-12-310001258602nni:SolarInvestmentMemberus-gaap:MiscellaneousInvestmentsMember2022-09-300001258602nni:SolarInvestmentMemberus-gaap:MiscellaneousInvestmentsMember2021-12-310001258602nni:TaxliensandaffordablehousinginvestmentsMemberus-gaap:MiscellaneousInvestmentsMember2022-09-300001258602nni:TaxliensandaffordablehousinginvestmentsMemberus-gaap:MiscellaneousInvestmentsMember2021-12-310001258602srt:PartnershipInterestMemberus-gaap:MiscellaneousInvestmentsMember2022-02-252022-02-250001258602srt:PartnershipInterestMemberus-gaap:MiscellaneousInvestmentsMember2022-07-012022-09-300001258602srt:PartnershipInterestMemberus-gaap:MiscellaneousInvestmentsMember2021-07-012021-09-300001258602srt:PartnershipInterestMemberus-gaap:MiscellaneousInvestmentsMember2022-01-012022-09-300001258602srt:PartnershipInterestMemberus-gaap:MiscellaneousInvestmentsMember2021-01-012021-09-300001258602nni:ALLOMemberus-gaap:MiscellaneousInvestmentsMembersrt:PartnershipInterestMember2022-09-300001258602us-gaap:MiscellaneousInvestmentsMembernni:PreferredPartnershipInterestMember2022-09-300001258602us-gaap:MiscellaneousInvestmentsMembernni:PreferredPartnershipInterestMember2022-07-012022-09-300001258602us-gaap:MiscellaneousInvestmentsMembernni:PreferredPartnershipInterestMember2021-07-012021-09-300001258602us-gaap:MiscellaneousInvestmentsMembernni:PreferredPartnershipInterestMember2021-01-012021-09-300001258602us-gaap:MiscellaneousInvestmentsMembernni:PreferredPartnershipInterestMember2022-01-012022-09-300001258602nni:SolarInvestmentMember2022-09-300001258602nni:SolarInvestmentMember2022-07-012022-09-300001258602nni:SolarInvestmentMember2021-07-012021-09-300001258602nni:SolarInvestmentMember2022-01-012022-09-300001258602nni:SolarInvestmentMember2021-01-012021-09-3000012586022022-04-012022-06-300001258602nni:NGWebSolutionsLLCMember2022-04-300001258602nni:NGWebSolutionsLLCMember2022-04-302022-04-300001258602nni:NGWebSolutionsLLCMember2022-04-290001258602nni:NGWebSolutionsLLCMemberus-gaap:CustomerRelationshipsMember2022-04-300001258602nni:NGWebSolutionsLLCMemberus-gaap:CustomerRelationshipsMember2022-04-302022-04-300001258602nni:NGWebSolutionsLLCMemberus-gaap:ComputerSoftwareIntangibleAssetMember2022-04-300001258602nni:NGWebSolutionsLLCMemberus-gaap:ComputerSoftwareIntangibleAssetMember2022-04-302022-04-300001258602nni:NGWebSolutionsLLCMemberus-gaap:TradeNamesMember2022-04-300001258602nni:NGWebSolutionsLLCMemberus-gaap:TradeNamesMember2022-04-302022-04-300001258602nni:GRNESolarMember2022-07-01nni:subsidiary0001258602nni:GRNESolarMember2022-07-012022-07-010001258602us-gaap:TradeNamesMembernni:GRNESolarMember2022-07-010001258602us-gaap:TradeNamesMembernni:GRNESolarMember2022-07-012022-07-010001258602us-gaap:CustomerRelationshipsMembernni:GRNESolarMember2022-07-010001258602us-gaap:CustomerRelationshipsMembernni:GRNESolarMember2022-07-012022-07-010001258602us-gaap:OtherIntangibleAssetsMembernni:GRNESolarMember2022-07-010001258602us-gaap:OtherIntangibleAssetsMembernni:GRNESolarMember2022-07-012022-07-010001258602us-gaap:CustomerRelationshipsMember2022-09-300001258602us-gaap:CustomerRelationshipsMember2021-12-310001258602us-gaap:CustomerRelationshipsMember2022-01-012022-09-300001258602us-gaap:TradeNamesMember2022-09-300001258602us-gaap:TradeNamesMember2022-01-012022-09-300001258602us-gaap:TradeNamesMember2021-12-310001258602us-gaap:ComputerSoftwareIntangibleAssetMember2022-09-300001258602us-gaap:ComputerSoftwareIntangibleAssetMember2021-12-310001258602us-gaap:ComputerSoftwareIntangibleAssetMember2022-01-012022-09-300001258602us-gaap:OtherIntangibleAssetsMember2022-09-300001258602us-gaap:OtherIntangibleAssetsMember2022-01-012022-09-300001258602us-gaap:OtherIntangibleAssetsMember2021-12-310001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2021-12-310001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2022-03-310001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMember2021-12-310001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMember2022-03-310001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2022-03-310001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2021-12-310001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMember2021-12-310001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMember2022-03-310001258602us-gaap:CorporateNonSegmentMember2021-12-310001258602us-gaap:CorporateNonSegmentMember2022-03-3100012586022022-03-310001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2022-04-012022-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2022-01-012022-06-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMember2022-04-012022-06-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMember2022-01-012022-06-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2022-04-012022-06-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2022-01-012022-06-300001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMember2022-01-012022-06-300001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMember2022-04-012022-06-300001258602us-gaap:CorporateNonSegmentMember2022-01-012022-06-300001258602us-gaap:CorporateNonSegmentMember2022-04-012022-06-3000012586022022-01-012022-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2022-06-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMember2022-06-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2022-06-300001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMember2022-06-300001258602us-gaap:CorporateNonSegmentMember2022-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2022-07-012022-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMember2022-07-012022-09-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2022-07-012022-09-300001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMember2022-07-012022-09-300001258602us-gaap:CorporateNonSegmentMember2022-07-012022-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2022-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMember2022-09-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2022-09-300001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMember2022-09-300001258602us-gaap:CorporateNonSegmentMember2022-09-300001258602nni:CommonShareholdersMember2022-07-012022-09-300001258602nni:UnvestedRestrictedStockShareholdersMember2022-07-012022-09-300001258602nni:CommonShareholdersMember2021-07-012021-09-300001258602nni:UnvestedRestrictedStockShareholdersMember2021-07-012021-09-300001258602nni:CommonShareholdersMember2022-01-012022-09-300001258602nni:UnvestedRestrictedStockShareholdersMember2022-01-012022-09-300001258602nni:CommonShareholdersMember2021-01-012021-09-300001258602nni:UnvestedRestrictedStockShareholdersMember2021-01-012021-09-300001258602us-gaap:IntersegmentEliminationMember2022-07-012022-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:LoanServicingAndSystemsMember2022-07-012022-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMembernni:LoanServicingAndSystemsMember2022-07-012022-09-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMembernni:LoanServicingAndSystemsMember2022-07-012022-09-300001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMembernni:LoanServicingAndSystemsMember2022-07-012022-09-300001258602us-gaap:CorporateNonSegmentMembernni:LoanServicingAndSystemsMember2022-07-012022-09-300001258602us-gaap:IntersegmentEliminationMembernni:LoanServicingAndSystemsMember2022-07-012022-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2022-07-012022-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2022-07-012022-09-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2022-07-012022-09-300001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2022-07-012022-09-300001258602us-gaap:CorporateNonSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2022-07-012022-09-300001258602us-gaap:IntersegmentEliminationMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2022-07-012022-09-300001258602nni:SolarConstructionRevenueMembernni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2022-07-012022-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMembernni:SolarConstructionRevenueMemberus-gaap:OperatingSegmentsMember2022-07-012022-09-300001258602nni:SolarConstructionRevenueMemberus-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2022-07-012022-09-300001258602nni:SolarConstructionRevenueMemberus-gaap:OperatingSegmentsMembernni:NelnetBankMember2022-07-012022-09-300001258602nni:SolarConstructionRevenueMemberus-gaap:CorporateNonSegmentMember2022-07-012022-09-300001258602us-gaap:IntersegmentEliminationMembernni:SolarConstructionRevenueMember2022-07-012022-09-300001258602us-gaap:IntersegmentEliminationMember2022-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2021-07-012021-09-300001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMember2021-07-012021-09-300001258602us-gaap:CorporateNonSegmentMember2021-07-012021-09-300001258602us-gaap:IntersegmentEliminationMember2021-07-012021-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:LoanServicingAndSystemsMember2021-07-012021-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMembernni:LoanServicingAndSystemsMember2021-07-012021-09-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMembernni:LoanServicingAndSystemsMember2021-07-012021-09-300001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMembernni:LoanServicingAndSystemsMember2021-07-012021-09-300001258602us-gaap:CorporateNonSegmentMembernni:LoanServicingAndSystemsMember2021-07-012021-09-300001258602us-gaap:IntersegmentEliminationMembernni:LoanServicingAndSystemsMember2021-07-012021-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2021-07-012021-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2021-07-012021-09-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2021-07-012021-09-300001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2021-07-012021-09-300001258602us-gaap:CorporateNonSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2021-07-012021-09-300001258602us-gaap:IntersegmentEliminationMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2021-07-012021-09-300001258602nni:SolarConstructionRevenueMembernni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMembernni:SolarConstructionRevenueMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001258602nni:SolarConstructionRevenueMemberus-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2021-07-012021-09-300001258602nni:SolarConstructionRevenueMemberus-gaap:OperatingSegmentsMembernni:NelnetBankMember2021-07-012021-09-300001258602nni:SolarConstructionRevenueMemberus-gaap:CorporateNonSegmentMember2021-07-012021-09-300001258602us-gaap:IntersegmentEliminationMembernni:SolarConstructionRevenueMember2021-07-012021-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2021-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMember2021-09-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2021-09-300001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMember2021-09-300001258602us-gaap:CorporateNonSegmentMember2021-09-300001258602us-gaap:IntersegmentEliminationMember2021-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2022-01-012022-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMember2022-01-012022-09-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2022-01-012022-09-300001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMember2022-01-012022-09-300001258602us-gaap:CorporateNonSegmentMember2022-01-012022-09-300001258602us-gaap:IntersegmentEliminationMember2022-01-012022-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:LoanServicingAndSystemsMember2022-01-012022-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMembernni:LoanServicingAndSystemsMember2022-01-012022-09-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMembernni:LoanServicingAndSystemsMember2022-01-012022-09-300001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMembernni:LoanServicingAndSystemsMember2022-01-012022-09-300001258602us-gaap:CorporateNonSegmentMembernni:LoanServicingAndSystemsMember2022-01-012022-09-300001258602us-gaap:IntersegmentEliminationMembernni:LoanServicingAndSystemsMember2022-01-012022-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2022-01-012022-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2022-01-012022-09-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2022-01-012022-09-300001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2022-01-012022-09-300001258602us-gaap:CorporateNonSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2022-01-012022-09-300001258602us-gaap:IntersegmentEliminationMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2022-01-012022-09-300001258602nni:SolarConstructionRevenueMembernni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2022-01-012022-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMembernni:SolarConstructionRevenueMemberus-gaap:OperatingSegmentsMember2022-01-012022-09-300001258602nni:SolarConstructionRevenueMemberus-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2022-01-012022-09-300001258602nni:SolarConstructionRevenueMemberus-gaap:OperatingSegmentsMembernni:NelnetBankMember2022-01-012022-09-300001258602nni:SolarConstructionRevenueMemberus-gaap:CorporateNonSegmentMember2022-01-012022-09-300001258602us-gaap:IntersegmentEliminationMembernni:SolarConstructionRevenueMember2022-01-012022-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2021-01-012021-09-300001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMember2021-01-012021-09-300001258602us-gaap:CorporateNonSegmentMember2021-01-012021-09-300001258602us-gaap:IntersegmentEliminationMember2021-01-012021-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:LoanServicingAndSystemsMember2021-01-012021-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMembernni:LoanServicingAndSystemsMember2021-01-012021-09-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMembernni:LoanServicingAndSystemsMember2021-01-012021-09-300001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMembernni:LoanServicingAndSystemsMember2021-01-012021-09-300001258602us-gaap:CorporateNonSegmentMembernni:LoanServicingAndSystemsMember2021-01-012021-09-300001258602us-gaap:IntersegmentEliminationMembernni:LoanServicingAndSystemsMember2021-01-012021-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2021-01-012021-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2021-01-012021-09-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2021-01-012021-09-300001258602us-gaap:OperatingSegmentsMembernni:NelnetBankMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2021-01-012021-09-300001258602us-gaap:CorporateNonSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2021-01-012021-09-300001258602us-gaap:IntersegmentEliminationMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2021-01-012021-09-300001258602nni:SolarConstructionRevenueMembernni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMembernni:SolarConstructionRevenueMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001258602nni:SolarConstructionRevenueMemberus-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2021-01-012021-09-300001258602nni:SolarConstructionRevenueMemberus-gaap:OperatingSegmentsMembernni:NelnetBankMember2021-01-012021-09-300001258602nni:SolarConstructionRevenueMemberus-gaap:CorporateNonSegmentMember2021-01-012021-09-300001258602us-gaap:IntersegmentEliminationMembernni:SolarConstructionRevenueMember2021-01-012021-09-300001258602nni:GovernmentServicingMember2022-07-012022-09-300001258602nni:GovernmentServicingMember2021-07-012021-09-300001258602nni:GovernmentServicingMember2022-01-012022-09-300001258602nni:GovernmentServicingMember2021-01-012021-09-300001258602nni:PrivateEducationAndConsumerLoanServicingMember2022-07-012022-09-300001258602nni:PrivateEducationAndConsumerLoanServicingMember2021-07-012021-09-300001258602nni:PrivateEducationAndConsumerLoanServicingMember2022-01-012022-09-300001258602nni:PrivateEducationAndConsumerLoanServicingMember2021-01-012021-09-300001258602nni:FFELPServicingMember2022-07-012022-09-300001258602nni:FFELPServicingMember2021-07-012021-09-300001258602nni:FFELPServicingMember2022-01-012022-09-300001258602nni:FFELPServicingMember2021-01-012021-09-300001258602nni:SoftwareServicesMember2022-07-012022-09-300001258602nni:SoftwareServicesMember2021-07-012021-09-300001258602nni:SoftwareServicesMember2022-01-012022-09-300001258602nni:SoftwareServicesMember2021-01-012021-09-300001258602nni:OutsourcedServicesRevenueAndOtherMember2022-07-012022-09-300001258602nni:OutsourcedServicesRevenueAndOtherMember2021-07-012021-09-300001258602nni:OutsourcedServicesRevenueAndOtherMember2022-01-012022-09-300001258602nni:OutsourcedServicesRevenueAndOtherMember2021-01-012021-09-300001258602nni:LoanServicingAndSystemsRevenueMember2022-07-012022-09-300001258602nni:LoanServicingAndSystemsRevenueMember2021-07-012021-09-300001258602nni:LoanServicingAndSystemsRevenueMember2022-01-012022-09-300001258602nni:LoanServicingAndSystemsRevenueMember2021-01-012021-09-300001258602nni:TuitionPaymentPlanServicesMember2022-07-012022-09-300001258602nni:TuitionPaymentPlanServicesMember2021-07-012021-09-300001258602nni:TuitionPaymentPlanServicesMember2022-01-012022-09-300001258602nni:TuitionPaymentPlanServicesMember2021-01-012021-09-300001258602nni:PaymentProcessingMember2022-07-012022-09-300001258602nni:PaymentProcessingMember2021-07-012021-09-300001258602nni:PaymentProcessingMember2022-01-012022-09-300001258602nni:PaymentProcessingMember2021-01-012021-09-300001258602nni:EducationTechnologyAndServicesMember2022-07-012022-09-300001258602nni:EducationTechnologyAndServicesMember2021-07-012021-09-300001258602nni:EducationTechnologyAndServicesMember2022-01-012022-09-300001258602nni:EducationTechnologyAndServicesMember2021-01-012021-09-300001258602nni:OtherServiceOfferingMember2022-07-012022-09-300001258602nni:OtherServiceOfferingMember2021-07-012021-09-300001258602nni:OtherServiceOfferingMember2022-01-012022-09-300001258602nni:OtherServiceOfferingMember2021-01-012021-09-300001258602us-gaap:InvestmentAdviceMember2022-07-012022-09-300001258602us-gaap:InvestmentAdviceMember2021-07-012021-09-300001258602us-gaap:InvestmentAdviceMember2022-01-012022-09-300001258602us-gaap:InvestmentAdviceMember2021-01-012021-09-300001258602nni:ALLOVotingMembershipInterestsInvestmentMember2022-07-012022-09-300001258602nni:ALLOVotingMembershipInterestsInvestmentMember2021-07-012021-09-300001258602nni:ALLOVotingMembershipInterestsInvestmentMember2022-01-012022-09-300001258602nni:ALLOVotingMembershipInterestsInvestmentMember2021-01-012021-09-300001258602nni:SolarInvestmentMember2022-07-012022-09-300001258602nni:SolarInvestmentMember2021-07-012021-09-300001258602nni:SolarInvestmentMember2022-01-012022-09-300001258602nni:SolarInvestmentMember2021-01-012021-09-300001258602nni:GovernmentServicingContractBorrowersMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesRevenueNetMember2022-09-30nni:borrower0001258602us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-09-300001258602us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2022-09-300001258602us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310001258602us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2021-12-310001258602us-gaap:FairValueInputsLevel1Membernni:PrivateStudentLoanAssetBackedDebtSecuritiesMember2022-09-300001258602nni:PrivateStudentLoanAssetBackedDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2022-09-300001258602us-gaap:FairValueInputsLevel1Membernni:PrivateStudentLoanAssetBackedDebtSecuritiesMember2021-12-310001258602nni:PrivateStudentLoanAssetBackedDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2021-12-310001258602us-gaap:DebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-09-300001258602us-gaap:DebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2022-09-300001258602us-gaap:DebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310001258602us-gaap:DebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2021-12-310001258602us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-09-300001258602us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel2Member2022-09-300001258602us-gaap:EquitySecuritiesMember2022-09-300001258602us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310001258602us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel2Member2021-12-310001258602us-gaap:EquitySecuritiesMember2021-12-310001258602nni:AlternativeInvestmentMember2022-09-300001258602nni:AlternativeInvestmentMember2021-12-310001258602us-gaap:FairValueInputsLevel1Member2022-09-300001258602us-gaap:FairValueInputsLevel2Member2022-09-300001258602us-gaap:FairValueInputsLevel1Member2021-12-310001258602us-gaap:FairValueInputsLevel2Member2021-12-310001258602us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300001258602us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-300001258602us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300001258602us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300001258602us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300001258602us-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310001258602us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001258602us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310001258602us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310001258602us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-31



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2022 
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from  to . 
Commission File Number: 001-31924
nni-20220930_g1.jpg
NELNET, INC.
(Exact name of registrant as specified in its charter)
Nebraska
84-0748903
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
121 South 13th Street, Suite 100
Lincoln,Nebraska68508
(Address of principal executive offices)
(Zip Code)
(402) 458-2370
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Class A Common Stock, Par Value $0.01 per ShareNNINew York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.                       Yes No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).                             Yes No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer                                                      Accelerated filer
Non-accelerated filer                     Smaller reporting company
        Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes  No
As of October 31, 2022, there were 26,437,070 and 10,673,659 shares of Class A Common Stock and Class B Common Stock, par value $0.01 per share, outstanding, respectively (excluding a total of 11,305,731 shares of Class A Common Stock held by wholly owned subsidiaries).





NELNET, INC.
FORM 10-Q
INDEX
September 30, 2022








PART I. FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS
NELNET, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except share data)
(unaudited)
 
As of
As of
 September 30, 2022December 31, 2021
Assets:  
Loans and accrued interest receivable (net of allowance for loan losses of $119,057 and
   $127,113, respectively)
$15,876,251 18,335,197 
Cash and cash equivalents:  
Cash and cash equivalents - not held at a related party30,800 30,128 
Cash and cash equivalents - held at a related party32,398 95,435 
Total cash and cash equivalents63,198 125,563 
Investments and notes receivable2,063,514 1,588,919 
Restricted cash799,212 741,981 
Restricted cash - due to customers180,919 326,645 
Accounts receivable (net of allowance for doubtful accounts of $3,195 and $1,160, respectively)
121,945 163,315 
Goodwill172,033 142,092 
Intangible assets, net70,368 52,029 
Property and equipment, net127,094 119,413 
Other assets88,999 82,887 
Total assets$19,563,533 21,678,041 
Liabilities:  
Bonds and notes payable$15,042,595 17,631,089 
Accrued interest payable21,796 4,566 
Bank deposits580,825 344,315 
Other liabilities445,606 379,231 
Due to customers306,352 366,002 
Total liabilities16,397,174 18,725,203 
Commitments and contingencies
Equity:
Nelnet, Inc. shareholders' equity:  
Preferred stock, $0.01 par value. Authorized 50,000,000 shares; no shares issued or outstanding
  
Common stock:
Class A, $0.01 par value. Authorized 600,000,000 shares; issued and outstanding 26,483,298
     shares and 27,239,654 shares, respectively
265 272 
Class B, convertible, $0.01 par value. Authorized 60,000,000 shares; issued and outstanding
     10,673,659 shares and 10,676,642 shares, respectively
107 107 
Additional paid-in capital837 1,000 
Retained earnings3,208,044 2,940,523 
Accumulated other comprehensive (loss) earnings, net(28,639)9,304 
Total Nelnet, Inc. shareholders' equity3,180,614 2,951,206 
Noncontrolling interests(14,255)1,632 
Total equity3,166,359 2,952,838 
Total liabilities and equity$19,563,533 21,678,041 
Supplemental information - assets and liabilities of consolidated education lending
     variable interest entities:
Loans and accrued interest receivable$15,173,335 17,981,414 
Restricted cash712,435 674,073 
Bonds and notes payable(14,725,098)(17,462,456)
Accrued interest payable and other liabilities(96,004)(36,276)
Net assets of consolidated education lending variable interest entities$1,064,668 1,156,755 
See accompanying notes to consolidated financial statements.
2



NELNET, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except share data)
(unaudited)
 Three months endedNine months ended
 September 30,September 30,
 2022202120222021
Interest income:  
Loan interest$176,244 124,096 422,327 370,219 
Investment interest26,889 12,558 57,589 29,122 
Total interest income203,133 136,654 479,916 399,341 
Interest expense on bonds and notes payable and bank deposits126,625 50,176 248,347 127,939 
Net interest income76,508 86,478 231,569 271,402 
Less provision (negative provision) for loan losses9,665 5,827 18,640 (10,847)
Net interest income after provision for loan losses66,843 80,651 212,929 282,249 
Other income/expense: 
Loan servicing and systems revenue134,197 112,351 395,438 335,961 
Education technology, services, and payment processing revenue106,894 85,324 310,211 257,284 
Solar construction revenue9,358  9,358  
Other2,225 11,867 24,750 30,183 
Gain on sale of loans2,627 3,444 5,616 18,715 
Impairment expense and provision for beneficial interests, net121 (14,159)(6,163)(12,223)
Derivative market value adjustments and derivative settlements, net63,262 1,351 251,210 28,868 
Total other income/expense318,684 200,178 990,420 658,788 
Cost of services:
Cost to provide education technology, services, and payment processing services42,676 31,335 109,073 80,063 
Cost to provide solar construction services5,968  5,968  
Total cost of services48,644 31,335 115,041 80,063 
Operating expenses:  
Salaries and benefits147,198 128,592 438,010 363,351 
Depreciation and amortization18,772 15,710 53,978 56,129 
Other expenses43,858 38,324 120,297 107,611 
Total operating expenses209,828 182,626 612,285 527,091 
Income before income taxes127,055 66,868 476,023 333,883 
Income tax expense26,586 15,649 107,765 76,747 
Net income100,469 51,219 368,258 257,136 
Net loss attributable to noncontrolling interests4,329 1,919 8,315 3,467 
Net income attributable to Nelnet, Inc.$104,798 53,138 376,573 260,603 
Earnings per common share:
Net income attributable to Nelnet, Inc. shareholders - basic and diluted
$2.80 1.38 9.99 6.74 
Weighted average common shares outstanding - basic and diluted
37,380,493 38,595,721 37,708,425 38,646,892 
    
See accompanying notes to consolidated financial statements.
3



NELNET, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Dollars in thousands)
(unaudited)
Three months ended September 30,Nine months ended September 30,
2022202120222021
Net income$100,469 51,219 368,258 257,136 
Other comprehensive income (loss):
Net changes related to foreign currency translation adjustments$18 (9)19 (9)
Net changes related to available-for-sale debt securities:
Unrealized holding gains (losses) arising during period, net4,790 4,524 (45,730)11,770 
Reclassification of gains recognized in net income, net of losses(578)(1,173)(4,220)(2,052)
Income tax effect(1,011)3,201 (804)2,547 11,988 (37,962)(2,332)7,386 
Other comprehensive income (loss)3,219 2,538 (37,943)7,377 
Comprehensive income103,688 53,757 330,315 264,513 
Comprehensive loss attributable to noncontrolling interests4,329 1,919 8,315 3,467 
Comprehensive income attributable to Nelnet, Inc.$108,017 55,676 338,630 267,980 

See accompanying notes to consolidated financial statements.
4



NELNET, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
(Dollars in thousands, except share data)
(unaudited)
 
Nelnet, Inc. Shareholders
 Preferred stock sharesCommon stock sharesPreferred stockClass A common stockClass B common stockAdditional paid-in capital Retained earningsAccumulated other comprehensive (loss) earningsNoncontrolling interestsTotal equity
 Class AClass B
Balance as of June 30, 2021 27,494,942 11,054,171 $ 275 111 10,158 2,812,315 10,941 (5,182)2,828,618 
Issuance of noncontrolling interests— — — — — — — — — 4,935 4,935 
Net income (loss)— — — — — — — 53,138 — (1,919)51,219 
Other comprehensive income— — — — — — — — 2,538 — 2,538 
Distribution to noncontrolling interests— — — — — — — — — (125)(125)
Cash dividends on Class A and Class B common stock - $0.22 per share
— — — — — — — (8,407)— — (8,407)
Issuance of common stock, net of forfeitures— 29,805 — — — — 493 — — — 493 
Compensation expense for stock based awards— — — — — — 2,770 — — — 2,770 
Repurchase of common stock— (341,094)— — (3)— (11,828)(13,247)— — (25,078)
Conversion of common stock— 372,717 (372,717)— 4 (4)— — — —  
Balance as of September 30, 2021 27,556,370 10,681,454 $ 276 107 1,593 2,843,799 13,479 (2,291)2,856,963 
Balance as of June 30, 2022 26,613,733 10,674,892 $ 266 107 1,180 3,127,687 (31,858)(6,237)3,091,145 
Issuance of noncontrolling interests— — — — — — — — — 14,018 14,018 
Net income (loss)— — — — — — — 104,798 — (4,329)100,469 
Other comprehensive income— — — — — — — — 3,219 — 3,219 
Distribution to noncontrolling interests— — — — — — — — — (17,707)(17,707)
Cash dividends on Class A and Class B common stock - $0.24 per share
— — — — — — — (8,925)— — (8,925)
Issuance of common stock, net of forfeitures— 38,192 — — 1 — 476 — — — 477 
Compensation expense for stock based awards— — — — — — 3,631 — — — 3,631 
Repurchase of common stock— (169,860)— — (2)— (4,450)(9,841)— — (14,293)
Conversion of common stock— 1,233 (1,233)— — — — — — —  
Other— — — — — — — (5,675)— — (5,675)
Balance as of September 30, 2022 26,483,298 10,673,659 $ 265 107 837 3,208,044 (28,639)(14,255)3,166,359 

See accompanying notes to consolidated financial statements.

5



NELNET, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
(Dollars in thousands, except share data)
(unaudited)
Nelnet, Inc. Shareholders
Preferred stock sharesCommon stock sharesPreferred stockClass A common stockClass B common stockAdditional paid-in capitalRetained earningsAccumulated other comprehensive (loss) earningsNoncontrolling interestsTotal equity
Class AClass B
Balance as of December 31, 2020 27,193,154 11,155,571 $ 272 112 3,794 2,621,762 6,102 (3,693)2,628,349 
Issuance of noncontrolling interests— — — — — — — — — 11,823 11,823 
Net income (loss)— — — — — — — 260,603 — (3,467)257,136 
Other comprehensive income— — — — — — — — 7,377 — 7,377 
Distribution to noncontrolling interests— — — — — — — — — (6,954)(6,954)
Cash dividends on Class A and Class B common stock - $0.66 per share
— — — — — — — (25,319)— — (25,319)
Issuance of common stock, net of forfeitures— 261,760 — — 3 — 4,406 — — — 4,409 
Compensation expense for stock based awards— — — — — — 7,628 — — — 7,628 
Repurchase of common stock— (372,661)— — (4)— (14,235)(13,247)— — (27,486)
Conversion of common stock— 474,117 (474,117)— 5 (5)— — — —  
Balance as of September 30, 2021 27,556,370 10,681,454 $ 276 107 1,593 2,843,799 13,479 (2,291)