Nelnet Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	216.43	194.52	168.11	118.15	125.56	121.25
Long-Term Investments	1,975	1,853	1,568	1,862	1,422	883.47
Trading Asset Securities	0.36	3.23	0.45	-	-	-
Loans & Lease Receivables	10,366	10,239	13,387	15,414	18,455	20,244
Other Receivables	147.82	221.73	263.6	194.85	171.42	97.96
Property, Plant & Equipment	93.17	106.2	140.57	137.38	133.73	141.83
Goodwill	158.03	158.03	158.03	176.9	142.09	142.09
Other Intangible Assets	31.75	36.33	44.82	63.5	52.03	75.07
Restricted Cash	550.37	736.5	857.38	1,239	1,069	837.15
Long-Term Deferred Tax Assets	-	21	21.8	34.4	27.3	-
Long-Term Deferred Charges	-	21.1	-	-	-	-
Other Long-Term Assets	337.95	187.66	102.71	133.95	80.4	103.36
Total Assets	13,877	13,778	16,712	19,374	21,678	22,646
Interest Bearing Deposits	1,920	1,665	1,169	1,040	710.32	356.1
Total Deposits	1,920	1,665	1,169	1,040	710.32	356.1
Accrued Expenses	19.04	21.05	35.39	36.05	4.57	28.7
Short-Term Debt	2.49	3.37	12.04	395.43	-	-
Current Portion of Long-Term Debt	-	-	208.16	64.36	253.97	-
Current Portion of Leases	-	3.55	-	-	-	-
Long-Term Debt	7,823	8,306	11,610	14,177	17,377	19,321
Long-Term Leases	-	7.98	14.29	16.41	15.9	18.73
Long-Term Unearned Revenue	-	88.29	72.55	56.65	41.17	36.2
Current Income Taxes Payable	-	-	-	5.2	-	-
Long-Term Deferred Tax Liabilities	-	30.4	72.9	140.1	117.9	117.9
Other Long-Term Liabilities	526.43	352.93	317.67	242.89	204.26	139.45
Total Liabilities	10,290	10,479	13,512	16,174	18,725	20,018
Common Stock	0.36	0.36	0.37	0.37	0.38	0.38
Additional Paid-In Capital	1.06	7.39	3.1	1.11	1	3.79
Retained Earnings	3,648	3,341	3,270	3,235	2,941	2,622
Comprehensive Income & Other	3.5	1.47	-20.12	-37.37	9.3	6.1
Total Common Equity	3,653	3,350	3,254	3,199	2,951	2,632
Minority Interest	-66.6	-50.65	-53.64	0.94	1.63	-3.69
Shareholders' Equity	3,587	3,299	3,200	3,200	2,953	2,628
Total Liabilities & Equity	13,877	13,778	16,712	19,374	21,678	22,646
Total Debt	7,825	8,321	11,845	14,654	17,647	19,339
Net Cash (Debt)	-7,608	-8,124	-11,676	-14,535	-17,521	-19,218
Net Cash Per Share	-208.82	-221.70	-312.06	-386.55	-454.24	-492.02
Filing Date Shares Outstanding	35.93	36.29	37.04	37.14	37.78	38.35
Total Common Shares Outstanding	35.99	36.29	37.06	37.13	37.92	38.35
Working Capital	9,340	9,702	13,252	15,426	18,852	20,916
Book Value Per Share	101.50	92.30	87.79	86.16	77.83	68.63
Tangible Book Value	3,464	3,155	3,051	2,959	2,757	2,415
Tangible Book Value Per Share	96.23	86.94	82.32	79.68	72.72	62.97

Source: S&P Global Market Intelligence. Financial Services template. Financial Sources.