Nelnet, Inc. (NNI)

Nelnet Cash Flow Statement

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

Year	2023	2022	2021	2020	2019
Net Income	91.53	407.35	393.29	352.44	141.8
Depreciation & Amortization	150.27	181.95	139.5	210.07	201.46
Share-Based Compensation	16.48	14.18	10.67	16.74	6.78
Other Operating Activities	174.69	80.59	-63.13	-230.15	-51.12
Operating Cash Flow	432.98	684.06	480.33	349.1	298.92
Operating Cash Flow Growth	-36.71%	42.41%	37.59%	16.79%	10.34%
Capital Expenditures	-74.05	-59.42	-58.95	-113.31	-92.5
Acquisitions	-467.55	-42.35	-22.68	-177.53	-101.54
Change in Investments	2,480	2,374	1,268	912.06	1,719
Investing Cash Flow	1,938	2,272	1,186	621.22	1,525
Dividends Paid	-39.42	-36.61	-34.46	-31.78	-29.49
Share Issuance / Repurchase	-26.25	-96.05	-56.65	-71.71	-38.86
Debt Issued / Paid	-2,850.72	-3,041.41	-1,743.3	-1,253.47	-1,729.34
Other Financing Activities	213.19	381.57	404.06	122.43	4.42
Financing Cash Flow	-2,703.2	-2,792.5	-1,430.35	-1,234.53	-1,793.27
Exchange Rate Effect	0.02	-0.16	-0.12	0	0
Net Cash Flow	-332.13	163.43	235.79	-264.21	30.21
Free Cash Flow	358.92	624.64	421.38	235.79	206.42
Free Cash Flow Growth	-42.54%	48.24%	78.71%	14.23%	41.51%
Free Cash Flow Margin	31.09%	41.30%	31.51%	17.64%	19.82%
Free Cash Flow Per Share	9.59	16.61	10.92	6.04	5.15

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).