The following tables include the results of each of the Company's reportable operating segments reconciled to the consolidated financial statements.



	Year ended December 31, 2017
	Loan Systems and Servicing			Tuition Payment Processing and Campus Commerce		Communications		Asset Generation and Management		Corporate and Other Activities		Eliminations		Total
Total interest income	$	513		17		3		764,225		13,643		(7,976	)	770,426
Interest expense	3			—		5,427		464,256		3,477		(7,976	)	465,188
Net interest income	510			17		(5,424	)	299,969		10,166		—		305,238
Less provision for loan losses	—			—		—		14,450		—		—		14,450
Net interest income (loss) after provision for loan losses	510			17		(5,424	)	285,519		10,166		—		290,788
Other income:
Loan systems and servicing revenue	223,000			—		—		—		—		—		223,000
Intersegment servicing revenue	41,674			—		—		—		—		(41,674	)	—
Tuition payment processing, school information, and campus commerce revenue	—			145,751		—		—		—		—		145,751
Communications revenue	—			—		25,700		—		—		—		25,700
Other income	—			—		—		13,424		39,402		—		52,826
Gain on sale of loans and debt repurchases, net	—			—		—		(1,567	)	4,469		—		2,902
Derivative settlements, net	—			—		—		1,448		(781	)	—		667
Derivative market value and foreign currency transaction adjustments, net	—			—		—		(19,357	)	136		—		(19,221	)
Total other income	264,674			145,751		25,700		(6,052	)	43,226		(41,674	)	431,625
Operating expenses:
Salaries and benefits	156,256			69,500		14,947		1,548		59,633		—		301,885
Depreciation and amortization	2,864			9,424		11,835		—		15,418		—		39,541
Loan servicing fees	—			—		—		22,734		—		—		22,734
Cost to provide communications services	—			—		9,950		—		—		—		9,950
Other expenses	39,126			19,138		8,074		3,900		51,381		—		121,619
Intersegment expenses, net	31,871			9,079		2,101		42,830		(44,208	)	(41,674	)	—
Total operating expenses	230,117			107,141		46,907		71,012		82,224		(41,674	)	495,729
Income (loss) before income taxes	35,067			38,627		(26,631	)	208,455		(28,832	)	—		226,684
Income tax (expense) benefit	(18,128		)	(14,678	)	10,120		(79,213	)	37,036		—		(64,863	)
Net income (loss)	16,939			23,949		(16,511	)	129,242		8,204		—		161,821
Net loss (income) attributable to noncontrolling interests	12,640			—		—		—		(1,295	)	—		11,345
Net income (loss) attributable to Nelnet, Inc.	$	29,579		23,949		(16,511	)	129,242		6,909		—		173,166

Total assets as of December 31, 2017	$	122,330		250,351		214,336		22,910,974		877,859		(411,415	)	23,964,435



	Year ended December 31, 2016
	Loan Systems and Servicing			Tuition Payment Processing and Campus Commerce		Communications		Asset Generation and Management		Corporate and Other Activities		Eliminations		Total
Total interest income	$	111		9		1		754,788		10,913		(5,076	)	760,746
Interest expense	—			—		1,271		385,913		6,076		(5,076	)	388,183
Net interest income	111			9		(1,270	)	368,875		4,837		—		372,563
Less provision for loan losses	—			—		—		13,500		—		—		13,500
Net interest income (loss) after provision for loan losses	111			9		(1,270	)	355,375		4,837		—		359,063
Other income:
Loan systems and servicing revenue	214,846			—		—		—		—		—		214,846
Intersegment servicing revenue	45,381			—		—		—		—		(45,381	)	—
Tuition payment processing, school information, and campus commerce revenue	—			132,730		—		—		—		—		132,730
Communications revenue	—			—		17,659		—		—		—		17,659
Enrollment services revenue	—			—		—		—		4,326		—		4,326
Other income	—			—		—		15,709		38,221		—		53,929
Gain on sale of loans and debt repurchases, net	—			—		—		5,846		2,135		—		7,981
Derivative settlements, net	—			—		—		(21,034	)	(915	)	—		(21,949	)
Derivative market value and foreign currency transaction adjustments, net	—			—		—		70,368		1,376		—		71,744
Total other income	260,227			132,730		17,659		70,889		45,143		(45,381	)	481,266
Operating expenses:
Salaries and benefits	132,072			62,329		7,649		1,985		51,889		—		255,924
Depreciation and amortization	1,980			10,595		6,060		—		15,298		—		33,933
Loan servicing fees	—			—		—		25,750		—		—		25,750
Cost to provide communications services	—			—		6,866		—		—		—		6,866
Cost to provide enrollment services	—			—		—		—		3,623		—		3,623
Other expenses	40,715			18,486		4,370		6,005		45,843		—		115,419
Intersegment expenses, net	24,204			6,615		958		46,494		(32,889	)	(45,381	)	—
Total operating expenses	198,971			98,025		25,903		80,234		83,764		(45,381	)	441,515
Income (loss) before income taxes	61,367			34,714		(9,514	)	346,030		(33,784	)	—		398,814
Income tax (expense) benefit	(23,319		)	(13,191	)	3,615		(131,492	)	23,074		—		(141,313	)
Net income (loss)	38,048			21,523		(5,899	)	214,538		(10,710	)	—		257,501
Net loss (income) attributable to noncontrolling interests	—			—		—		—		(750	)	—		(750	)
Net income (loss) attributable to Nelnet, Inc.	$	38,048		21,523		(5,899	)	214,538		(11,460	)	—		256,751

Total assets as of December 31, 2016	$	55,469		230,283		103,104		26,378,467		682,459		(256,687	)	27,193,095



	Year ended December 31, 2015 (a)
	Loan Systems and Servicing			Tuition Payment Processing and Campus Commerce		Communications	Asset Generation and Management		Corporate and Other Activities		Eliminations		Total
Total interest income	$	49		3		—	728,199		7,686		(1,828	)	734,109
Interest expense	—			—		—	297,625		6,413		(1,828	)	302,210
Net interest income	49			3		—	430,574		1,273		—		431,899
Less provision for loan losses	—			—		—	10,150		—		—		10,150
Net interest income (loss) after provision for loan losses	49			3		—	420,424		1,273		—		421,749
Other income:
Loan systems and servicing revenue	239,858			—		—	—		—		—		239,858
Intersegment servicing revenue	50,354			—		—	—		—		(50,354	)	—
Tuition payment processing, school information, and campus commerce revenue	—			120,365		—	—		—		—		120,365
Enrollment services revenue	—			—		—	—		51,073		—		51,073
Other income	—			(925	)	—	15,939		32,248		—		47,262
Gain on sale of loans and debt repurchases, net	—			—		—	2,034		3,119		—		5,153
Derivative settlements, net	—			—		—	(23,238	)	(1,012	)	—		(24,250	)
Derivative market value and foreign currency transaction adjustments, net	—			—		—	27,216		1,435		—		28,651
Total other income	290,212			119,440		—	21,951		86,863		(50,354	)	468,112
Operating expenses:
Salaries and benefits	134,635			55,523		—	2,172		55,585		—		247,914
Depreciation and amortization	1,931			8,992		—	—		15,420		—		26,343
Loan servicing fees	—			—		—	30,213		—		—		30,213
Cost to provide enrollment services	—			—		—	—		41,733		—		41,733
Other expenses	57,799			15,161		—	5,083		44,971		—		123,014
Intersegment expenses, net	29,706			8,617		—	50,899		(38,868	)	(50,354	)	—
Total operating expenses	224,071			88,293		—	88,367		118,841		(50,354	)	469,217
Income (loss) before income taxes	66,190			31,150		—	354,008		(30,705	)	—		420,644
Income tax (expense) benefit	(25,153		)	(11,838	)	—	(134,522	)	19,132		—		(152,380	)
Net income (loss)	41,037			19,312		—	219,486		(11,573	)	—		268,264
Net loss (income) attributable to noncontrolling interests	20			—		—	—		(305	)	—		(285	)
Net income (loss) attributable to Nelnet, Inc.	$	41,057		19,312		—	219,486		(11,878	)	—		267,979

Total assets as of December 31, 2015	$	80,459		229,615		68,760	29,634,280		624,953		(218,923	)	30,419,144

(a) On December 31, 2015, the Company purchased ALLO. The ALLO assets acquired and liabilities assumed were recorded by the Company at their respective fair values at the date of acquisition. As such, ALLO's assets and liabilities as of December 31, 2015 are included in the Company's consolidated balance sheet. However, ALLO had no impact on the consolidated statement of income during 2015.