Earnings per Common Share (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Earnings Per Share, Basic and Diluted

Presented below is a summary of the components used to calculate basic and diluted earnings per share. The Company applies the two-class method in computing both basic and diluted earnings per share, which requires the calculation of separate earnings per share amounts for common stock and unvested share-based awards. Unvested share-based awards that contain nonforfeitable rights to dividends are considered securities which participate in undistributed earnings with common stock.


	Three months ended September 30,
	2019						2018
	Common shareholders		Unvested restricted stock shareholders	Total	Common shareholders	Unvested restricted stock shareholders	Total
Numerator:
Net income attributable to Nelnet, Inc.	$	32,778	434	33,212	42,354	573	42,927

Denominator:
Weighted-average common shares outstanding - basic and diluted	39,356,311		520,818	39,877,129	40,441,783	547,182	40,988,965
Earnings per share - basic and diluted	$	0.83	0.83	0.83	1.05	1.05	1.05


	Nine months ended September 30,
	2019						2018
	Common shareholders		Unvested restricted stock shareholders	Total	Common shareholders	Unvested restricted stock shareholders	Total
Numerator:
Net income attributable to Nelnet, Inc.	$	98,125	1,298	99,423	203,881	2,406	206,287

Denominator:
Weighted-average common shares outstanding - basic and diluted	39,574,868		523,478	40,098,346	40,464,638	477,539	40,942,177
Earnings per share - basic and diluted	$	2.48	2.48	2.48	5.04	5.04	5.04