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Earnings per Common Share
12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Earnings Per Common Share
Earnings per Common Share

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.
 
Year ended December 31,
 
2017
 
2016
 
2015
 
Common shareholders
 
Unvested restricted stock shareholders
 
Total
 
Common shareholders
 
Unvested restricted stock shareholders
 
Total
 
Common shareholders
 
Unvested restricted stock shareholders
 
Total
Numerator:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income attributable to Nelnet, Inc.
$
171,442

 
1,724

 
173,166

 
254,063

 
2,688

 
256,751

 
265,129

 
2,850

 
267,979

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average common shares outstanding - basic and diluted
41,375,964

 
415,977

 
41,791,941

 
42,222,335

 
446,735

 
42,669,070

 
45,045,199

 
484,141

 
45,529,340

Earnings per share - basic and diluted
$
4.14

 
4.14

 
4.14

 
6.02

 
6.02

 
6.02

 
5.89

 
5.89

 
5.89



Unvested restricted stock awards are the Company's only potential common shares and, accordingly, there were no awards that were antidilutive and not included in average shares outstanding for the diluted earnings per share calculation.

As of December 31, 2017, a cumulative amount of 171,519 shares have been deferred by non-employee directors under the Directors Stock Compensation Plan and will become issuable upon the termination of service by the respective non-employee director on the board of directors. These shares are included in the Company's weighted average shares outstanding calculation.