Back in February, as the massive college football preview series was getting underway, I posted my annual preseason S&P+ projections, which are based on three primary factors: returning production, recruiting, and recent history. I built win projections off of these ratings and used them throughout the preview series.

Now comes the final step in the projections process: changing all the numbers at the end of the offseason! Injuries, suspensions, and other forms of attrition have changed the returning production figures over the course of the spring and summer, as has the return of certain players from injury, and late commitments have slightly changed the recruiting numbers.

So as the final step before we bid adieu to the eight-month college football offseason, let’s take one final stab at preseason S&P+ rankings. Updated win projections will follow on Friday.

(You can find a complete version of these projections, complete with last year’s ranking and the rankings changes since February, here. My own personal power rankings are here, with links to all 130 team previews.)

2017 S&P+ projections

Team Projected 2017 S&P+ Rk Offense Rk Defense Rk Team Projected 2017 S&P+ Rk Offense Rk Defense Rk Alabama 33.9 1 41.1 5 7.2 1 Florida State 26 2 41.9 3 15.9 8 Ohio State 25.5 3 38.8 14 13.3 3 LSU 23.1 4 38.8 13 15.7 7 Oklahoma 22.9 5 48.5 1 25.6 40 Clemson 22.5 6 36.5 29 14 6 USC 22 7 41.2 4 19.1 14 Auburn 20.7 8 38.3 17 17.6 11 Penn State 20.2 9 41.1 6 20.8 18 Michigan 20.1 10 33.7 40 13.6 5 Wisconsin 19.5 11 33.1 44 13.6 4 Stanford 19.1 12 35.2 35 16.1 9 Washington 18.2 13 39.9 9 21.7 20 Louisville 18 14 37.7 20 19.7 15 Florida 18 15 30.9 59 12.9 2 Notre Dame 15.3 16 37.1 25 21.8 21 Texas 14.5 17 39.4 11 24.9 37 Miami-FL 14.4 18 32.4 51 18 12 TCU 13.4 19 37.6 22 24.2 33 Oklahoma State 13.3 20 43.1 2 29.8 67 Georgia 13.2 21 31.3 55 18.1 13 Texas A&M 13.1 22 35.5 33 22.4 22 Ole Miss 12.3 23 38.4 16 26.1 43 Virginia Tech 11.1 24 28 76 16.9 10 Tennessee 10.3 25 36.1 31 25.8 42 NC State 10 26 32.6 48 22.6 23 Baylor 9.4 27 34.6 36 25.2 38 Georgia Tech 8.7 28 33.4 43 24.7 36 Arkansas 8.6 29 35.7 32 27 51 Oregon 8.6 30 39.5 10 30.9 76 Boise State 8.2 31 37.3 24 29 62 UCLA 8 32 32.1 52 24.1 32 Mississippi State 7.9 33 38.4 15 30.5 74 Kansas State 7.7 34 35.3 34 27.6 53 Nebraska 7.6 35 28.5 73 20.8 19 Pittsburgh 7.2 36 39.1 12 31.9 80 North Carolina 7.2 37 31.2 56 24 31 Northwestern 6.9 38 29.7 64 22.8 26 South Carolina 6.7 39 29.5 66 22.7 25 Washington State 6.4 40 36.6 28 30.1 70 Indiana 6 41 28.8 70 22.8 27 Houston 5.6 42 29.8 61 24.2 34 Colorado State 5.3 43 38 19 32.7 81 Utah 4.9 44 32.8 46 27.9 54 Kentucky 4.8 45 34.1 38 29.3 64 Colorado 4.5 46 32.8 45 28.3 56 Missouri 4.5 47 37.6 21 33.1 88 BYU 4.1 48 26.8 84 22.7 24 Western Kentucky 4 49 34.4 37 30.4 71 South Florida 3.9 50 40 8 36.1 108 Memphis 3.6 51 36.6 27 33 86 Iowa 3.5 52 23.5 107 20.1 16 California 3.3 53 37 26 33.7 95 Michigan State 3.3 54 27.6 80 24.3 35 Iowa State 3.3 55 36.1 30 32.8 84 Toledo 3.3 56 38.2 18 34.9 100 San Diego State 3.1 57 29.8 62 26.7 48 Vanderbilt 2.9 58 28.7 71 25.8 41 Appalachian State 2.7 59 29.1 68 26.4 45 Syracuse 2.5 60 32.1 53 29.6 65 Minnesota 2.4 61 25.3 98 22.8 28 Temple 2.3 62 25.6 92 23.3 29 Duke 2.1 63 31 58 28.9 59 Oregon State 2.1 64 28.9 69 26.9 49 West Virginia 1.9 65 32.4 50 30.5 72 Arizona State 1.9 66 37.3 23 35.4 102 Wake Forest 1.7 67 25.5 95 23.7 30 Arizona 1.1 68 32.5 49 31.4 77 Texas Tech -0.1 69 40.2 7 40.4 125 Maryland -0.7 70 25.6 90 26.3 44 Virginia -0.7 71 26.5 85 27.3 52 Cincinnati -1.4 72 25.3 97 26.7 46 Central Florida -1.9 73 24.8 100 26.7 47 Troy -2 74 27.9 77 29.8 69 Boston College -2.1 75 18.4 123 20.6 17 Utah State -2.2 76 27.5 81 29.7 66 Navy -2.3 77 32.6 47 34.9 99 Tulsa -2.4 78 27.4 82 29.8 68 Western Michigan -2.5 79 26.5 86 29 60 Wyoming -3.6 80 29.2 67 32.8 82 Louisiana Tech -3.9 81 33.7 41 37.6 114 Northern Illinois -3.9 82 29.6 65 33.6 93 SMU -4.8 83 30.4 60 35.3 101 Arkansas State -4.8 84 23.1 108 28 55 Illinois -4.9 85 23.9 104 28.7 58 Southern Miss -5.8 86 27.4 83 33.1 87 Middle Tennessee -7.2 87 33.9 39 41.1 127 UTSA -7.3 88 25.5 93 32.8 83 Miami-OH -7.3 89 24.2 102 31.5 78 Eastern Michigan -7.5 90 29.7 63 37.2 112 Old Dominion -7.7 91 25.6 91 33.3 89 Purdue -7.7 92 25.7 89 33.4 90 East Carolina -7.7 93 27.8 78 35.5 104 Bowling Green -8 94 27.7 79 35.6 107 Tulane -8.2 95 18.9 120 27 50 Rutgers -8.2 96 17.2 125 25.4 39 Florida Atlantic -8.3 97 31.4 54 39.7 121 Ball State -8.7 98 28 75 36.6 111 Marshall -8.8 99 21.8 114 30.6 75 Central Michigan -8.8 100 24.7 101 33.5 91 Georgia Southern -9.5 101 21 117 30.5 73 Hawaii -9.8 102 28.4 74 38.2 115 Air Force -10.2 103 31.1 57 41.2 128 Georgia State -10.2 104 18.8 121 29 61 San Jose State -10.5 105 23.7 105 34.1 97 Florida International -10.6 106 25.7 88 36.4 109 Army -10.7 107 21.1 116 31.7 79 Ohio -11.5 108 17 126 28.5 57 Fresno State -11.6 109 22 113 33.6 94 UL-Lafayette -11.8 110 17.3 124 29.1 63 New Mexico -12 111 33.7 42 45.7 130 South Alabama -12 112 22.1 112 34.1 96 Coastal Carolina -12.1 113 25.3 96 37.4 113 Massachusetts -12.5 114 23 109 35.5 105 North Texas -12.6 115 20.4 118 33 85 Nevada -13 116 23.6 106 36.6 110 Idaho -13.3 117 25.8 87 39.2 118 Kansas -13.4 118 22.2 111 35.5 106 UNLV -13.4 119 28.7 72 42.1 129 New Mexico State -14.2 120 25.5 94 39.7 120 UL-Monroe -15.2 121 24.9 99 40.1 124 Kent State -15.6 122 18.7 122 34.2 98 Akron -15.8 123 23.9 103 39.8 122 Connecticut -16.6 124 17 127 33.6 92 UTEP -16.6 125 22.9 110 39.5 119 Rice -17.2 126 21.2 115 38.4 116 Charlotte -19.5 127 19.5 119 39 117 Buffalo -20.4 128 15.1 129 35.5 103 Texas State -23.7 129 16.7 128 40.4 126 UAB -27.7 130 12.3 130 40 123

There are a couple of tiny shifts in the top 15.

Thanks to the return of star safety Derwin James, FSU has crept about half a point ahead of Ohio State for the No. 2 spot, which means Week 1 will feature a matchup of the top two projected teams in the country.

When accounting for players returning from major injuries, I wait until August to add in the numbers from their most recent healthy seasons. This is for a couple reasons. One, I don’t have a full accounting of each team’s injuries until I create each team’s preview, which can happen months after the initial S&P+ rankings publish. Two, there’s more certainty about whether these players are returning healthy. FSU has James returning kicks, so it’s safe to say he’s healthy.

Granted, Alabama is starting out more than a touchdown ahead of FSU — the Tide are as far ahead of the Noles as the Noles are of No. 13 Washington. Still, No. 1 vs. No. 2 is always going to be an exciting thing.

Another slight shift: thanks to the addition of transfer quarterback Jarrett Stidham’s Baylor stats to Auburn’s returning production figures, the Tigers now ease ahead of Penn State by half a point, into the No. 8 spot overall.

The biggest shifts up since February

Air Force (13 spots, from 116th to 103rd),

Memphis (10 spots, from 61st to 51st),

Georgia State (nine spots, from 113th to 104th),

Nebraska (seven spots, from 42nd to 35th),

Houston (seven spots, from 49th to 42nd),

and ECU (seven spots, from 100th to 93rd).

Most of these teams either got players back from injury or are welcoming in transfers in key positions.

The biggest shifts down

Minnesota (14 spots, from 47th to 61st),

Kansas (11 spots, from 107th to 118th),

Oregon State (10 spots, from 54th to 64th),

Michigan State (10 spots, from 54th to 64th),

and North Texas (nine spots, from 106th to 115th).

Most of these teams were either dealt some tough injuries or key transfers.

These numbers will be updated each week.

Check back at SBNation.com after each weekend.