Company: AGM-PH
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000845877-25-000252
Chunk: 135

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 135
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63,736 65,594 65,455 Income tax expense11,933 10,114 14,000 9,938 12,681 11,970 13,553 13,881 13,475 Preferred stock dividends6,303 5,667 5,666 5,666 5,897 6,792 6,791 6,791 6,792 Core earnings$49,622 $47,365 $45,966 $43,554 $44,907 $39,777 $43,392 $44,922 $45,188 Reconciling items:Gains/(losses) on undesignated financial derivatives due to fair value changes$882 $(639)$(2,573)$3,084 $(1,064)$(359)$1,683 $(836)$2,921 (Losses)/gains on hedging activities due to fair value changes(137)2,709 1,099 5,737 205 2,604 3,002 (3,598)3,210 Unrealized (losses)/gains on trading assets(4)(65)9 (83)99 (87)(14)(37)1,714 Net effects of amortization of premiums/discounts and deferred gains on assets consolidated at fair value26 25 28 (39)27 26 31 88 29 Net effects of terminations or net settlements on financial derivatives(1,934)255 (1,070)534 (503)(1,505)(192)(800)(79)Issuance costs on the retirement of preferred stock— — — — (1,619)— — — — Income tax effect related to reconciling items245 (480)526 (1,939)260 (143)(947)1,089 (1,638)Net income attributable to common stockholders$48,700 $49,170 $43,985 $50,848 $42,312 $40,313 $46,955 $40,828 $51,345 

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Item 3.Quantitative and Qualitative Disclosures About Market Risk

Farmer Mac is exposed to market risk from changes in interest rates. Farmer Mac manages this market risk by entering