Company: AGM-PH
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000845877-25-000252
Chunk: 60

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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106 187 — — 4,997 Other income/(expense)1,176 39 — — — — 10 1,225 Release of/(provision for) losses10 (1,779)(196)(955)(337)— (1)(3,258)Operating expenses(1)(6,180)(1,893)(1,009)(887)(1,204)(2,354)(638)(14,165)Income tax (expense)/benefit(7,364)(616)(801)(222)(515)(5,997)(66)(15,581)Segment core earnings$27,701 $2,316 $3,011 $836 $1,941 $22,561 $248 $58,614 Reconciliation to net income:Net effects of derivatives and trading securities$(1,263)Unallocated (expense)/income(10,683)Income tax effect related to reconciling items3,160 Net income$49,828 Total Assets:Total on- and off-balance sheet segment assets at principal balance$18,090,374 $1,842,780 $6,794,435 $645,706 $1,095,008 $— $— $28,468,303 Off-balance sheet assets under management(4,562,819)Unallocated assets6,709,737 Total assets on the Consolidated Balance Sheets$30,615,221 (1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.(2)Includes the amortization of premiums and discounts on assets consolidated at fair value, originally included in interest income, to reflect core earnings amounts; the reclassification of interest expense related to interest rate swaps not designated as hedges, which are included in "Losses on financial derivatives" on the consolidated financial statements, to determine the effective funding cost for each operating segment; and excludes the fair value changes of financial derivatives and the corresponding assets or liabilities designated in fair value hedge accounting relationships.(3)Includes the reclassification of interest income and interest expense from consolidated trusts owned by third parties to guarantee and commitment fees, to reflect management's view that the net interest income Farmer Mac earns is effectively a guarantee fee.  

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Core Earnings by Business SegmentFor the Nine Months Ended September 30, 2025Agricultural FinanceInfrastructure FinanceTreasuryFarm &