Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 130

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 130
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 three months ended March 31, 2025 and 2024, SARs and restricted stock units of 58,539 and 49,371, respectively, were outstanding but not included in the computation of diluted earnings per share of common stock because they were anti-dilutive. For the three months ended March 31, 2025 and 2024, contingent shares of unvested restricted stock units of 29,507 and 29,918, respectively, were outstanding but not included in the computation of diluted earnings per share of common stock because performance conditions had not yet been met.

(b)Comprehensive Income

Comprehensive income represents all changes in stockholders' equity except those resulting from investments by or distributions to stockholders, and is comprised of net income and unrealized gains and losses on available-for-sale securities, certain held-to-maturity securities transferred from the available-for-sale classification, and cash flow hedges, net of related taxes.   

10

The following table presents the changes in accumulated other comprehensive income ("AOCI"), net of tax, by component for the three months ended March 31, 2025 and 2024.Table 1.3As of March 31, 2025As of March 31, 2024Available-for-Sale SecuritiesHeld-to-Maturity SecuritiesCash Flow HedgesTotalAvailable-for-Sale SecuritiesHeld-to-Maturity SecuritiesCash Flow HedgesTotal(in thousands)For the Three Months Ended:Beginning Balance$(37,575)$(9,226)$34,654 $(12,147)$(68,447)$(8,724)$37,026 $(40,145)Other comprehensive income/(loss) before reclassifications17,194 — (3,591)13,603 31,565 — 9,256 40,821 Amounts reclassified from AOCI(3)(239)(3,022)(3,264)(4)(500)(4,290)(4,794)Net comprehensive income/(loss)17,191 (239)(6,613)10,339 31,561 (500)4,966 36,027 Ending Balance$(20,384)$(9,465)$28,041 $(1,808)$(36,886)$(9,224)$41,992 $(4,118)The following table presents other comprehensive income activity, the impact on net income of amounts reclassified from each component of AOCI, and the