Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 182

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 182
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es) on hedging activities due to fair value changes1.05 (0.49)0.49 Unrealized (losses)/gains on trading securities(0.01)0.18 (0.08)Net effects of amortization of premiums/discounts and deferred gains on assets consolidated at fair value— 0.02 — Net effects of terminations or net settlements on financial derivatives(0.14)0.02 1.45 Issuance costs on the retirement of preferred stock(0.15)— — Income tax effect related to reconciling items(0.25)(0.04)(0.65)Sub-total0.80 0.16 2.45 Core Earnings - Diluted EPS$15.64 $15.65 $11.42 Shares used in per share calculation (GAAP and Core Earnings)10,975 10,937 10,883 

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The non-GAAP reconciling items between net income attributable to common stockholders and core earnings are:

1.  Gains on financial derivatives due to fair value changes are presented by two reconciling items in Table 6 above: (a) Gains on undesignated financial derivatives due to fair value changes; and (b) Gains/(losses) on hedging activities due to fair value changes. 

2.  Unrealized (losses)/gains on trading securities. The unrealized (losses)/gains on trading securities are reported on Farmer Mac's consolidated statements of operations, which represent changes during the period in fair values for trading assets remaining on Farmer Mac's balance sheet as of the end of the reporting period. 

3.  The net effects of amortization of premiums/discounts and deferred gains on assets consolidated at fair value. The amount of this non-GAAP reconciling item is the recorded amount of premium, discount, or deferred gain amortization during the reporting period on those assets for which the premium, discount, or deferred gain was based on the application of an accounting principle (e.g., consolidation of variable interest entities) rather than on a cash transaction (e.g., a purchase price premium or discount).

4.  The net effects of terminations or net settlements on financial derivatives. These terminations or net settlements relate to:

•Forward contracts on the debt of other GSEs and futures contracts on U.S. Treasury securities. These contracts are used as a short-term economic hedge