Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 248

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 248
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916 9,100 9,420 7,527 8,055 Regulatory fees1,000 725 725 725 725 831 831 835 832 Total operating expenses29,093 24,587 24,469 27,237 25,164 24,034 24,188 23,713 20,992 Net earnings59,158 63,485 58,539 63,736 65,594 65,455 61,492 58,431 52,414 Income tax expense9,938 12,681 11,970 13,553 13,881 13,475 12,539 12,756 11,210 Preferred stock dividends5,666 5,897 6,792 6,791 6,791 6,792 6,791 6,791 6,791 Core earnings$43,554 $44,907 $39,777 $43,392 $44,922 $45,188 $42,162 $38,884 $34,413 Reconciling items:Gains/(losses) on undesignated financial derivatives due to fair value changes$3,084 $(1,064)$(359)$1,683 $(836)$2,921 $2,141 $916 $1,596 Gains/(losses) on hedging activities due to fair value changes5,737 205 2,604 3,002 (3,598)3,210 (4,901)(105)(148)Unrealized (losses)/gains on trading assets(83)99 (87)(14)(37)1,714 (57)359 31 Net effects of amortization of premiums/discounts and deferred gains on assets consolidated at fair value(39)27 26 31 88 29 29 29 57 Net effects of terminations or net settlements on financial derivatives534 (503)(1,505)(192)(800)(79)583 523 1,268 Issuance costs on the retirement of preferred stock— (1,619)— — — — — — — Income tax effect related to reconciling items(1,939)260 (143)(947)1,089 (1,