Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 93

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 93
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2,483 85,466 (6,758)255,529 Guarantee and commitment fees(3)16,718 139 1,187 51 49 — — 18,144 Other income/(expense)1,420 261 — — — — — 1,681 (Provision for)/release of losses(1,216)(2,136)3,726 (705)(494)— 19 (806)Operating expenses(1)(23,332)(5,629)(3,198)(2,009)(1,690)(6,798)(1,950)(44,606)Income tax (expense)/benefit(25,756)(4,587)(2,819)(357)(73)(16,521)1,825 (48,288)Segment core earnings$96,891 $17,257 $10,607 $1,341 $275 $62,147 $(6,864)$181,654 Reconciliation to net income:Net effects of derivatives and trading securities$33,715 Unallocated (expense)/income(37,978)Income tax effect related to reconciling items753 Net income$178,144 Total Assets:Total on- and off-balance sheet segment assets at principal balance$17,728,792 $1,603,507 $6,042,996 $316,617 $230,170 $— $— $25,922,082 Off-balance sheet assets under management(3,945,557)Unallocated assets5,356,585 Total assets on the consolidated balance sheets$27,333,110 (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 "Gains 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