Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 7

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 7
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GRICULTURAL MORTGAGE CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

For the Years Ended December 31, 202420232022 (in thousands)Net income$207,193 $200,003 $178,144 Other comprehensive income/(loss):Net unrealized gains/(losses) on available-for-sale securities 39,078 59,640 (137,506)Net changes in held-to-maturity securities(636)(31,750)259 Net unrealized (losses)/gains on cash flow hedges(3,002)(14,348)68,012 Other comprehensive income/(loss) before tax35,440 13,542 (69,235)Income tax (expense)/benefit related to other comprehensive income/(loss)(7,442)(2,844)14,539 Other comprehensive income/(loss) net of tax27,998 10,698 (54,696)Comprehensive income$235,191 $210,701 $123,448 

The accompanying notes are an integral part of these consolidated financial statements.

119

FEDERAL AGRICULTURAL MORTGAGE CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF EQUITY

AccumulatedAdditionalOtherPreferred StockCommon StockPaid-InComprehensiveRetainedTotalSharesAmountSharesAmountCapitalIncome/(Loss)EarningsEquity(in thousands)Balance as of December 31, 202119,980 $484,531 10,766 $10,766 $125,993 $3,853 $588,557 $1,213,700 Net Income— — — — — — 178,144 178,144 Other comprehensive loss, net of tax— — — — — (54,696)— (54,696)Cash dividends:Preferred stock— — — — — — (27,165)(27,165)Common stock (cash dividend of $0.95 per share)— — — — — — (41,006)(41,006)Issuance of Class C Common Stock— — 35 35 190 — — 225 Stock-based compensation cost— — — — 4,625 — — 4,625