Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 111

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 111
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1)On-balance sheet280,297 288,879 Unfunded loan commitmentsOff-balance sheet225,734 145,377 Total Corporate AgFinance$1,887,705 $1,693,979 Total Agricultural Finance$20,494,673 $20,502,780 Infrastructure Finance:Power & Utilities:LoansOn-balance sheet$2,886,576 $2,616,359 AgVantage Securities(1)On-balance sheet3,521,143 3,898,468 LTSPCs and unfunded loan commitmentsOff-balance sheet401,647 464,743 Total Power & Utilities$6,809,366 $6,979,570 Broadband Infrastructure:LoansOn-balance sheet$622,207 $478,118 Unfunded loan commitmentsOff-balance sheet180,259 23,035 Total Broadband Infrastructure$802,466 $501,153 Renewable Energy:LoansOn-balance sheet$1,265,700 $440,286 Unfunded loan commitmentsOff-balance sheet150,825 47,235 Total Renewable Energy$1,416,525 $487,521 Total Infrastructure Finance$9,028,357 $7,968,244 Total$29,523,030 $28,471,024 

(1)A type of Farmer Mac Guaranteed Security.

(2)An interest-only Farmer Mac Guaranteed Security retained as part of a structured securitization.

(3)Other categories of Farmer Mac Guaranteed Securities that were sold by Farmer Mac to third parties.

9

Farmer Mac conducts its business within two lines of business that consist of seven operating segments: Farm & Ranch, Corporate AgFinance, Power & Utilities, Broadband Infrastructure, Renewable Energy, Funding, and Investments. Prior to fourth quarter 2024 the Power & Utilities segment was reported as the Rural Utilities segment that also included the financial results of Broadband Infrastructure loans. Starting in fourth quarter 2024, Farmer Mac renamed the Rural Utilities segment as Power & Utilities and separately reported the results of Broadband Infrastructure. All prior period information has been recast to reflect this new alignment of Farmer Mac's operating segments. For more financial information about Farmer Mac's reportable operating segments, see Note 2(q) and Note 14 to the consolidated financial statements. The following sections describe Farmer Mac's activities under the Agricultural Finance and Infrastructure