Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 51

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 51
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 accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships as of December 31, 2024 and 2023:

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Table 6.3Hedged Items in Fair Value RelationshipCarrying Amount of Hedged Assets/(Liabilities)Cumulative Amount of Fair Value Hedging Adjustments included in the Carrying Amount of the Hedged Assets/(Liabilities)December 31, 2024December 31, 2023December 31, 2024December 31, 2023(in thousands)Investment securities, Available-for-Sale, at fair value(1)$1,477,880 $1,251,386 $(117,137)$(88,635)Farmer Mac Guaranteed Securities, Available-for-Sale, at fair value(2)5,478,484 5,497,948 (307,358)(257,436)Loans held for investment, at amortized cost1,816,738 1,699,361 (372,444)(305,592)Notes Payable(3)(11,899,049)(13,350,111)148,999 250,418 (1)Amortized cost of $1.6 billion and $1.4 billion as of December 31, 2024 and 2023, respectively.(2)Amortized cost of $5.8 billion as of both December 31, 2024 and 2023.(3)Carrying amount represents amortized cost.The following tables present the fair value of financial assets and liabilities, based on the terms of Farmer Mac's master netting arrangements as of December 31, 2024 and 2023:Table 6.4December 31, 2024Gross Amount RecognizedGross Amounts offset in the Consolidated Balance SheetNet Amount Presented in the Consolidated Balance SheetGross Amounts Not Offset in the Consolidated Balance SheetNetting AdjustmentsFinancial instruments pledgedCash CollateralNet Amount(1)(in thousands)Assets:Uncleared derivatives$22,759 $— $22,759 $(22,061)$— $(652)$46 Cleared derivatives5,492 (462)5,030 — (5,030)— — Total$28,251 $(462)$27,789 $(22,061)$(5,030)$(652)$46 Liabilities:Unc