Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 125

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 125
---
 tax expense14,000 9,938 12,681 11,970 13,553 13,881 13,475 12,539 12,756 Preferred stock dividends5,666 5,666 5,897 6,792 6,791 6,791 6,792 6,791 6,791 Core earnings$45,966 $43,554 $44,907 $39,777 $43,392 $44,922 $45,188 $42,162 $38,884 Reconciling items:(Losses)/gains on undesignated financial derivatives due to fair value changes$(2,573)$3,084 $(1,064)$(359)$1,683 $(836)$2,921 $2,141 $916 Gains/(losses) on hedging activities due to fair value changes1,099 5,737 205 2,604 3,002 (3,598)3,210 (4,901)(105)Unrealized gains/(losses) on trading assets9 (83)99 (87)(14)(37)1,714 (57)359 Net effects of amortization of premiums/discounts and deferred gains on assets consolidated at fair value28 (39)27 26 31 88 29 29 29 Net effects of terminations or net settlements on financial derivatives(1,070)534 (503)(1,505)(192)(800)(79)583 523 Issuance costs on the retirement of preferred stock— — (1,619)— — — — — — Income tax effect related to reconciling items526 (1,939)260 (143)(947)1,089 (1,638)464 (362)Net income attributable to common stockholders$43,985 $50,848 $42,312 $40,313 $46,955 $40,828 $51,345 $40,421 $40,244 

Item 3.Quantitative and Qualitative Disclosures About Market Risk

Farmer Mac is exposed to market risk from changes in interest rates. Farmer Mac manages this market risk by entering into various financial transactions, including financial derivatives, and by monitoring and 

101

measuring