Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 242

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 242
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 consolidated Farmer Mac Guaranteed Securities.  

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(3)Reflects reconciling adjustments for the reclassification to exclude expenses related to interest rate swaps not designated as hedges and terminations or net settlements on financial derivatives, and reconciling adjustments to exclude fair value adjustments on financial derivatives and trading assets and the recognition of deferred gains over the estimated lives of certain Farmer Mac Guaranteed Securities and USDA Securities.

(4)Includes the tax impact of non-GAAP reconciling items between net income attributable to common stockholders and core earnings.

Table 7Reconciliation of GAAP Basic Earnings Per Share to Core Earnings - Basic Earnings Per Share  For the Three Months Ended  March 31, 2025March 31, 2024(in thousands, except per share amounts)GAAP - Basic EPS$4.04 $4.33 Less reconciling items:(Losses)/gains on undesignated financial derivatives due to fair value changes (see Table 13)(0.23)0.16 Gains on hedging activities due to fair value changes0.10 0.28 Unrealized gains/(losses) on trading securities— — Net effects of amortization of premiums/discounts and deferred gains on assets consolidated at fair value— — Net effects of terminations or net settlements on financial derivatives(0.10)(0.02)Income tax effect related to reconciling items0.05 (0.09)Sub-total(0.18)0.33 Core Earnings - Basic EPS$4.22 $4.00 Shares used in per share calculation (GAAP and Core Earnings)10,896 10,847 

Reconciliation of GAAP Diluted Earnings Per Share to Core Earnings - Diluted Earnings Per Share  For the Three Months Ended  March 31, 2025March 31, 2024(in thousands, except per share amounts)GAAP - Diluted EPS$4.01 $4.28 Less reconciling items:(Losses)/gains on undesignated financial derivatives due to fair value changes (see Table 13)(0.23)0.15 Gains on hedging activities due to fair value changes0.10 0.28 Unrealized gains/(losses) on trading securities— — Net effects of amortization of premiums/discounts and deferred gains on assets consolidated at fair value— —