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

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 21
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 Black-Scholes option pricing model. The cost is recognized over the period during which an employee is required to provide service in exchange for the award. For performance-based grants, Farmer Mac recognizes the grant-date fair value over the vesting period as long as it remains probable that the performance conditions will be met. If the service or performance conditions are not met, Farmer Mac reverses previously recognized compensation expense upon forfeiture.Farmer Mac recognized $8.1 million, $6.8 million, and $4.6 million of compensation expense related to SARs and non-vested restricted stock unit awards for the years ended December 31, 2024, 2023, and 2022, respectively.

(l)Comprehensive Income

Comprehensive income represents all changes in stockholders' equity except those resulting from investments by or distributions to stockholders, and is comprised of net income and unrealized gains and losses on available-for-sale securities, certain held-to-maturity securities transferred from the available-for-sale classification, and cash flow hedges, net of related taxes.   

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The following table presents the changes in accumulated other comprehensive income ("AOCI"), net of tax, by component for the years ended December 31, 2024, 2023, and 2022.Table 2.2Available-for-Sale SecuritiesHeld-to-Maturity SecuritiesCash Flow HedgesTotal(in thousands)Balance as of January 1, 2022$(6,932)$16,153 $(5,368)$3,853 Other comprehensive (loss)/income before reclassifications(108,624)— 54,688 (53,936)Amounts reclassified from AOCI(5)204 (959)(760)Net comprehensive (loss)/income(108,629)204 53,729 (54,696)Balance as of December 31, 2022$(115,561)$16,357 $48,361 $(50,843)Other comprehensive income/(loss) before reclassifications47,114 (25,199)4,973 26,888 Amounts reclassified from AOCI— 118 (16,308)(16,190)Net comprehensive income/(loss)47,114 (25,081)(11,335)10,698 Balance as of December 31, 2023$(68,447)$(8,724)$37,026 $(40,145)Other comprehensive income before reclassifications