Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 83

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 83
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1,241 Financial derivatives11 37,467 — 37,478 Guarantee Asset— — 5,831 5,831 Total Assets at fair value$905,811 $4,031,516 $5,558,633 $10,495,960 Liabilities:    Financial derivatives$91 $117,040 $— $117,131 Total Liabilities at fair value$91 $117,040 $— $117,131 (1) Level 3 assets represent 19% of total assets and 52% of financial instruments measured at fair value.There were no material assets or liabilities measured at fair value on a non-recurring basis as of December 31, 2024 or 2023.  Transfers in and/or out of the different levels within the fair value hierarchy are based on the fair values of the assets and liabilities as of the beginning of the reporting period. During the years ended December 31, 2024 and 2023, there were no transfers within the fair value hierarchy.

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The following tables present additional information about assets and liabilities measured at fair value on a recurring basis for which Farmer Mac has used significant unobservable inputs to determine fair value.  Net transfers in and/or out of Level 3 are based on the fair values of the assets and liabilities as of the beginning of the reporting period. There were no liabilities measured at fair value using significant unobservable inputs during the years ended December 31, 2024, 2023, and 2022.Table 13.2Level 3 Assets and Liabilities Measured at Fair Value for the Year Ended December 31, 2024Beginning BalancePurchasesSettlementsAllowance for LossesRealized andunrealized (losses)/gains included in IncomeUnrealized gains/(losses)included in OtherComprehensiveIncomeEnding Balance(in thousands)Recurring:Assets:Investment Securities:Available-for-sale:Floating rate auction-rate certificates backed by Government guaranteed student loans$19,082 $— $— $— $— $394 $19,476 Total available-for-sale19,082 — — — — 394 19,476 Farmer Mac Guaranteed Securities:Available-for-sale:AgVantage5,522,712 677,400 (666,476)81 (49,727)21,