Company: AGM-PH
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000845877-25-000252
Chunk: 16

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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$9,992 $37,591 (1)Represents unrealized gains and losses on sales of available-for-sale securities.(2)Represents amortization of deferred gains related to certain available-for-sale USDA Securities and Farmer Mac Guaranteed USDA Securities.(3)Represents amortization of unrealized gain/loss reported in AOCI prior to the reclassification of certain securities from available-for-sale to held-to-maturity, which occurred at fair value. The unrealized gain/loss will be amortized over the securities' remaining life with no impact on future net income.(4)Relates to the recognition of unrealized gains and losses on cash flow hedges recorded in AOCI.

15

(c)New Accounting Standards

Recently Issued Accounting Guidance, Not Yet Adopted Within Our Consolidated Financial StatementsStandardDescriptionEffect on Consolidated Financial StatementsASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax DisclosuresThe Update provides guidance on improvements to annual income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction.  Additionally, public entities must provide a separate disclosure for any reconciling item that meets a quantitative threshold.  ASU 2023-09 is effective for annual periods beginning after December 15, 2024.  The amendments should be applied on either a prospective or retrospective basis. Early adoption is permitted.Farmer Mac is still assessing the impact of the new accounting standard but does not expect that adoption of the new guidance will have a material impact on Farmer Mac's financial position, results of operations, or cash flows.ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement ExpensesIn November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, requiring public entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted.Farmer Mac is still assessing the impact of the new accounting standard but does not expect that adoption of the new guidance will