Federal Agricultural Mortgage Corporation (AGM) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
1999 K STREET NW, WASHINGTON, DC 20006 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6111 - Federal and Federally-Sponsored Credit Agencies (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 861,002 | 908,785 | 1,033,941 | 604,381 | 425,256 | 302,022 | |||
| Cash and cash equivalents | 861,002 | 908,785 | 1,033,941 | 604,381 | 425,256 | 302,022 | |||
| Receivables | 100 | 100 | 100 | ||||||
| Total current assets: | 861,102 | 908,885 | 1,034,041 | 604,381 | 425,256 | 302,022 | |||
| Noncurrent Assets | |||||||||
| Deferred income tax assets | 18,004 | 15,558 | 18,321 | ✕ | ✕ | ||||
| Total noncurrent assets: | 18,004 | 15,558 | 18,321 | ||||||
| Other undisclosed assets | 26,454,004 | 24,221,048 | 23,303,139 | 21,104,993 | 18,269,072 | 17,490,252 | |||
| TOTAL ASSETS: | 27,333,110 | 25,145,491 | 24,355,501 | 21,709,374 | 18,694,328 | 17,792,274 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Debt | 8,034,175 | 6,986,799 | 10,746,382 | 10,019,082 | 7,757,050 | 8,089,826 | |||
| Total current liabilities: | 8,034,175 | 6,986,799 | 10,746,382 | 10,019,082 | 7,757,050 | 8,089,826 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 16,966,024 | 15,771,734 | 11,049,295 | 9,079,566 | |||||
| Long-term debt, excluding current maturities | 16,966,024 | 15,771,734 | 11,049,295 | 9,079,566 | |||||
| Total noncurrent liabilities: | 16,966,024 | 15,771,734 | 11,049,295 | 9,079,566 | |||||
| Other undisclosed liabilities | 1,060,953 | 1,182,545 | 1,567,347 | 1,811,450 | 10,184,721 | 8,994,302 | |||
| Total liabilities: | 26,061,152 | 23,941,078 | 23,363,024 | 20,910,098 | 17,941,771 | 17,084,128 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 776,626 | 709,116 | 618,536 | 560,190 | 537,129 | 708,146 | |||
| Additional paid in capital | 128,939 | 125,993 | 122,899 | 119,304 | 118,822 | 118,979 | |||
| Accumulated other comprehensive income (loss) | (50,843) | 3,853 | (13,923) | (16,161) | 24,956 | 51,085 | |||
| Retained earnings | 698,530 | 579,270 | 509,560 | 457,047 | 393,351 | 322,704 | |||
| Other undisclosed equity, attributable to parent | 215,378 | ||||||||
| Other undisclosed equity | 495,332 | 495,297 | 373,941 | 239,086 | 215,428 | ||||
| Total equity: | 1,271,958 | 1,204,413 | 992,477 | 799,276 | 752,557 | 708,146 | |||
| TOTAL LIABILITIES AND EQUITY: | 27,333,110 | 25,145,491 | 24,355,501 | 21,709,374 | 18,694,328 | 17,792,274 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 350,369 | 249,006 | 233,749 | 230,001 | 81 | 14,179 | ||
| Principal transactions revenue, net | ✕ | ✕ | (115) | 50 | 326 | 81 | ✕ | |
| Net investment income | 350,420 | 242,582 | 233,699 | 229,675 | ||||
| Financial services revenue | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 14,179 | |
| Cost of revenue | (806) | (8,055) | (3,501) | (335) | (1,758) | |||
| Provision for loan, lease, and other losses | (806) | (8,055) | (3,501) | (335) | ✕ | |||
| Financial services costs | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | (1,758) | |
| Gross profit: | 349,563 | 249,006 | 225,694 | 226,500 | (254) | 12,421 | ||
| Operating expenses | (29,772) | (27,507) | (21,976) | (20,311) | (19,707) | (15,959) | ||
| Other operating income, net (Noninterest Income, Other Operating Income) | 2,551 | 2,069 | 3,487 | 1,904 | 1,377 | 832 | ||
| Operating income (loss): | 322,342 | 223,568 | 207,205 | 208,093 | (18,584) | (2,706) | ||
| Nonoperating income (expense) | 306,400 | 160,199 | 227,908 | 333,896 | (3,694) | 2,501 | ||
| Investment income, nonoperating | 306,400 | 160,199 | 227,445 | 333,896 | (3,687) | 753 | ||
| Gains (losses) on sales of other real estate | 463 | (7) | 1,748 | |||||
| Interest and debt expense | (445,908) | (204,014) | (312,946) | (471,958) | (369,848) | (242,885) | ||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 15,266 | 68,620 | 528,148 | 373,776 | ||||
| Income from continuing operations before equity method investments, income taxes: | 182,834 | 179,753 | 137,433 | 138,651 | 136,022 | 130,686 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 42,845 | (12,140) | ||||||
| Income from continuing operations before income taxes: | 225,679 | 167,613 | 137,433 | 138,651 | 136,022 | 130,686 | ||
| Income tax expense | (47,535) | (35,353) | (28,785) | (29,105) | (27,942) | (46,369) | ||
| Income from continuing operations: | 178,144 | 132,260 | 108,648 | 109,546 | 108,080 | 84,317 | ||
| Income before gain (loss) on sale of properties: | ✕ | 132,260 | 108,648 | 109,546 | 108,080 | 84,317 | ||
| Net income: | 178,144 | 132,260 | 108,648 | 109,546 | 108,080 | 84,317 | ||
| Other undisclosed net income attributable to parent | 165 | |||||||
| Net income attributable to parent: | 178,144 | 132,260 | 108,648 | 109,546 | 108,080 | 84,482 | ||
| Preferred stock dividends and other adjustments | (27,165) | (24,677) | (17,805) | (13,940) | (13,182) | (13,182) | ||
| Other undisclosed net loss available to common stockholders, basic | (1,667) | (1,956) | ||||||
| Net income available to common stockholders, diluted: | 150,979 | 107,583 | 89,176 | 93,650 | 94,898 | 71,300 | ||
Comprehensive Income ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 178,144 | 132,260 | 108,648 | 109,546 | 108,080 | 84,317 | ||
| Other comprehensive income (loss) | (54,696) | 17,776 | 2,238 | (41,117) | (26,156) | 8,274 | ||
| Comprehensive income: | 123,448 | 150,036 | 110,886 | 68,429 | 81,924 | 92,591 | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 165 | |||||||
| Comprehensive income, net of tax, attributable to parent: | 123,448 | 150,036 | 110,886 | 68,429 | 81,924 | 92,756 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.