Federal Agricultural Mortgage Corporation (AGM) Financial Statements (2024 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)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments874,090864,594861,002868,234909,430890,046
Cash and cash equivalents874,090864,594861,002868,234909,430890,046
Receivables   100   
Total current assets:874,090864,594861,102868,234909,430890,046
Noncurrent Assets
Deferred income tax assets3,3027,96118,00418,97825,97124,910
Total noncurrent assets:3,3027,96118,00418,97825,97124,910
Other undisclosed assets26,782,17327,067,39226,454,00425,554,37624,981,00224,874,458
TOTAL ASSETS:27,659,56527,939,94727,333,11026,441,58825,916,40325,789,414
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt8,330,8988,424,5808,034,1757,391,1447,063,6026,569,449
Total current liabilities:8,330,8988,424,5808,034,1757,391,1447,063,6026,569,449
Noncurrent Liabilities
Long-term debt and lease obligation16,668,51316,821,19816,966,02416,675,91916,774,55716,749,709
Long-term debt, excluding current maturities16,668,51316,821,19816,966,02416,675,91916,774,55716,749,709
Total noncurrent liabilities:16,668,51316,821,19816,966,02416,675,91916,774,55716,749,709
Other undisclosed liabilities1,313,5991,401,7841,060,9531,142,502865,8961,277,412
Total liabilities:26,313,01026,647,56226,061,15225,209,56524,704,05524,596,570
Equity
Equity, attributable to parent851,188797,034776,626736,692717,020697,525
Additional paid in capital130,147130,004128,939128,117127,569127,103
Accumulated other comprehensive loss(34,351)(59,862)(50,843)(63,589)(49,484)(39,665)
Retained earnings755,392726,892698,530672,164638,935610,087
Other undisclosed equity495,367495,351495,332495,331495,328495,319
Total equity:1,346,5551,292,3851,271,9581,232,0231,212,3481,192,844
TOTAL LIABILITIES AND EQUITY:27,659,56527,939,94727,333,11026,441,58825,916,40325,789,414

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues129,283119,057109,05197,51476,63267,184
Net investment income129,292119,032109,02797,51476,63267,247
Cost of revenue (69)(750)(806)   
Provision for loan, lease, and other losses (69)(750)    
Gross profit:129,214118,307108,24597,51476,63267,184
Operating expenses(9,420)(7,527)(8,055)(6,919)(7,520)(7,278)
Other operating income, net
(Noninterest Income, Other Operating Income)
7671,201746651479675
Operating income:120,561111,981100,93691,24669,59160,581
Nonoperating income
(Investment Income, Nonoperating)
146,454136,936115,61875,46760,52255,331
Interest and debt expense(265,155)(236,214)(194,092)(125,937)(75,534)(50,345)
Income from continuing operations before equity method investments, income taxes:1,86012,70322,46240,77654,57965,567
Other undisclosed income (loss) from continuing operations before income taxes57,42747,45032,75611,2733,449(4,645)
Income from continuing operations before income taxes:59,28760,15355,21852,04958,02860,922
Income tax expense(12,075)(13,118)(11,800)(10,631)(12,132)(13,085)
Income from continuing operations:47,21247,03543,41841,41845,89647,837
Income before gain (loss) on sale of properties:41,41845,89647,837
Net income attributable to parent:47,21247,03543,41841,41845,89647,837
Preferred stock dividends and other adjustments(6,791)(6,791)(6,791)(6,791)(6,792)(6,791)
Net income available to common stockholders, diluted:40,42140,24436,62734,62739,10441,046

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:47,21247,03543,41841,41845,89647,837
Other comprehensive income (loss)25,511(9,019)12,746(14,105)(9,819)(43,518)
Comprehensive income, net of tax, attributable to parent:72,72338,01656,16427,31336,0774,319

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.

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