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)

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments782,318874,090864,594861,002868,234909,430
Cash and cash equivalents782,318874,090864,594861,002868,234909,430
Receivables    100  
Total current assets:782,318874,090864,594861,102868,234909,430
Noncurrent Assets
Deferred income tax assets4,7113,3027,96118,00418,97825,971
Total noncurrent assets:4,7113,3027,96118,00418,97825,971
Other undisclosed assets27,524,35226,782,17327,067,39226,454,00425,554,37624,981,002
TOTAL ASSETS:28,311,38127,659,56527,939,94727,333,11026,441,58825,916,403
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt7,956,2158,330,8988,424,5808,034,1757,391,1447,063,602
Total current liabilities:7,956,2158,330,8988,424,5808,034,1757,391,1447,063,602
Noncurrent Liabilities
Long-term debt and lease obligation17,646,27216,668,51316,821,19816,966,02416,675,91916,774,557
Long-term debt, excluding current maturities17,646,27216,668,51316,821,19816,966,02416,675,91916,774,557
Total noncurrent liabilities:17,646,27216,668,51316,821,19816,966,02416,675,91916,774,557
Other undisclosed liabilities1,323,6271,313,5991,401,7841,060,9531,142,502865,896
Total liabilities:26,926,11426,313,01026,647,56226,061,15225,209,56524,704,055
Equity
Equity, attributable to parent, including:889,896851,188797,034776,626736,692717,020
Additional paid in capital130,921130,147130,004128,939128,117127,569
Accumulated other comprehensive loss(35,839)(34,351)(59,862)(50,843)(63,589)(49,484)
Retained earnings794,814755,392726,892698,530672,164638,935
Other undisclosed equity, attributable to parent      
Other undisclosed equity 495,371495,367495,351495,332495,331495,328
Total equity:1,385,2671,346,5551,292,3851,271,9581,232,0231,212,348
TOTAL LIABILITIES AND EQUITY:28,311,38127,659,56527,939,94727,333,11026,441,58825,916,403

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

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Revenues140,511129,283119,057109,05197,51476,632
Net investment income140,513129,292119,032109,02797,51476,632
Cost of revenue (69)(750)(806)  
Provision for loan, lease, and other losses (69)(750)   
Gross profit:140,511129,214118,307108,24597,51476,632
Operating expenses(9,100)(9,420)(7,527)(8,055)(6,919)(7,520)
Other operating income, net
(Noninterest Income, Other Operating Income)
1,2717671,201746651479
Operating income:132,682120,561111,981100,93691,24669,591
Nonoperating income
(Investment Income, Nonoperating)
164,022146,454136,936115,61875,46760,522
Interest and debt expense(294,168)(265,155)(236,214)(194,092)(125,937)(75,534)
Income (loss) from continuing operations before equity method investments, income taxes:2,5361,86012,70322,46240,77654,579
Other undisclosed income from continuing operations before income taxes70,71457,42747,45032,75611,2733,449
Income from continuing operations before income taxes:73,25059,28760,15355,21852,04958,028
Income tax expense(15,113)(12,075)(13,118)(11,800)(10,631)(12,132)
Income from continuing operations:58,13747,21247,03543,41841,41845,896
Income before gain (loss) on sale of properties:41,41845,896
Net income attributable to parent:58,13747,21247,03543,41841,41845,896
Preferred stock dividends and other adjustments(6,792)(6,791)(6,791)(6,791)(6,791)(6,792)
Net income available to common stockholders, diluted:51,34540,42140,24436,62734,62739,104

Comprehensive Income ($ in thousands)

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Net income:58,13747,21247,03543,41841,41845,896
Other comprehensive income (loss)(1,488)25,511(9,019)12,746(14,105)(9,819)
Comprehensive income, net of tax, attributable to parent:56,64972,72338,01656,16427,31336,077

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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