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Balance Sheet Offsetting
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Balance Sheet Offsetting Balance Sheet Offsetting and Repurchase Agreements
Balance Sheet Offsetting. Certain financial instruments, including resell and repurchase agreements and derivatives, may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements or similar agreements. Our derivative transactions with upstream financial institution counterparties are generally executed under International Swaps and Derivative Association (“ISDA”) master agreements, which include “right of set-off” provisions. In such cases, there is generally a legally enforceable right to offset recognized amounts, and there may be an intention to settle such amounts on a net basis. Nonetheless, we do not generally offset such financial instruments for financial reporting purposes.
Information about financial instruments that are eligible for offset in the consolidated balance sheet as of March 31, 2026, is presented in the following tables.
Gross Amount
Recognized		Gross Amount
Offset		Net Amount
Recognized
March 31, 2026
Financial assets:
Derivatives:
Interest rate contracts$39,143 $— $39,143 
Commodity contracts12,951 — 12,951 
Foreign currency contracts— — — 
Total derivatives52,094 — 52,094 
Resell agreements— — — 
Total$52,094 $— $52,094 
Financial liabilities:
Derivatives:
Interest rate contracts$13,819 $— $13,819 
Commodity contracts132,609 — 132,609 
Foreign currency contracts— — — 
Total derivatives146,428 — 146,428 
Repurchase agreements4,101,707 — 4,101,707 
Total$4,248,135 $— $4,248,135 
Gross Amounts Not Offset
Net Amount
Recognized		Financial
Instruments		CollateralNet
Amount
March 31, 2026
Financial assets:
Derivatives:
Counterparty H$14,876 $(14,876)$— $— 
Counterparty F15,293 (15,293)— — 
Counterparty B7,455 (7,455)— — 
Counterparty E7,876 (4,377)(3,450)49 
Other counterparties6,594 (4,050)(2,346)198 
Total derivatives52,094 (46,051)(5,796)247 
Resell agreements— — — — 
Total$52,094 $(46,051)$(5,796)$247 
Financial liabilities:
Derivatives:
Counterparty H$61,781 $(14,876)$(46,905)$— 
Counterparty F26,915 (15,293)(11,622)— 
Counterparty B20,147 (7,455)(12,692)— 
Counterparty E4,377 (4,377)— — 
Other counterparties33,208 (4,050)(28,566)592 
Total derivatives146,428 (46,051)(99,785)592 
Repurchase agreements4,101,707 — (4,101,707)— 
Total$4,248,135 $(46,051)$(4,201,492)$592 
Information about financial instruments that are eligible for offset in the consolidated balance sheet as of December 31, 2025, is presented in the following tables.
Gross Amount
Recognized		Gross Amount
Offset		Net Amount
Recognized
December 31, 2025
Financial assets:
Derivatives:
Interest rate contracts$38,065 $— $38,065 
Commodity contracts50,272 — 50,272 
Total derivatives88,337 — 88,337 
Resell agreements9,650 — 9,650 
Total$97,987 $— $97,987 
Financial liabilities:
Derivatives:
Interest rate contracts$20,598 $— $20,598 
Commodity contracts1,906 — 1,906 
Total derivatives22,504 — 22,504 
Repurchase agreements4,525,855 — 4,525,855 
Total$4,548,359 $— $4,548,359 
Gross Amounts Not Offset
Net Amount
Recognized		Financial
Instruments		CollateralNet
Amount
December 31, 2025
Financial assets:
Derivatives:
Counterparty H$35,230 $(907)$(31,270)$3,053 
Counterparty F20,242 (290)(19,495)457 
Counterparty B13,619 (1,184)(10,789)1,646 
Counterparty E7,298 (6,418)(220)660 
Other counterparties11,948 (3,503)(7,917)528 
Total derivatives88,337 (12,302)(69,691)6,344 
Resell agreements9,650 — (9,650)— 
Total$97,987 $(12,302)$(79,341)$6,344 
Financial liabilities:
Derivatives:
Counterparty H$907 $(907)$— $— 
Counterparty F290 (290)— — 
Counterparty B1,184 (1,184)— — 
Counterparty E6,418 (6,418)— — 
Other counterparties13,705 (3,503)(10,181)21 
Total derivatives22,504 (12,302)(10,181)21 
Repurchase agreements4,525,855 — (4,525,855)— 
Total$4,548,359 $(12,302)$(4,536,036)$21 
Repurchase Agreements. We utilize securities sold under agreements to repurchase to facilitate the needs of our customers and to facilitate our short-term funding needs. Securities sold under agreements to repurchase are stated at the amount of cash received in connection with these transactions. We monitor collateral levels continuously, and we may be required to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents.
The remaining contractual maturity of repurchase agreements in the consolidated balance sheets as of March 31, 2026 and December 31, 2025, is presented in the following tables.
Remaining Contractual Maturity of the Agreements
Overnight and ContinuousUp to 30 Days30-90 DaysGreater than 90 DaysTotal
March 31, 2026
Repurchase agreements:
U.S. Treasury$1,773,049 $— $— $— $1,773,049 
Residential mortgage-backed securities2,328,658 — — — 2,328,658 
Total borrowings$4,101,707 $— $— $— $4,101,707 
Gross amount of recognized liabilities for repurchase agreements$4,101,707 
Amounts related to agreements not included in offsetting disclosures above$— 
December 31, 2025
Repurchase agreements:
U.S. Treasury$1,829,706 $— $— $— $1,829,706 
Residential mortgage-backed securities2,696,149 — — — 2,696,149 
Total borrowings$4,525,855 $— $— $— $4,525,855 
Gross amount of recognized liabilities for repurchase agreements$4,525,855 
Amounts related to agreements not included in offsetting disclosures above$—