Guarantees - (Tables)

6 Months Ended

Nov. 30, 2021

Guarantees [Abstract]

Schedule of Total Guarantees by Type of Guarantee and Member Class

The following table displays the notional amount of our outstanding guarantee obligations, by guarantee type and by member class, as of November 30, 2021 and May 31, 2021.

Table 11.1: Guarantees Outstanding by Type and Member Class

(Dollars in thousands)	November 30, 2021		May 31, 2021
Guarantee type:
Long-term tax-exempt bonds(1)	$	123,775	$	145,025
Letters of credit(2)	377,738		389,735
Other guarantees	156,468		154,320
Total	$	657,981	$	689,080
Member class:
CFC:
Distribution	$	271,941	$	251,023
Power supply	354,180		415,984
Statewide and associate(3)	8,811		5,523
CFC total	634,932		672,530
NCSC	23,049		16,550
Total	$	657,981	$	689,080

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(1)Represents the outstanding principal amount of long-term variable-rate guaranteed bonds.

(2)Reflects our maximum potential exposure for letters of credit.

(3) Includes CFC guarantees to NCSC and RTFC members totaling $6 million and $3 million as of November 30, 2021 and May 31, 2021, respectively.