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Business Segments - (Tables)
 9 Months Ended
Feb. 28, 2023
Segment Reporting [Abstract]  
Schedule of Segment Presentation for the Consolidated Statements of Operations and Consolidated Balance Sheets The following tables display segment results of operations for the three and nine months ended February 28, 2023 and 2022, assets attributable to each segment as of February 28, 2023 and February 28, 2022 and a reconciliation of total segment amounts to our consolidated total amounts.
Table 14.1: Business Segment Information

 Three Months Ended February 28, 2023
(Dollars in thousands)CFCNCSC and RTFCSegments Total
Reclasses and Adjustments(1)
Intersegment Eliminations(2)
Consolidated Total
Results of operations:   
Interest income$350,914 $17,915 $368,829 $— $(15,537)$353,292 
Interest expense(281,706)(15,540)(297,246)— 15,537 (281,709)
Derivative cash settlements interest income (expense)18,680 (46)18,634 (18,634)— — 
Interest expense(263,026)(15,586)(278,612)(18,634)15,537 (281,709)
Net interest income87,888 2,329 90,217 (18,634)— 71,583 
Provision (benefit) for credit losses11,318 (15)11,303 — 15 11,318 
Net interest income after provision (benefit) for credit losses99,206 2,314 101,520 (18,634)15 82,901 
Non-interest income:
Fee and other income 7,004 828 7,832 — (2,506)5,326 
Derivative gains:
Derivative cash settlements interest income— — — 18,634 — 18,634 
Derivative forward value gains — — — 83,674 — 83,674 
Derivative gains — — — 102,308 — 102,308 
Investment securities losses(1,402)— (1,402)— — (1,402)
Total non-interest income5,602 828 6,430 102,308 (2,506)106,232 
Non-interest expense:
General and administrative expenses(24,570)(2,766)(27,336)— 2,021 (25,315)
Other non-interest expense(297)(471)(768)— 470 (298)
Total non-interest expense(24,867)(3,237)(28,104)— 2,491 (25,613)
Income (loss) before income taxes79,941 (95)79,846 83,674 — 163,520 
Income tax provision— (303)(303)— — (303)
Net income (loss)$79,941 $(398)$79,543 $83,674 $— $163,217 
 Three Months Ended February 28, 2022
(Dollars in thousands)CFCNCSC and RTFCSegments Total
Reclasses and Adjustments(1)
Intersegment Eliminations(2)
Consolidated Total
Results of operations:   
Interest income$283,162 $10,817 $293,979 $— $(8,773)$285,206 
Interest expense(173,654)(8,773)(182,427)— 8,773 (173,654)
Derivative cash settlements interest expense(25,802)(410)(26,212)26,212 — — 
Interest expense(199,456)(9,183)(208,639)26,212 8,773 (173,654)
Net interest income83,706 1,634 85,340 26,212 — 111,552 
Benefit for credit losses12,749 2 12,751 — (2)12,749 
Net interest income after benefit for credit losses96,455 1,636 98,091 26,212 (2)124,301 
Non-interest income:
Fee and other income 5,590 685 6,275 — (2,005)4,270 
Derivative gains:
Derivative cash settlements interest expense— — — (26,212)— (26,212)
Derivative forward value gains — — — 195,492 — 195,492 
Derivative gains — — — 169,280 — 169,280 
Investment securities losses(11,621)— (11,621)— — (11,621)
Total non-interest income(6,031)685 (5,346)169,280 (2,005)161,929 
Non-interest expense:
General and administrative expenses(22,690)(1,984)(24,674)— 1,595 (23,079)
Other non-interest expense(843)(412)(1,255)— 412 (843)
Total non-interest expense(23,533)(2,396)(25,929)— 2,007 (23,922)
Income (loss) before income taxes66,891 (75)66,816 195,492 — 262,308 
Income tax provision— (343)(343)— — (343)
Net income (loss)$66,891 $(418)$66,473 $195,492 $— $261,965 
 Nine Months Ended February 28, 2023
(Dollars in thousands)CFCNCSC and RTFCSegments Total
Reclasses and Adjustments(1)
Intersegment Eliminations(2)
Consolidated Total
Results of operations:   
Interest income$978,150 $42,914 $1,021,064 $— $(36,600)$984,464 
Interest expense(736,618)(36,603)(773,221)— 36,600 (736,621)
Derivative cash settlements interest income (expense)13,090 (440)12,650 (12,650)— — 
Interest expense(723,528)(37,043)(760,571)(12,650)36,600 (736,621)
Net interest income254,622 5,871 260,493 (12,650)— 247,843 
Provision for credit losses(3,806)(1,296)(5,102)— 1,296 (3,806)
Net interest income after provision for credit losses250,816 4,575 255,391 (12,650)1,296 244,037 
Non-interest income:
Fee and other income 18,696 3,442 22,138 — (8,590)13,548 
Derivative gains:
Derivative cash settlements interest income— — — 12,650 — 12,650 
Derivative forward value gains— — — 330,035 — 330,035 
Derivative gains— — — 342,685 — 342,685 
Investment securities losses(5,574)— (5,574)— — (5,574)
Total non-interest income13,122 3,442 16,564 342,685 (8,590)350,659 
Non-interest expense:
General and administrative expenses(76,183)(7,976)(84,159)— 6,078 (78,081)
Other non-interest expense(973)(1,218)(2,191)— 1,216 (975)
Total non-interest expense(77,156)(9,194)(86,350)— 7,294 (79,056)
Income (loss) before income taxes186,782 (1,177)185,605 330,035 — 515,640 
Income tax provision— (785)(785)— — (785)
Net income (loss)$186,782 $(1,962)$184,820 $330,035 $— $514,855 
February 28, 2023
CFCNCSC and RTFCSegments Total
Reclasses and Adjustments(1)
Intersegment Eliminations(2)
Consolidated Total
Assets:    
Total loans outstanding$32,355,116 $1,470,160 $33,825,276 $— $(1,456,045)$32,369,231 
Deferred loan origination costs12,598 — 12,598 — — 12,598 
Loans to members32,367,714 1,470,160 33,837,874 — (1,456,045)32,381,829 
Less: Allowance for credit losses(56,297)(4,031)(60,328)— 4,031 (56,297)
Loans to members, net32,311,417 1,466,129 33,777,546 — (1,452,014)32,325,532 
Other assets1,661,392 98,919 1,760,311 — (84,331)1,675,980 
Total assets$33,972,809 $1,565,048 $35,537,857 $— $(1,536,345)$34,001,512 
 Nine Months Ended February 28, 2022
(Dollars in thousands)CFCNCSC and RTFCSegments Total
Reclasses and Adjustments(1)
Intersegment Eliminations(2)
Consolidated Total
Results of operations:
Interest income$845,600 $32,243 $877,843 $— $(26,217)$851,626 
Interest expense(522,027)(26,217)(548,244)— 26,217 (522,027)
Derivative cash settlements interest expense(78,480)(1,247)(79,727)79,727 — — 
Interest expense(600,507)(27,464)(627,971)79,727 26,217 (522,027)
Net interest income245,093 4,779 249,872 79,727 — 329,599 
Benefit for credit losses12,146 2,859 15,005 — (2,859)12,146 
Net interest income after benefit for credit losses257,239 7,638 264,877 79,727 (2,859)341,745 
Non-interest income:
Fee and other income (expense)17,006 (243)16,763 — (3,721)13,042 
Derivative gains:
Derivative cash settlements interest expense— — — (79,727)— (79,727)
Derivative forward value gains— — — 122,930 — 122,930 
Derivative gains— — — 43,203 — 43,203 
Investment securities losses(18,190)— (18,190)— — (18,190)
Total non-interest income(1,184)(243)(1,427)43,203 (3,721)38,055 
Non-interest expense:
General and administrative expenses(69,060)(6,110)(75,170)— 4,786 (70,384)
Other non-interest expense(1,530)(1,794)(3,324)— 1,794 (1,530)
Total non-interest expense(70,590)(7,904)(78,494)— 6,580 (71,914)
Income (loss) before income taxes185,465 (509)184,956 122,930 — 307,886 
Income tax provision— (524)(524)— — (524)
Net income (loss)$185,465 $(1,033)$184,432 $122,930 $— $307,362 
February 28, 2022
CFCNCSC and RTFCSegment Total
Reclasses and Adjustments(1)
Intersegment Eliminations(2)
Consolidated Total
Assets:    
Total loans outstanding$29,487,207 $1,187,887 $30,675,094 $— $(1,166,731)$29,508,363 
Deferred loan origination costs12,018 12,018 — — 12,018 
Loans to members29,499,225 1,187,887 30,687,112 — (1,166,731)29,520,381 
Less: Allowance for credit losses(73,386)(3,210)(76,596)— 3,210 (73,386)
Loans to members, net29,425,839 1,184,677 30,610,516 — (1,163,521)29,446,995 
Other assets1,027,433 96,117 1,123,550 — (87,023)1,036,527 
Total assets$30,453,272 $1,280,794 $31,734,066 $— $(1,250,544)$30,483,522 
____________________________
(1)Consists of (i) the reclassification of net periodic derivative settlement interest expense amounts, which we report as a component of interest expense for business segment reporting purposes but is included in derivatives gains (losses) in our consolidated total results and (ii) derivative forward value gains and losses, which we exclude from our business segment results but is included in derivatives gains (losses) in our consolidated total results.
(2)Consists of intercompany borrowings payable by NCSC and RTFC to CFC and the interest related to those borrowings, management fees paid by NCSC and RTFC to CFC and other intercompany amounts, all of which are eliminated in consolidation.