Guarantees (Tables)

9 Months Ended

Feb. 28, 2026

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 February 28, 2026 and May 31, 2025.

Table 11.1: Guarantees Outstanding by Type and Member Class

(Dollars in thousands)	February 28, 2026		May 31, 2025
Guarantee type:
Long-term tax-exempt bonds(1)	$	48,455	$	48,455
Letters of credit(2)	911,430		978,492
Other guarantees	185,842		183,659
Total	$	1,145,727	$	1,210,606
Member class:
CFC:
Distribution	$	488,623	$	506,834
Power supply	509,540		599,766
Statewide and associate(3)	47,550		43,442
CFC total	1,045,713		1,150,042
NCSC electric	100,014		60,564
Total	$	1,145,727	$	1,210,606

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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, which also includes interest due, if any.

(3)Includes CFC guarantees to NCSC telecom members totaling $40 million and $42 million as of February 28, 2026 and May 31, 2025, respectively.