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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Net income $ 7,312,000 $ 22,588,000
Unrealized holding gains on available-for-sale securities (1) 34,241,000 [1] 21,812,000 [1]
Unrealized losses on cash flow hedges (2) (68,000) [2] 0 [2]
Gains on sale of available-for-sale investment securities (4) (10,000) [3] (1,000) [3]
Comprehensive income 38,468,000 40,978,000
Less: Comprehensive income attributable to noncontrolling interest - preferred stock dividends (5,547,000) (5,547,000)
Comprehensive income attributable to Farmer Mac 32,921,000 35,431,000
Other Comprehensive Income, Unrealized Holding Gain on Securities Arising During Period, Tax 18,400,000 11,700,000
Other Comprehensive Income, Unrealized Gain on Derivatives Arising During Period, Tax (37,000)  
Other Comprehensive Income, Reclassification Adjustment for Sale of Securities Included in Net Income, Tax (5,000) (1,000)
Accumulated Other Comprehensive Income (Loss) [Member]
   
Other comprehensive income 31,156,000 18,390,000
Financial derivatives and hedging activities [Member]
   
(Losses)/gains on financial derivatives and hedging activities (3) (3,101,000) [4] (3,207,000) [4]
Tax effects of reclassification adjustment for gains included in net income, tax (1,700,000) (1,700,000)
Other income [Member]
   
Other income (5) (94,000) [5] 214,000 [5]
Tax effects of reclassification adjustment for gains included in net income, tax $ 100,000 $ (100,000)
[1] Presented net of income tax expense of $18.4 million and $11.7 million for the three months ended March 31, 2014 and 2013, respectively.
[2] Presented net of income tax benefit of $37,000 for the three months ended March 31, 2014.
[3] Represents realized gains on sales of available-for-sale investment securities. Presented net of income tax benefit of $5,000 and $1,000 for the three months ended March 31, 2014 and 2013, respectively.
[4] Relates to the amortization of the unrealized gains on the hedged items prior to application of hedge accounting. Presented net of income tax benefit of $1.7 million for both the three months ended March 31, 2014 and 2013.
[5] Represents amortization of deferred gains related to certain available-for-sale USDA Securities and Farmer Mac Guaranteed Securities. Presented net of income tax expense of $0.1 million and tax benefit of $0.1 million for the three months ended March 31, 2014 and 2013, respectively.