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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Comprehensive Income        
Net income $ 20,281,000 $ 21,841,000 $ 55,925,000 $ 78,602,000
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax [Abstract]        
Unrealized holding gains/(losses) on available-for-sale securities (1) 2,070,000 [1] (8,675,000) [1] 46,612,000 [1] (35,053,000) [1]
(Losses)/gains on sale of available-for-sale investment securities (4) (258,000) [2] 0 [2] (155,000) [2] 1,997,000 [2]
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax [Abstract]        
Unrealized gains/(losses) on cash flow hedges (2) 30,000 [3] 0 [3] (99,000) [3] 0 [3]
Gains/(losses) on financial derivatives and hedging activities (3) 3,131,000 [4] 3,087,000 [4] 9,338,000 [4] 9,506,000 [4]
Other income (5) 70,000 [5] 130,000 [5] 48,000 [5] 585,000 [5]
Other comprehensive (loss)/income (843,000) (11,892,000) 37,282,000 (47,141,000)
Comprehensive income 19,438,000 9,949,000 93,207,000 31,461,000
Less: Comprehensive income attributable to noncontrolling interest - preferred stock dividends 5,412,000 5,547,000 16,778,000 16,641,000
Comprehensive income attributable to Farmer Mac 14,026,000 4,402,000 76,429,000 14,820,000
Other Comprehensive Income (Loss), Available-for-sale Securities, Tax [Abstract]        
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax 1,100,000 (4,700,000) 25,100,000 (18,900,000)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax 100,000 0 100,000 (1,100,000)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax Effect [Abstract]        
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax 16,000 0 (100,000) 0
financial derivatives and hedging activities [Member]
       
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax Effect [Abstract]        
Tax effects of reclassification adjustment for gains included in net income, tax (1,700,000) (1,700,000) (5,000,000) (5,100,000)
Other Income [Member]
       
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax Effect [Abstract]        
Tax effects of reclassification adjustment for gains included in net income, tax $ (38,000) $ (100,000) $ (26,000) $ (300,000)
[1] Presented net of income tax expense of $1.1 million and benefit of $4.7 million for the three months ended September 30, 2014 and 2013, respectively, and income tax expense of $25.1 million and benefit of $18.9 million for the nine months ended September 30, 2014 and 2013, respectively.
[2] Represents realized gains on sales of available-for-sale investment securities. Presented net of income tax expense of $0.1 million for the three months ended September 30, 2014. There were no sales of available-for-sale investment securities for the three months ended September 30, 2013. Presented net of income tax expense of $0.1 million and tax benefit of $1.1 million for the nine months ended September 30, 2014 and 2013, respectively.
[3] Presented net of income tax expense of $16,000 for the three months ended September 30, 2014 and tax benefit of $0.1 million for the nine months ended September 30, 2014.
[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 September 30, 2014 and 2013, and tax benefit of $5.0 million and $5.1 million for the nine months ended September 30, 2014 and 2013, respectively.
[5] Represents amortization of deferred gains related to certain available-for-sale USDA Securities and Farmer Mac Guaranteed Securities. Presented net of income tax benefit of $38,000 and $0.1 million for the three months ended September 30, 2014 and 2013, respectively, and income tax benefit of $26,000 and $0.3 million for the nine months ended September 30, 2014 and 2013, respectively.