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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Comprehensive Income        
Net income $ 25,339,000 $ 28,332,000 $ 43,953,000 $ 35,644,000
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax [Abstract]        
Unrealized holding (losses)/gains on available-for-sale securities(1) [1] (26,114,000) 10,301,000 13,056,000 44,542,000
Gains on sale of available-for-sale investment securities(4) [2] 0 93,000 4,000 103,000
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax [Abstract]        
Unrealized gains/(losses) on cash flow hedges(2) [3] 930,000 (61,000) 769,000 (129,000)
Other comprehensive (loss)/income (28,450,000) 6,969,000 7,200,000 38,125,000
Comprehensive (loss)/income (3,111,000) 35,301,000 51,153,000 73,769,000
Less: Comprehensive loss/(income) attributable to non-controlling interest 119,000 (5,819,000) (5,235,000) (11,366,000)
Comprehensive (loss)/income attributable to Farmer Mac (2,992,000) 29,482,000 45,918,000 62,403,000
Other Comprehensive Income (Loss), Available-for-sale Securities, Tax [Abstract]        
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax (14,100,000) 5,500,000 7,000,000 24,000,000
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax 0 (50,000) (2,000) (55,000)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax Effect [Abstract]        
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax 500,000 (33,000) 400,000 (69,000)
financial derivatives and hedging activities [Member]        
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax [Abstract]        
Other Comprehensive Income/(Loss), Reclassification Adjustment, net of tax [4] (3,219,000) (3,106,000) (6,379,000) (6,207,000)
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) (3,400,000) (3,300,000)
Other Income [Member]        
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax [Abstract]        
Other Comprehensive Income/(Loss), Reclassification Adjustment, net of tax [5] (47,000) (72,000) (242,000) 22,000
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax Effect [Abstract]        
Tax effects of reclassification adjustment for gains included in net income, tax $ (25,000) $ (39,000) $ (100,000) $ 12,000
[1] Presented net of income tax benefit of $14.1 million and expense of $5.5 million, for the three months ended June 30, 2015 and 2014, respectively, and income tax expense of $7.0 million and $24.0 million for the six months ended June 30, 2015 and 2014, respectively.
[2] Represents realized gains on sales of available-for-sale investment securities. There were no sales of available-for-sale investment securities for the three months ended June 30, 2015. Presented net of income tax benefit of $50,000 for the three months ended June 30, 2014, and income tax benefit of $2,000 and $55,000 for the six months ended June 30, 2015 and 2014, respectively.
[3] Presented net of income tax expense of $0.5 million and benefit of $33,000 for the three months ended June 30, 2015 and 2014, respectively, and income tax expense of $0.4 million and benefit of $69,000 for the six months ended June 30, 2015 and 2014, 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 June 30, 2015 and 2014, respectively, and tax benefit of $3.4 million and $3.3 million for the six months ended June 30, 2015 and 2014, respectively.
[5] Represents amortization of deferred gains related to certain available-for-sale USDA Securities and Farmer Mac Guaranteed USDA Securities. Presented net of income tax benefit of $25,000 and $39,000 for the three months ended June 30, 2015 and 2014, respectively, and income tax benefit of $0.1 million and expense of $12,000 for the six months ended June 30, 2015 and 2014, respectively.