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Business Segment Reporting - Core Earnings - Business Segments (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Dec. 31, 2016
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income $ 39,731 $ 34,358 $ 76,802 $ 67,998  
Less: reconciling adjustments(1)(2)(3) 0 [1],[2],[3] 0 [4],[5],[6] 0 [7],[8],[9] 0 [10],[11],[12]  
Net Effective Spread 0 0 0 0  
Guaranty Fee Income 3,472 [3] 3,655 [6] 7,316 [9] 7,281 [12]  
Other Non-Interest Income (Expense), Excluding Guarantee and Commitment Fees 272 [2],[13] (3,889) [5],[14] 3,224 [8],[15] (10,221) [11],[16]  
Non-interest income/(loss) 3,744 (234) 10,540 (2,940)  
Provision for loan losses (327) (364) (964) (413)  
Provision for Other Credit Losses 139 94 (54) 108  
Noninterest Expense, Excluding Loan, Lease and Other Losses (11,251) (9,980) (21,993) (19,932)  
Non-interest expense 11,390 [17] 10,074 [18] 21,939 [19] 20,040 [20]  
Income Tax Expense (Benefit) 11,124 8,400 21,910 15,735  
Net income 20,634 15,286 42,529 28,870  
Net income 31,758 23,686 64,439 44,605  
Preferred Stock Dividends, Income Statement Impact (3,296) (3,296) (6,591) (6,591)  
Less: Net loss attributable to non-controlling interest 150 16 165 44  
Net Income (Loss) Available to Common Stockholders, Basic 17,488 12,006 36,103 22,323  
Segment Reporting Information, Additional Information [Abstract]          
Total Assets 17,267,385 16,823,190 17,267,385 16,823,190 $ 15,606,020
On and Off Balance Sheet Program Assets, At Principal Balance 18,258,858 17,116,536 18,258,858 17,116,536  
Farm & Ranch [Member]          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 13,338 11,606 26,092 22,733  
Less: reconciling adjustments(1)(2)(3) (2,007) [1],[2],[3] (1,731) [4],[5],[6] (4,077) [7],[8],[9] (3,397) [10],[11],[12]  
Net Effective Spread 11,331 9,875 22,015 19,336  
Guaranty Fee Income 4,191 [3] 3,965 [6] 8,486 [9] 7,874 [12]  
Other Non-Interest Income (Expense), Excluding Guarantee and Commitment Fees 994 [2],[13] 78 [5],[14] 1,188 [8],[15] 175 [11],[16]  
Non-interest income/(loss) 5,185 4,043 9,674 8,049  
Provision for loan losses (327) (364) (964) (413)  
Provision for Other Credit Losses 139 94 (54) 108  
Noninterest Expense, Excluding Loan, Lease and Other Losses (4,446) (4,112) (8,511) (8,273)  
Non-interest expense 4,585 [17] 4,206 [18] 8,457 [19] 8,381 [20]  
Segment core earnings before income taxes 11,604 9,348 22,268 18,591  
Income Tax Expense (Benefit) 4,061 3,272 7,793 6,508  
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends 7,543 6,076 14,475 12,083  
Preferred Stock Dividends, Income Statement Impact 0 0 0 0  
Less: Net loss attributable to non-controlling interest 0 0 0 0  
Segment core earnings 7,543 6,076 14,475 12,083  
Segment Reporting Information, Additional Information [Abstract]          
Total Assets 3,958,344 3,311,270 3,958,344 3,311,270  
On and Off Balance Sheet Program Assets, At Principal Balance 6,426,518 5,830,533 6,426,518 5,830,533  
USDA Guarantees [Member]          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 5,176 4,938 10,459 9,990  
Less: reconciling adjustments(1)(2)(3) (495) [1],[2],[3] (350) [4],[5],[6] (1,075) [7],[8],[9] (1,094) [10],[11],[12]  
Net Effective Spread 4,681 4,588 9,384 8,896  
Guaranty Fee Income 99 [3] 14 [6] 173 [9] 21 [12]  
Other Non-Interest Income (Expense), Excluding Guarantee and Commitment Fees 11 [2],[13] 25 [5],[14] 25 [8],[15] 83 [11],[16]  
Non-interest income/(loss) 110 39 198 104  
Provision for loan losses 0 0 0 0  
Provision for Other Credit Losses 0 0 0 0  
Noninterest Expense, Excluding Loan, Lease and Other Losses (1,166) (1,092) (2,253) (2,185)  
Non-interest expense 1,166 [17] 1,092 [18] 2,253 [19] 2,185 [20]  
Segment core earnings before income taxes 3,625 3,535 7,329 6,815  
Income Tax Expense (Benefit) 1,269 1,237 2,565 2,385  
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends 2,356 2,298 4,764 4,430  
Preferred Stock Dividends, Income Statement Impact 0 0 0 0  
Less: Net loss attributable to non-controlling interest 0 0 0 0  
Segment core earnings 2,356 2,298 4,764 4,430  
Segment Reporting Information, Additional Information [Abstract]          
Total Assets 2,141,569 2,046,516 2,141,569 2,046,516  
On and Off Balance Sheet Program Assets, At Principal Balance 2,237,013 1,960,358 2,237,013 1,960,358  
Rural Utilities [Member]          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 3,003 2,855 5,951 5,719  
Less: reconciling adjustments(1)(2)(3) (267) [1],[2],[3] (293) [4],[5],[6] (576) [7],[8],[9] (619) [10],[11],[12]  
Net Effective Spread 2,736 2,562 5,375 5,100  
Guaranty Fee Income 487 [3] 373 [6] 979 [9] 668 [12]  
Other Non-Interest Income (Expense), Excluding Guarantee and Commitment Fees 5 [2],[13] 0 [5],[14] 10 [8],[15] 0 [11],[16]  
Non-interest income/(loss) 492 373 989 668  
Provision for loan losses 0 0 0 0  
Provision for Other Credit Losses 0 0 0 0  
Noninterest Expense, Excluding Loan, Lease and Other Losses (643) (830) (1,230) (1,661)  
Non-interest expense 643 [17] 830 [18] 1,230 [19] 1,661 [20]  
Segment core earnings before income taxes 2,585 2,105 5,134 4,107  
Income Tax Expense (Benefit) 905 737 1,797 1,438  
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends 1,680 1,368 3,337 2,669  
Preferred Stock Dividends, Income Statement Impact 0 0 0 0  
Less: Net loss attributable to non-controlling interest 0 0 0 0  
Segment core earnings 1,680 1,368 3,337 2,669  
Segment Reporting Information, Additional Information [Abstract]          
Total Assets 1,038,383 1,023,630 1,038,383 1,023,630  
On and Off Balance Sheet Program Assets, At Principal Balance 1,883,909 1,934,473 1,883,909 1,934,473  
Institutional Credit [Member]          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 15,431 12,109 28,933 23,858  
Less: reconciling adjustments(1)(2)(3) (1,036) [1],[2],[3] (702) [4],[5],[6] (1,957) [7],[8],[9] (1,361) [10],[11],[12]  
Net Effective Spread 14,395 11,407 26,976 22,497  
Guaranty Fee Income 165 [3] 458 [6] 620 [9] 916 [12]  
Other Non-Interest Income (Expense), Excluding Guarantee and Commitment Fees 0 [2],[13] 0 [5],[14] 0 [8],[15] 0 [11],[16]  
Non-interest income/(loss) 165 458 620 916  
Provision for loan losses 0 0 0 0  
Provision for Other Credit Losses 0 0 0 0  
Noninterest Expense, Excluding Loan, Lease and Other Losses (1,622) (538) (3,143) (1,077)  
Non-interest expense 1,622 [17] 538 [18] 3,143 [19] 1,077 [20]  
Segment core earnings before income taxes 12,938 11,327 24,453 22,336  
Income Tax Expense (Benefit) 4,528 3,964 8,558 7,816  
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends 8,410 7,363 15,895 14,520  
Preferred Stock Dividends, Income Statement Impact 0 0 0 0  
Less: Net loss attributable to non-controlling interest 0 0 0 0  
Segment core earnings 8,410 7,363 15,895 14,520  
Segment Reporting Information, Additional Information [Abstract]          
Total Assets 7,425,774 6,071,924 7,425,774 6,071,924  
On and Off Balance Sheet Program Assets, At Principal Balance 7,711,418 7,391,172 7,711,418 7,391,172  
Corporate Segment [Member]          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 2,783 2,850 5,367 5,698  
Less: reconciling adjustments(1)(2)(3) (316) [1],[2],[3] (256) [4],[5],[6] (641) [7],[8],[9] (552) [10],[11],[12]  
Net Effective Spread 2,467 2,594 4,726 5,146  
Guaranty Fee Income 0 [3] 0 [6] 0 [9] 0 [12]  
Other Non-Interest Income (Expense), Excluding Guarantee and Commitment Fees (450) [2],[13] (228) [5],[14] 393 [8],[15] (900) [11],[16]  
Non-interest income/(loss) (450) (228) 393 (900)  
Provision for loan losses 0 0 0 0  
Provision for Other Credit Losses 0 0 0 0  
Noninterest Expense, Excluding Loan, Lease and Other Losses (3,374) (3,408) (6,856) (6,736)  
Non-interest expense 3,374 [17] 3,408 [18] 6,856 [19] 6,736 [20]  
Segment core earnings before income taxes (1,357) (1,042) (1,737) (2,490)  
Income Tax Expense (Benefit) (466) (254) (1,251) (747)  
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends (891) (788) (486) (1,743)  
Preferred Stock Dividends, Income Statement Impact (3,296) (3,296) (6,591) (6,591)  
Less: Net loss attributable to non-controlling interest 150 16 165 44  
Segment core earnings (4,037) (4,068) (6,912) (8,290)  
Segment Reporting Information, Additional Information [Abstract]          
Total Assets 2,703,315 4,369,850 2,703,315 4,369,850  
Segment Reconciling Items [Member]          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 0 0 0 0  
Less: reconciling adjustments(1)(2)(3) 4,121 [1],[2],[3] 3,332 [4],[5],[6] 8,326 [7],[8],[9] 7,023 [10],[11],[12]  
Net Effective Spread 4,121 3,332 8,326 7,023  
Guaranty Fee Income (1,470) [3] (1,155) [6] (2,942) [9] (2,198) [12]  
Other Non-Interest Income (Expense), Excluding Guarantee and Commitment Fees (288) [2],[13] (3,764) [5],[14] 1,608 [8],[15] (9,579) [11],[16]  
Non-interest income/(loss) (1,758) (4,919) (1,334) (11,777)  
Provision for loan losses 0 0 0 0  
Provision for Other Credit Losses 0 0 0 0  
Noninterest Expense, Excluding Loan, Lease and Other Losses 0 0 0 0  
Non-interest expense 0 [17] 0 [18] 0 [19] 0 [20]  
Segment core earnings before income taxes 2,363 [21] (1,587) [22] 6,992 [21] (4,754) [22]  
Income Tax Expense (Benefit) 827 (556) 2,448 (1,665)  
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends 1,536 [21] (1,031) [22] 4,544 [21] (3,089) [22]  
Preferred Stock Dividends, Income Statement Impact 0 0 0 0  
Less: Net loss attributable to non-controlling interest 0 0 0 0  
Segment core earnings 1,536 [21] (1,031) [22] 4,544 [21] (3,089) [22]  
Segment Reporting Information, Additional Information [Abstract]          
Total Assets 0 0 0 0  
On and Off Balance Sheet Program Assets, At Principal Balance $ 0 $ 0 $ 0 $ 0  
[1] Excludes the amortization of premiums and discounts on assets consolidated at fair value, originally included in interest income, to reflect core earnings amounts.
[2] Includes the reclassification of interest expense related to interest rate swaps not designated as hedges, which are included in "(Losses)/gains on financial derivatives and hedging activities" on the consolidated financial statements, to determine the effective funding cost for each operating segment.
[3] Includes the reclassification of interest income and interest expense from consolidated trusts owned by third parties to guarantee and commitment fees, to reflect management's view that the net interest income Farmer Mac earns is effectively a guarantee fee.
[4] Excludes the amortization of premiums and discounts on assets consolidated at fair value, originally included in interest income, to reflect core earnings amounts.
[5] Includes the reclassification of interest expense related to interest rate swaps not designated as hedges, which are included in "(Losses)/gains on financial derivatives and hedging activities" on the consolidated financial statements, to determine the effective funding cost for each operating segment.
[6] Includes the reclassification of interest income and interest expense from consolidated trusts owned by third parties to guarantee and commitment fees, to reflect management's view that the net interest income Farmer Mac earns is effectively a guarantee fee.
[7] Excludes the amortization of premiums and discounts on assets consolidated at fair value, originally included in interest income, to reflect core earnings amounts.
[8] Includes the reclassification of interest expense related to interest rate swaps not designated as hedges, which are included in "(Losses)/gains on financial derivatives and hedging activities" on the consolidated financial statements, to determine the effective funding cost for each operating segment.
[9] Includes the reclassification of interest income and interest expense from consolidated trusts owned by third parties to guarantee and commitment fees, to reflect management's view that the net interest income Farmer Mac earns is effectively a guarantee fee.
[10] Excludes the amortization of premiums and discounts on assets consolidated at fair value, originally included in interest income, to reflect core earnings amounts.
[11] Includes the reclassification of interest expense related to interest rate swaps not designated as hedges, which are included in "(Losses)/gains on financial derivatives and hedging activities" on the consolidated financial statements, to determine the effective funding cost for each operating segment.
[12] Includes the reclassification of interest income and interest expense from consolidated trusts owned by third parties to guarantee and commitment fees, to reflect management's view that the net interest income Farmer Mac earns is effectively a guarantee fee.
[13] Includes reconciling adjustments for fair value adjustments on financial derivatives and trading assets. Also includes a reconciling adjustment related to the recognition of deferred gains over the estimated lives of certain Farmer Mac Guaranteed Securities and USDA Securities. In 2016 and prior periods, fair value adjustments on financial derivatives included variation margin payment amounts because those amounts were considered to be collateral of the related exposure and were accounted for as unrealized gains or losses. However, effective first quarter 2017, CME implemented a change in its rules related to the exchange of variation margin, whereby variation margin payments are considered to be a partial settlement of the respective derivatives contracts rather than as pledged collateral, and accounted for as realized gains and losses. See Note 4 for more information about this rule change. Farmer Mac believes that even though these variation margin amounts are now accounted for as realized gains or losses on financial derivatives and hedging activities as a result of the CME rule change, their economic character will remain the same as they were before the change. The exchange of variation margin, whether considered a partial settlement of or the pledge of collateral under a derivatives contract, is not expected to have a cumulative net impact on Farmer Mac's financial condition or results of operations reported in accordance with GAAP because the related financial instruments are expected to be held to maturity. Therefore, beginning in 2017, this reconciling adjustment includes realized gains and losses on financial derivatives centrally cleared through CME resulting from the exchange of variation margin. As a result, core earnings subsequent to 2016 will be presented on a consistent basis with core earnings in 2016 and prior periods.
[14] Includes reconciling adjustments for fair value adjustments on financial derivatives and trading assets. Also includes a reconciling adjustment related to the recognition of deferred gains over the estimated lives of certain Farmer Mac Guaranteed Securities and USDA Securities.
[15] Includes reconciling adjustments for fair value adjustments on financial derivatives and trading assets. Also includes a reconciling adjustment related to the recognition of deferred gains over the estimated lives of certain Farmer Mac Guaranteed Securities and USDA Securities. In 2016 and prior periods, fair value adjustments on financial derivatives included variation margin payment amounts because those amounts were considered to be collateral of the related exposure and were accounted for as unrealized gains or losses. However, effective first quarter 2017, CME implemented a change in its rules related to the exchange of variation margin, whereby variation margin payments are considered to be a partial settlement of the respective derivatives contracts rather than as pledged collateral, and accounted for as realized gains and losses. See Note 4 for more information about this rule change. Farmer Mac believes that even though these variation margin amounts are now accounted for as realized gains or losses on financial derivatives and hedging activities as a result of the CME rule change, their economic character will remain the same as they were before the change. The exchange of variation margin, whether considered a partial settlement of or the pledge of collateral under a derivatives contract, is not expected to have a cumulative net impact on Farmer Mac's financial condition or results of operations reported in accordance with GAAP because the related financial instruments are expected to be held to maturity. Therefore, beginning in 2017, this reconciling adjustment includes realized gains and losses on financial derivatives centrally cleared through CME resulting from the exchange of variation margin. As a result, core earnings subsequent to 2016 will be presented on a consistent basis with core earnings in 2016 and prior periods.
[16] Includes reconciling adjustments for fair value adjustments on financial derivatives and trading assets. Also includes a reconciling adjustment related to the recognition of deferred gains over the estimated lives of certain Farmer Mac Guaranteed Securities and USDA Securities.
[17] Includes directly attributable costs and an allocation of indirectly attributable costs based on staffing.
[18] Includes directly attributable costs and an allocation of indirectly attributable costs based on staffing.
[19] Includes directly attributable costs and an allocation of indirectly attributable costs based on staffing.
[20] Includes directly attributable costs and an allocation of indirectly attributable costs based on staffing.
[21] Net adjustments to reconcile to the corresponding income measures: core earnings before income taxes reconciled to income before income taxes; core earnings before preferred stock dividends and attribution of income to non-controlling interest reconciled to net income; and segment core earnings reconciled to net income attributable to common stockholders.
[22] Net adjustments to reconcile to the corresponding income measures: core earnings before income taxes reconciled to income before income taxes; core earnings before preferred stock dividends and attribution of income to non-controlling interest reconciled to net income; and segment core earnings reconciled to net income attributable to common stockholders.