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Business Segment Reporting - Core Earnings - Business Segments (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Dec. 31, 2016
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income $ 39,562 $ 35,563 $ 116,364 $ 103,561  
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 3,314 [3] 3,798 [6] 10,630 [9] 11,079 [12]  
Other Non-Interest Income (Expense), Excluding Guarantee and Commitment Fees 985 [2],[13] 303 [5],[14] 4,209 [8],[15] (9,918) [11],[16]  
Non-interest income 4,299 4,101 14,839 1,161  
Provision for loan losses (270) (191) (1,234) (604)  
Provision for Other Credit Losses 114 (222) 60 (114)  
Noninterest Expense, Excluding Loan, Lease and Other Losses (10,502) (9,525) (32,495) (29,457)  
Non-interest expense 10,616 [17] 9,303 [18] 32,555 [19] 29,343 [20]  
Income Tax Expense (Benefit) 11,193 10,529 33,103 26,264  
Net income 21,782 19,641 64,311 48,511  
Net income 32,975 30,170 97,414 74,775  
Preferred Stock Dividends, Income Statement Impact (3,295) (3,295) (9,886) (9,886)  
Less: Net loss attributable to non-controlling interest 0 18 165 62  
Net Income (Loss) Available to Common Stockholders, Basic 18,487 16,364 54,590 38,687  
Segment Reporting Information, Additional Information [Abstract]          
Total Assets 17,690,238 16,000,905 17,690,238 16,000,905 $ 15,606,020
On and Off Balance Sheet Program Assets, At Principal Balance 18,644,273 17,247,739 18,644,273 17,247,739  
Farm & Ranch [Member]          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 13,609 12,039 39,701 34,772  
Less: reconciling adjustments(1)(2)(3) (2,131) [1],[2],[3] (1,336) [4],[5],[6] (6,208) [7],[8],[9] (4,733) [10],[11],[12]  
Net Effective Spread 11,478 10,703 33,493 30,039  
Guaranty Fee Income 4,236 [3] 3,516 [6] 12,722 [9] 11,390 [12]  
Other Non-Interest Income (Expense), Excluding Guarantee and Commitment Fees 214 [2],[13] 276 [5],[14] 1,402 [8],[15] 451 [11],[16]  
Non-interest income 4,450 3,792 14,124 11,841  
Provision for loan losses (270) (191) (1,234) (604)  
Provision for Other Credit Losses 114 (222) 60 (114)  
Noninterest Expense, Excluding Loan, Lease and Other Losses (4,077) (3,673) (12,588) (11,946)  
Non-interest expense 4,191 [17] 3,451 [18] 12,648 [19] 11,832 [20]  
Segment core earnings before income taxes 11,467 10,853 33,735 29,444  
Income Tax Expense (Benefit) 4,014 3,799 11,806 10,307  
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends 7,453 7,054 21,929 19,137  
Preferred Stock Dividends, Income Statement Impact 0 0 0 0  
Less: Net loss attributable to non-controlling interest   0 0 0  
Segment core earnings 7,453 7,054 21,929 19,137  
Segment Reporting Information, Additional Information [Abstract]          
Total Assets 4,128,778 3,436,641 4,128,778 3,436,641  
On and Off Balance Sheet Program Assets, At Principal Balance 6,557,030 6,004,728 6,557,030 6,004,728  
USDA Guarantees [Member]          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 5,288 5,753 15,747 15,743  
Less: reconciling adjustments(1)(2)(3) (433) [1],[2],[3] (564) [4],[5],[6] (1,508) [7],[8],[9] (1,658) [10],[11],[12]  
Net Effective Spread 4,855 5,189 14,239 14,085  
Guaranty Fee Income 130 [3] 29 [6] 303 [9] 50 [12]  
Other Non-Interest Income (Expense), Excluding Guarantee and Commitment Fees 9 [2],[13] 95 [5],[14] 34 [8],[15] 178 [11],[16]  
Non-interest income 139 124 337 228  
Provision for loan losses 0 0 0 0  
Provision for Other Credit Losses 0 0 0  
Noninterest Expense, Excluding Loan, Lease and Other Losses (1,080) (933) (3,333) (3,118)  
Non-interest expense 1,080 [17] 933 [18] 3,333 [19] 3,118 [20]  
Segment core earnings before income taxes 3,914 4,380 11,243 11,195  
Income Tax Expense (Benefit) 1,370 1,533 3,935 3,918  
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends 2,544 2,847 7,308 7,277  
Preferred Stock Dividends, Income Statement Impact 0 0 0 0  
Less: Net loss attributable to non-controlling interest   0 0 0  
Segment core earnings 2,544 2,847 7,308 7,277  
Segment Reporting Information, Additional Information [Abstract]          
Total Assets 2,165,749 2,062,195 2,165,749 2,062,195  
On and Off Balance Sheet Program Assets, At Principal Balance 2,298,956 2,020,834 2,298,956 2,020,834  
Rural Utilities [Member]          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 2,230 2,963 8,181 8,682  
Less: reconciling adjustments(1)(2)(3) 602 [1],[2],[3] (320) [4],[5],[6] 26 [7],[8],[9] (939) [10],[11],[12]  
Net Effective Spread 2,832 2,643 8,207 7,743  
Guaranty Fee Income 476 [3] 529 [6] 1,455 [9] 1,197 [12]  
Other Non-Interest Income (Expense), Excluding Guarantee and Commitment Fees 5 [2],[13] 0 [5],[14] 15 [8],[15] 0 [11],[16]  
Non-interest income 481 529 1,470 1,197  
Provision for loan losses 0 0 0 0  
Provision for Other Credit Losses 0 0 0  
Noninterest Expense, Excluding Loan, Lease and Other Losses (608) (553) (1,838) (2,214)  
Non-interest expense 608 [17] 553 [18] 1,838 [19] 2,214 [20]  
Segment core earnings before income taxes 2,705 2,619 7,839 6,726  
Income Tax Expense (Benefit) 947 917 2,744 2,355  
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends 1,758 1,702 5,095 4,371  
Preferred Stock Dividends, Income Statement Impact 0 0 0 0  
Less: Net loss attributable to non-controlling interest   0 0 0  
Segment core earnings 1,758 1,702 5,095 4,371  
Segment Reporting Information, Additional Information [Abstract]          
Total Assets 1,073,525 1,008,903 1,073,525 1,008,903  
On and Off Balance Sheet Program Assets, At Principal Balance 1,886,445 1,867,666 1,886,445 1,867,666  
Institutional Credit [Member]          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 15,431 12,226 44,364 36,084  
Less: reconciling adjustments(1)(2)(3) (1,068) [1],[2],[3] (799) [4],[5],[6] (3,025) [7],[8],[9] (2,160) [10],[11],[12]  
Net Effective Spread 14,363 11,427 41,339 33,924  
Guaranty Fee Income 93 [3] 459 [6] 713 [9] 1,375 [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 93 459 713 1,375  
Provision for loan losses 0 0 0 0  
Provision for Other Credit Losses 0 0 0  
Noninterest Expense, Excluding Loan, Lease and Other Losses (1,670) (1,253) (4,813) (2,330)  
Non-interest expense 1,670 [17] 1,253 [18] 4,813 [19] 2,330 [20]  
Segment core earnings before income taxes 12,786 10,633 37,239 32,969  
Income Tax Expense (Benefit) 4,475 3,722 13,033 11,538  
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends 8,311 6,911 24,206 21,431  
Preferred Stock Dividends, Income Statement Impact 0 0 0 0  
Less: Net loss attributable to non-controlling interest   0 0 0  
Segment core earnings 8,311 6,911 24,206 21,431  
Segment Reporting Information, Additional Information [Abstract]          
Total Assets 7,612,572 6,045,227 7,612,572 6,045,227  
On and Off Balance Sheet Program Assets, At Principal Balance 7,901,842 7,354,511 7,901,842 7,354,511  
Corporate Segment [Member]          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 3,004 2,582 8,371 8,280  
Less: reconciling adjustments(1)(2)(3) (305) [1],[2],[3] (345) [4],[5],[6] (946) [7],[8],[9] (897) [10],[11],[12]  
Net Effective Spread 2,699 2,237 7,425 7,383  
Guaranty Fee Income [3] 0 [6] 0 [9] 0 [12]  
Other Non-Interest Income (Expense), Excluding Guarantee and Commitment Fees 233 [2],[13] (388) [5],[14] 626 [8],[15] (1,288) [11],[16]  
Non-interest income 233 (388) 626 (1,288)  
Provision for loan losses 0 0 0 0  
Provision for Other Credit Losses 0 0 0  
Noninterest Expense, Excluding Loan, Lease and Other Losses (3,067) (3,113) (9,923) (9,849)  
Non-interest expense 3,067 [17] 3,113 [18] 9,923 [19] 9,849 [20]  
Segment core earnings before income taxes (135) (1,264) (1,872) (3,754)  
Income Tax Expense (Benefit) (396) (474) (1,646) (1,221)  
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends 261 (790) (226) (2,533)  
Preferred Stock Dividends, Income Statement Impact (3,295) (3,295) (9,886) (9,886)  
Less: Net loss attributable to non-controlling interest   18 165 62  
Segment core earnings (3,034) (4,067) (9,947) (12,357)  
Segment Reporting Information, Additional Information [Abstract]          
Total Assets 2,709,614 3,447,939 2,709,614 3,447,939  
Segment Reconciling Items [Member]          
Segment Reporting Information, Profit (Loss) [Abstract]          
Net interest income 0 0 0 0  
Less: reconciling adjustments(1)(2)(3) 3,335 [1],[2],[3] 3,364 [4],[5],[6] 11,661 [7],[8],[9] 10,387 [10],[11],[12]  
Net Effective Spread 3,335 3,364 11,661 10,387  
Guaranty Fee Income (1,621) [3] (735) [6] (4,563) [9] (2,933) [12]  
Other Non-Interest Income (Expense), Excluding Guarantee and Commitment Fees 524 [2],[13] 320 [5],[14] 2,132 [8],[15] (9,259) [11],[16]  
Non-interest income (1,097) (415) (2,431) (12,192)  
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 2,238 [21] 2,949 [22] 9,230 [21] (1,805) [22]  
Income Tax Expense (Benefit) 783 1,032 3,231 (633)  
Segment core earnings before preferred stock dividends and attibution of income to non-controlling interest - preferred stock dividends 1,455 [21] 1,917 [22] 5,999 [21] (1,172) [22]  
Preferred Stock Dividends, Income Statement Impact 0 0 0 0  
Less: Net loss attributable to non-controlling interest   0 0 0  
Segment core earnings 1,455 [21] 1,917 [22] 5,999 [21] (1,172) [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 "Gains/(losses) 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 "Gains/(losses) 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 "Gains/(losses) 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 "Gains/(losses) 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. This 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. This 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.