Notes Payable - Notes Payable (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Debt

The following tables set forth information related to Farmer Mac's borrowings as of December 31, 2019 and 2018:

Table 7.1

	December 31, 2019
	Outstanding as of December 31				Average Outstanding During the Year
	Amount		Weighted- Average Rate		Amount		Weighted- Average Rate
	(dollars in thousands)
Due within one year:
Discount notes	$	2,194,177	1.72	%	$	1,977,214	2.25	%
Medium-term notes	1,152,770		1.98	%	1,780,517		2.33	%
Current portion of long-term notes	6,672,135		1.85	%
Total due within one year	$	10,019,082	1.84	%
Due after one year:
Medium-term notes due in:
2021	$	3,700,835	2.04	%
2022	1,594,709		2.15	%
2023	1,205,276		2.27	%
2024	760,887		2.25	%
Thereafter	1,817,859		2.89	%
Total due after one year	9,079,566		2.28	%
Total	$	19,098,648	2.05	%

	December 31, 2018
	Outstanding as of December 31				Average Outstanding During the Year
	Amount		Weighted- Average Rate		Amount		Weighted- Average Rate
	(dollars in thousands)
Due within one year:
Discount notes	$	1,586,385	2.35	%	$	1,432,470	1.83	%
Medium-term notes	1,826,380		2.29	%	1,977,445		1.83	%
Current portion of long-term notes	4,344,285		1.93	%
Total due within one year	$	7,757,050	2.10	%
Due after one year:
Medium-term notes due in:
2020	$	3,090,405	2.11	%
2021	2,220,651		2.41	%
2022	859,470		2.19	%
2023	881,738		2.88	%
Thereafter	1,434,383		3.34	%
Total due after one year	8,486,647		2.48	%
Total	$	16,243,697	2.30	%

The following table summarizes by maturity date the amounts and costs for Farmer Mac debt callable in 2020 as of December 31, 2019:

Table 7.2

Debt Callable in 2020 as of December 31, 2019
	Amount		Weighted-Average Rate
	(dollars in thousands)
Maturity:
2021	$	518,746	2.03	%
2022	289,742		2.30	%
2023	22,978		1.93	%
2024	191,688		2.32	%
Thereafter	374,064		2.80	%
Total	$	1,397,218	2.33	%

Schedule of Long-Term Debt Instruments

The following schedule summarizes the earliest interest rate reset date of total borrowings outstanding as of December 31, 2019, including callable and non-callable medium-term notes, assuming callable notes are redeemed at the initial call date:

Table 7.3

	Earliest Interest Rate Reset Date of Borrowings Outstanding
	Amount		Weighted-Average Rate
	(dollars in thousands)
Debt with interest rate resets in:
2020	$	11,842,948	1.85	%
2021	2,399,892		2.18	%
2022	1,463,737		2.16	%
2023	1,160,300		2.28	%
2024	727,900		2.26	%
Thereafter	1,503,871		3.03	%
Total	$	19,098,648	2.05	%