XML 19 R8.htm IDEA: XBRL DOCUMENT v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net Income $ 104,488,000 $ 100,851,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of deferred gains, premiums, and discounts on loans, investments, Farmer Mac Guaranteed Securities, and USDA Securities (11,195,000) (13,257,000)
Net amortization of debt premiums, discounts, and issuance costs 4,438,000 29,553,000
Net change in fair value of trading securities, loans held for sale, hedged items, and financial derivatives (152,332,000) 141,556,000
Losses on sale of mortgage loans 0 1,147,000
Gains on the sale of available-for-sale investment securities 0 (1,052,000)
Losses on sale of real estate owned 69,000 0
Total provision for/(release of) allowance for losses 9,395,000 4,360,000
Excess tax benefits related to stock-based awards (645,000) 221,000
Deferred income taxes (696,000) 4,033,000
Stock-based compensation expense 5,274,000 5,038,000
Purchases of loans held for sale (7,770,000) 0
Proceeds from repayment of loans purchased as held for sale 22,583,000 13,564,000
Net change in:    
Interest receivable (9,655,000) (1,189,000)
Guarantee and commitment fees receivable (57,000) 273,000
Other assets 24,895,000 (13,176,000)
Accrued interest payable 15,497,000 12,330,000
Custodial deposit liability (107,428,000) 11,872,000
Other liabilities 5,598,000 (6,658,000)
Net cash (used in)/provided by operating activities (97,541,000) 289,466,000
Cash flows from investing activities:    
Purchases of equipment and leasehold improvements 0 (5,206,000)
Purchases of other investment securities (3,240,000) (581,000)
Purchases of loans held for investment (2,205,600,000) (1,593,259,000)
Purchases of defaulted loans (2,544,000) 0
Proceeds from repayment of loans purchased as held for investment 1,021,373,000 809,934,000
Proceeds from sale of real estate owned 725,000 0
Proceeds from sale of available-for-sale investment securities 0 102,955,000
Proceeds from sale of loans previously classified as held for investment 6,045,000 5,775,000
Proceeds from sale of Farmer Mac Guaranteed Securities 0 60,192,000
Net cash used in investing activities (1,382,439,000) (633,852,000)
Cash flows from financing activities:    
Proceeds from issuance of discount notes 36,373,320,000 26,245,284,000
Proceeds from issuance of medium-term notes 6,586,755,000 3,293,703,000
Proceeds from issuance of debt securities of consolidated trusts 286,511,000 283,462,000
Payments to redeem discount notes (36,563,148,000) (25,724,358,000)
Payments to redeem medium-term notes (5,038,820,000) (3,607,788,000)
Payments to third parties on debt securities of consolidated trusts (109,353,000) (63,886,000)
Proceeds from common stock issuance 159,000 131,000
Tax payments related to share-based awards (5,036,000) (3,906,000)
Dividends paid on common and preferred stock (44,086,000) (44,002,000)
Net cash provided by financing activities 1,486,302,000 378,640,000
Net change in cash and cash equivalents 6,322,000 34,254,000
Cash, cash equivalents, and restricted cash at beginning of period 1,024,007,000 888,707,000
Cash, cash equivalents, and restricted cash at end of period 1,030,329,000 922,961,000
Non-cash activity:    
Loans securitized as Farmer Mac Guaranteed Securities 41,156,000 85,114,000
Loans held for investment transferred to consolidated trusts 299,270,000 305,559,000
Available-for-sale securities    
Cash flows from investing activities:    
Purchases of available-for-sale and held-to-maturity investment securities (1,295,092,000) (1,165,956,000)
Proceeds from repayment of available-for-sale and held-to-maturity investment securities 652,472,000 775,168,000
Farmer Mac Guaranteed Securities and USDA Securities    
Cash flows from investing activities:    
Purchases of Farmer Mac Guaranteed Securities and USDA Securities (613,730,000) (798,234,000)
Proceeds from repayment of Farmer Mac Guaranteed Securities and USDA Securities $ 1,057,152,000 $ 1,175,360,000