INCOME TAXES

6 Months Ended

Jun. 30, 2026

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

During the three and six months ended June 30, 2026, Farmer Mac purchased $21.4 million and $66.4 million, respectively, of renewable energy investment tax credits at prices ranging from approximately $0.91 to $0.93 per $1.00 of credit, resulting in a benefit of $2.0 million and $6.3 million, respectively. During both the three and six months ended June 30, 2025, Farmer Mac purchased $35.6 million in renewable energy investment tax credits at prices of approximately $0.91 per $1.00 of credit. All of the renewable energy investment tax credits purchased are with projects that have been placed into service. As a result of these purchases, Farmer Mac recognized a tax benefit of $3.2 million for both the three and six months ended June 30, 2025.