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Business Segment Reporting - Business Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2017
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | The following tables present core earnings for Farmer Mac's operating segments and a reconciliation to consolidated net income for the three and nine months ended September 30, 2017 and 2016: Table 9.1
Core Earnings by Business Segment
For the Three Months Ended September 30, 2017
| Farm & Ranch |  | USDA Guarantees |  | Rural Utilities |  | Institutional Credit |  | Corporate |  | Reconciling Adjustments |  | Consolidated Net Income
| (in thousands)
Net interest income | $ | 13,609 |  |  | $ | 5,288 |  |  | $ | 2,230 |  |  | $ | 15,431 |  |  | $ | 3,004 |  |  | $ | — |  |  | $ | 39,562 |
Less: reconciling adjustments(1)(2)(3) | (2,131 | ) |  | (433 | ) |  | 602 |  |  | (1,068 | ) |  | (305 | ) |  | 3,335 |  |  | — |
Net effective spread | 11,478 |  |  | 4,855 |  |  | 2,832 |  |  | 14,363 |  |  | 2,699 |  |  | 3,335 |  |  | — |
Guarantee and commitment fees(2) | 4,236 |  |  | 130 |  |  | 476 |  |  | 93 |  |  |  |  |  | (1,621 | ) |  | 3,314 |
Other income/(expense)(3)(4) | 214 |  |  | 9 |  |  | 5 |  |  | — |  |  | 233 |  |  | 524 |  |  | 985 |
Non-interest income/(loss) | 4,450 |  |  | 139 |  |  | 481 |  |  | 93 |  |  | 233 |  |  | (1,097 | ) |  | 4,299 |
Provision for loan losses | (270 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (270 | )
Provision for reserve for losses | (114 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (114 | )
Other non-interest expense | (4,077 | ) |  | (1,080 | ) |  | (608 | ) |  | (1,670 | ) |  | (3,067 | ) |  | — |  |  | (10,502 | )
Non-interest expense(5) | (4,191 | ) |  | (1,080 | ) |  | (608 | ) |  | (1,670 | ) |  | (3,067 | ) |  | — |  |  | (10,616 | )
Core earnings before income taxes | 11,467 |  |  | 3,914 |  |  | 2,705 |  |  | 12,786 |  |  | (135 | ) |  | 2,238 |  | (6) | 32,975 |
Income tax (expense)/benefit | (4,014 | ) |  | (1,370 | ) |  | (947 | ) |  | (4,475 | ) |  | 396 |  |  | (783 | ) |  | (11,193 | )
Core earnings before preferred stock dividends and attribution of income to non-controlling interest | 7,453 |  |  | 2,544 |  |  | 1,758 |  |  | 8,311 |  |  | 261 |  |  | 1,455 |  | (6) | 21,782 |
Preferred stock dividends | — |  |  | — |  |  | — |  |  | — |  |  | (3,295 | ) |  | — |  |  | (3,295 | )
Segment core earnings/(losses) | $ | 7,453 |  |  | $ | 2,544 |  |  | $ | 1,758 |  |  | $ | 8,311 |  |  | $ | (3,034 | ) |  | $ | 1,455 |  | (6) | $ | 18,487 |
Total assets at carrying value | $ | 4,128,778 |  |  | $ | 2,165,749 |  |  | $ | 1,073,525 |  |  | $ | 7,612,572 |  |  | $ | 2,709,614 |  |  | $ | — |  |  | $ | 17,690,238 |
Total on- and off-balance sheet program assets at principal balance | $ | 6,557,030 |  |  | $ | 2,298,956 |  |  | $ | 1,886,445 |  |  | $ | 7,901,842 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,644,273 |
(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 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.
(3) | 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.
(4) | 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.
(5) | Includes directly attributable costs and an allocation of indirectly attributable costs based on staffing.
(6) | 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.
Core Earnings by Business Segment
For the Three Months Ended September 30, 2016
| Farm & Ranch |  | USDA Guarantees |  | Rural Utilities |  | Institutional Credit |  | Corporate |  | Reconciling Adjustments |  | Consolidated Net Income
| (in thousands)
Net interest income | $ | 12,039 |  |  | $ | 5,753 |  |  | $ | 2,963 |  |  | $ | 12,226 |  |  | $ | 2,582 |  |  | $ | — |  |  | $ | 35,563 |
Less: reconciling adjustments(1)(2)(3) | (1,336 | ) |  | (564 | ) |  | (320 | ) |  | (799 | ) |  | (345 | ) |  | 3,364 |  |  | — |
Net effective spread | 10,703 |  |  | 5,189 |  |  | 2,643 |  |  | 11,427 |  |  | 2,237 |  |  | 3,364 |  |  | — |
Guarantee and commitment fees(2) | 3,516 |  |  | 29 |  |  | 529 |  |  | 459 |  |  | — |  |  | (735 | ) |  | 3,798 |
Other income/(expense)(3)(4) | 276 |  |  | 95 |  |  | — |  |  | — |  |  | (388 | ) |  | 320 |  |  | 303 |
Non-interest income/(loss) | 3,792 |  |  | 124 |  |  | 529 |  |  | 459 |  |  | (388 | ) |  | (415 | ) |  | 4,101 |
Provision for loan losses | (191 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (191 | )
Provision for reserve for losses | 222 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 222 |
Other non-interest expense | (3,673 | ) |  | (933 | ) |  | (553 | ) |  | (1,253 | ) |  | (3,113 | ) |  | — |  |  | (9,525 | )
Non-interest expense(5) | (3,451 | ) |  | (933 | ) |  | (553 | ) |  | (1,253 | ) |  | (3,113 | ) |  | — |  |  | (9,303 | )
Core earnings before income taxes | 10,853 |  |  | 4,380 |  |  | 2,619 |  |  | 10,633 |  |  | (1,264 | ) |  | 2,949 |  | (6) | 30,170 |
Income tax (expense)/benefit | (3,799 | ) |  | (1,533 | ) |  | (917 | ) |  | (3,722 | ) |  | 474 |  |  | (1,032 | ) |  | (10,529 | )
Core earnings before preferred stock dividends and attribution of income to non-controlling interest | 7,054 |  |  | 2,847 |  |  | 1,702 |  |  | 6,911 |  |  | (790 | ) |  | 1,917 |  | (6) | 19,641 |
Preferred stock dividends | — |  |  | — |  |  | — |  |  | — |  |  | (3,295 | ) |  | — |  |  | (3,295 | )
Non-controlling interest | — |  |  | — |  |  | — |  |  | — |  |  | 18 |  |  | — |  |  | 18 |
Segment core earnings/(losses) | $ | 7,054 |  |  | $ | 2,847 |  |  | $ | 1,702 |  |  | $ | 6,911 |  |  | $ | (4,067 | ) |  | $ | 1,917 |  | (6) | $ | 16,364 |
Total assets at carrying value | $ | 3,436,641 |  |  | $ | 2,062,195 |  |  | $ | 1,008,903 |  |  | $ | 6,045,227 |  |  | $ | 3,447,939 |  |  | $ | — |  |  | $ | 16,000,905 |
Total on- and off-balance sheet program assets at principal balance | $ | 6,004,728 |  |  | $ | 2,020,834 |  |  | $ | 1,867,666 |  |  | $ | 7,354,511 |  |  | $ | — |  |  | $ | — |  |  | $ | 17,247,739 |
(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 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.
(3) | 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.
(4) | 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.
(5) | Includes directly attributable costs and an allocation of indirectly attributable costs based on staffing.
(6) | 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.
Core Earnings by Business Segment
For the Nine Months Ended September 30, 2017
| Farm & Ranch |  | USDA Guarantees |  | Rural Utilities |  | Institutional Credit |  | Corporate |  | Reconciling Adjustments |  | Consolidated Net Income
| (in thousands)
Net interest income | $ | 39,701 |  |  | $ | 15,747 |  |  | $ | 8,181 |  |  | $ | 44,364 |  |  | $ | 8,371 |  |  | $ | — |  |  | $ | 116,364 |
Less: reconciling adjustments(1)(2)(3) | (6,208 | ) |  | (1,508 | ) |  | 26 |  |  | (3,025 | ) |  | (946 | ) |  | 11,661 |  |  | — |
Net effective spread | 33,493 |  |  | 14,239 |  |  | 8,207 |  |  | 41,339 |  |  | 7,425 |  |  | 11,661 |  |  | — |
Guarantee and commitment fees(2) | 12,722 |  |  | 303 |  |  | 1,455 |  |  | 713 |  |  | — |  |  | (4,563 | ) |  | 10,630 |
Other income/(expense)(3)(4) | 1,402 |  |  | 34 |  |  | 15 |  |  | — |  |  | 626 |  |  | 2,132 |  |  | 4,209 |
Non-interest income/(loss) | 14,124 |  |  | 337 |  |  | 1,470 |  |  | 713 |  |  | 626 |  |  | (2,431 | ) |  | 14,839 |
Provision for loan losses | (1,234 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,234 | )
Release of reserve for losses | (60 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (60 | )
Other non-interest expense | (12,588 | ) |  | (3,333 | ) |  | (1,838 | ) |  | (4,813 | ) |  | (9,923 | ) |  | — |  |  | (32,495 | )
Non-interest expense(5) | (12,648 | ) |  | (3,333 | ) |  | (1,838 | ) |  | (4,813 | ) |  | (9,923 | ) |  | — |  |  | (32,555 | )
Core earnings before income taxes | 33,735 |  |  | 11,243 |  |  | 7,839 |  |  | 37,239 |  |  | (1,872 | ) |  | 9,230 |  | (6) | 97,414 |
Income tax (expense)/benefit | (11,806 | ) |  | (3,935 | ) |  | (2,744 | ) |  | (13,033 | ) |  | 1,646 |  |  | (3,231 | ) |  | (33,103 | )
Core earnings before preferred stock dividends and attribution of income to non-controlling interest | 21,929 |  |  | 7,308 |  |  | 5,095 |  |  | 24,206 |  |  | (226 | ) |  | 5,999 |  | (6) | 64,311 |
Preferred stock dividends | — |  |  | — |  |  | — |  |  | — |  |  | (9,886 | ) |  | — |  |  | (9,886 | )
Non-controlling interest | — |  |  | — |  |  | — |  |  | — |  |  | 165 |  |  | — |  |  | 165 |
Segment core earnings/(losses) | $ | 21,929 |  |  | $ | 7,308 |  |  | $ | 5,095 |  |  | $ | 24,206 |  |  | $ | (9,947 | ) |  | $ | 5,999 |  | (6) | $ | 54,590 |
Total assets at carrying value | $ | 4,128,778 |  |  | $ | 2,165,749 |  |  | $ | 1,073,525 |  |  | $ | 7,612,572 |  |  | $ | 2,709,614 |  |  | $ | — |  |  | $ | 17,690,238 |
Total on- and off-balance sheet program assets at principal balance | $ | 6,557,030 |  |  | $ | 2,298,956 |  |  | $ | 1,886,445 |  |  | $ | 7,901,842 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,644,273 |
(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 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.
(3) | 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.
(4) | 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.
(5) | Includes directly attributable costs and an allocation of indirectly attributable costs based on staffing.
(6) | 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.
Core Earnings by Business Segment
For the Nine Months Ended September 30, 2016
| Farm & Ranch |  | USDA Guarantees |  | Rural Utilities |  | Institutional Credit |  | Corporate |  | Reconciling Adjustments |  | Consolidated Net Income
| (in thousands)
Net interest income | $ | 34,772 |  |  | $ | 15,743 |  |  | $ | 8,682 |  |  | $ | 36,084 |  |  | $ | 8,280 |  |  | $ | — |  |  | $ | 103,561 |
Less: reconciling adjustments(1)(2)(3) | (4,733 | ) |  | (1,658 | ) |  | (939 | ) |  | (2,160 | ) |  | (897 | ) |  | 10,387 |  |  | — |
Net effective spread | 30,039 |  |  | 14,085 |  |  | 7,743 |  |  | 33,924 |  |  | 7,383 |  |  | 10,387 |  |  | — |
Guarantee and commitment fees(2) | 11,390 |  |  | 50 |  |  | 1,197 |  |  | 1,375 |  |  | — |  |  | (2,933 | ) |  | 11,079 |
Other income/(expense)(3)(4) | 451 |  |  | 178 |  |  | — |  |  | — |  |  | (1,288 | ) |  | (9,259 | ) |  | (9,918 | )
Non-interest income/(loss) | 11,841 |  |  | 228 |  |  | 1,197 |  |  | 1,375 |  |  | (1,288 | ) |  | (12,192 | ) |  | 1,161 |
Provision for loan losses | (604 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (604 | )
Provision for reserve for losses | 114 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 114 |
Other non-interest expense | (11,946 | ) |  | (3,118 | ) |  | (2,214 | ) |  | (2,330 | ) |  | (9,849 | ) |  | — |  |  | (29,457 | )
Non-interest expense(5) | (11,832 | ) |  | (3,118 | ) |  | (2,214 | ) |  | (2,330 | ) |  | (9,849 | ) |  | — |  |  | (29,343 | )
Core earnings before income taxes | 29,444 |  |  | 11,195 |  |  | 6,726 |  |  | 32,969 |  |  | (3,754 | ) |  | (1,805 | ) | (6) | 74,775 |
Income tax (expense)/benefit | (10,307 | ) |  | (3,918 | ) |  | (2,355 | ) |  | (11,538 | ) |  | 1,221 |  |  | 633 |  |  | (26,264 | )
Core earnings before preferred stock dividends and attribution of income to non-controlling interest | 19,137 |  |  | 7,277 |  |  | 4,371 |  |  | 21,431 |  |  | (2,533 | ) |  | (1,172 | ) | (6) | 48,511 |
Preferred stock dividends | — |  |  | — |  |  | — |  |  | — |  |  | (9,886 | ) |  | — |  |  | (9,886 | )
Non-controlling interest | — |  |  | — |  |  | — |  |  | — |  |  | 62 |  |  | — |  |  | 62 |
Segment core earnings/(losses) | $ | 19,137 |  |  | $ | 7,277 |  |  | $ | 4,371 |  |  | $ | 21,431 |  |  | $ | (12,357 | ) |  | $ | (1,172 | ) | (6) | $ | 38,687 |
Total assets at carrying value | $ | 3,436,641 |  |  | $ | 2,062,195 |  |  | $ | 1,008,903 |  |  | $ | 6,045,227 |  |  | $ | 3,447,939 |  |  | $ | — |  |  | $ | 16,000,905 |
Total on- and off-balance sheet program assets at principal balance | $ | 6,004,728 |  |  | $ | 2,020,834 |  |  | $ | 1,867,666 |  |  | $ | 7,354,511 |  |  | $ | — |  |  | $ | — |  |  | $ | 17,247,739 |
(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 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.
(3) | 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.
(4) | 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.
(5) | Includes directly attributable costs and an allocation of indirectly attributable costs based on staffing.
(6) | 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.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8736-108599 + Details
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