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v3.25.1

NOTES PAYABLE (Tables) | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Schedule of Debt | The following tables set forth information related to Farmer Mac's borrowings as of March 31, 2025 and December 31, 2024: Table 7.1
| March 31, 2025
| Outstanding as of March 31 |  | Average Outstanding During the Quarter
| Amount |  | Weighted- Average Rate |  | Amount |  | Weighted- Average Rate
| (dollars in thousands)
Due within one year: |  |  |  |  |  |  |
Discount notes | $ | 1,874,562 |  |  | 4.24 | % |  | $ | 2,015,154 |  |  | 4.32 | %
Medium-term notes | 2,813,359 |  |  | 4.45 | % |  | 2,339,633 |  |  | 5.37 | %
Current portion of medium-term notes | 5,420,306 |  |  | 2.91 | % |  |  |  |
Total due within one year | $ | 10,108,227 |  |  | 3.59 | % |  |  |  |
Due after one year: |  |  |  |  |  |  |
Medium-term notes due in: |  |  |  |  |  |  |
Two years | $ | 5,703,854 |  |  | 3.05 | % |  |  |  |
Three years | 3,420,124 |  |  | 3.83 | % |  |  |  |
Four years | 2,957,557 |  |  | 4.20 | % |  |  |  |
Five years | 2,845,939 |  |  | 4.31 | % |  |  |  |
Thereafter | 3,014,065 |  |  | 2.67 | % |  |  |  |
Total due after one year | $ | 17,941,539 |  |  | 3.52 | % |  |  |  |
Total principal net of discounts | $ | 28,049,766 |  |  | 3.55 | % |  |  |  |
Hedging adjustments | (74,570) |  |  |  |  |  |  |
Total | $ | 27,975,196 |  |  |  |  |  |  |
| December 31, 2024
| 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 | $ | 2,167,258 |  |  | 4.42 | % |  | $ | 1,928,884 |  |  | 5.11 | %
Medium-term notes | 2,343,264 |  |  | 4.64 | % |  | 1,000,290 |  |  | 5.28 | %
Current portion of medium-term notes | 5,927,101 |  |  | 3.20 | % |  |  |  |
Total due within one year | $ | 10,437,623 |  |  | 3.77 | % |  |  |  |
Due after one year: |  |  |  |  |  |  |
Medium-term notes due in: |  |  |  |  |  |  |
Two years | $ | 4,844,538 |  |  | 2.66 | % |  |  |  |
Three years | 3,822,999 |  |  | 3.53 | % |  |  |  |
Four years | 2,732,980 |  |  | 4.13 | % |  |  |  |
Five years | 2,491,831 |  |  | 4.41 | % |  |  |  |
Thereafter | 3,190,202 |  |  | 2.63 | % |  |  |  |
Total due after one year | $ | 17,082,550 |  |  | 3.34 | % |  |  |  |
Total principal net of discounts | $ | 27,520,173 |  |  | 3.51 | % |  |  |  |
Hedging adjustments | (148,999) |  |  |  |  |  |  |
Total | $ | 27,371,174 |  |  |  |  |  |  |
The following table summarizes by maturity date the amounts and costs for Farmer Mac debt callable in 2025 as of March 31, 2025: Table 7.2
Debt Callable in 2025 as of March 31, 2025, by Maturity
| Amount |  | Weighted-Average Rate
| (dollars in thousands)
Maturity: |  |  |
2026 | $ | 1,512,624 |  |  | 2.16 | %
2027 | 853,491 |  |  | 2.78 | %
2028 | 573,260 |  |  | 3.75 | %
2029 | 353,497 |  |  | 4.25 | %
Thereafter | 1,797,394 |  |  | 2.19 | %
Total | $ | 5,090,266 |  |  | 2.60 | %
Schedule of Long-Term Debt Instruments | The following schedule summarizes the earliest interest rate reset date, or debt maturities, of total borrowings outstanding as of March 31, 2025, 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, or Debt Maturities, of Borrowings Outstanding
| Amount |  | Weighted-Average Rate
| (dollars in thousands)
Debt with interest rate resets, or debt maturities in: |  |  |
2025 | $ | 10,388,191 |  |  | 3.66 | %
2026 | 5,224,255 |  |  | 2.94 | %
2027 | 3,813,258 |  |  | 3.69 | %
2028 | 2,727,135 |  |  | 4.10 | %
2029 | 2,354,686 |  |  | 4.38 | %
Thereafter | 3,542,241 |  |  | 2.98 | %
Total principal net of discounts | $ | 28,049,766 |  |  | 3.55 | %

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