XML 47 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Net income $ 21,841,000 $ 22,647,000 $ 78,602,000 $ 53,093,000
Unrealized holding (losses)/gains on available-for-sale securities (1) (8,675,000) [1] 5,507,000 [1] (35,053,000) [1] 16,370,000 [1]
Gains on sale of available-for-sale investment securities (3) 0 [2] 0 [2] (1,997,000) [2] (18,000) [2]
Comprehensive income 9,949,000 24,739,000 31,461,000 65,528,000
Less: Comprehensive income attributable to noncontrolling interest - preferred stock dividends (5,547,000) (5,547,000) (16,641,000) (16,641,000)
Comprehensive income attributable to Farmer Mac 4,402,000 19,192,000 14,820,000 48,887,000
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax 4,700,000 3,000,000 18,900,000 (8,800,000)
Other Comprehensive Income, Reclassification Adjustment for Sale of Securities Included in Net Income, Tax     1,100,000 10,000
Accumulated Other Comprehensive Income (Loss) [Member]
       
Other comprehensive income/(loss) (11,892,000) 2,092,000 (47,141,000) 12,435,000
financial derivatives and hedging activities [Member]
       
Gains on financial derivatives and hedging activities (2) (3,087,000) [3] (3,191,000) [3] (9,506,000) [3] (3,191,000) [3]
Tax effects of reclassification adjustment for gains included in net income, tax 1,700,000 1,700,000 5,100,000 1,700,000
Other Income [Member]
       
Other income (4) (130,000) [4] (224,000) [4] (585,000) [4] (726,000) [4]
Tax effects of reclassification adjustment for gains included in net income, tax $ 100,000 $ 100,000 $ 300,000 $ 400,000
[1] Presented net of income tax benefit of $4.7 million and expense of $3.0 million for the three months ended September 30, 2013 and 2012, respectively, and income tax benefit of $18.9 million and expense of $8.8 million for the nine months ended September 30, 2013 and 2012, respectively.
[2] Represents realized gains on sales of available-for-sale investment securities. Presented net of income tax benefit of $1.1 million and $10,000 for the nine months ended September 30, 2013 and 2012, respectively.
[3] Relates to the amortization of the unrealized gains on the hedged items prior to application of hedge accounting. Presented net of income tax benefit of $1.7 million for both the three months ended September 30, 2013 and 2012, and income tax benefit of $5.1 million and $1.7 million for the nine months ended September 30, 2013 and 2012, respectively.
[4] Represents amortization of deferred gains related to certain available-for-sale USDA Guaranteed Securities and Farmer Mac Guaranteed Securities. Presented net of income tax benefit of $0.1 million for the three months ended September 30, 2013 and 2012, and income tax benefit of $0.3 million and $0.4 million for the nine months ended September 30, 2013 and 2012, respectively.