Federal agricultural mortgage corporation (AGM)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities:
Net income

109

108

84

77

73

70

97

68

38

52

99

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

10

1

-1

-1

-2

-18

-26

-19

-14

11

-3

Amortization of debt premiums, discounts, and issuance costs

50

30

22

31

15

9

11

14

12

7

12

Net change in fair value of trading securities, hedged assets, and financial derivatives

220

23

11

15

12

-8

44

1

-44

16

105

Amortization of deferred gains on certain Farmer Mac Guaranteed Securities and USDA Guaranteed Securities

-

-

-

-

-

-

-

-

-

-

0

Other-than-temporary impairment losses

-

-

-

-

-

-

-

-

-

-

3

Gains on sale of loans

-

-

-

-

-

-

-

-

-

-

1

Losses on sale of available-for-sale investment securities

-

-

-

-

-

-0

2

0

0

0

3

Gains on repurchase of debt

-

-

-

-

-

-

1

0

0

-

-

Gain on sale of real estate owned

0

-0

1

0

-0

0

1

0

0

0

0

Total provision for/(release of) allowance for losses

3

0

1

1

0

-3

0

1

-2

4

-5

Excess tax benefits related to stock-based awards

0

0

0

0

0

-

-

-

-

-

-

Deferred income taxes

0

2

3

4

3

-6

6

-1

-18

-0

35

Other

-0

0

-0

-0

0

-

-

-

-

-

-

Stock-based compensation expense

2

2

2

3

3

2

2

2

2

2

2

Purchases of loans held for sale

0

25

0

0

-

-

-

171

214

661

164

Proceeds from the sale of loans held for sale

0

25

0

0

-

-

-

-

-

-

73

Proceeds from repayment of loans purchased as held for sale

54

92

70

70

95

98

168

151

95

43

30

Proceeds from (Payments for) Trading Securities, Short-term

-

-

-

2

0

0

0

0

83

0

0

Net change in:
Interest receivable

19

25

32

9

5

-3

4

-6

19

23

-5

Guarantee and commitment fees receivable

0

0

-0

-1

0

-1

1

10

-3

-20

-6

Other assets

2

6

-3

-43

-8

39

-52

43

9

-19

-76

Accrued interest payable

10

21

25

2

-0

-5

1

-9

3

17

-0

Other liabilities

1

-0

2

-0

0

-3

-0

5

-6

-18

-9

Net cash (used in)/provided by operating activities

-19

200

175

212

184

155

313

33

26

-538

73

Cash flows from investing activities:
Purchases of held-to-maturity investment securities

0

0

45

0

0

-

-

-

-

-

-

Purchases of loans held for investment

2,234

947

1,266

1,016

837

749

911

564

489

34

59

Purchases of defaulted loans

0

1

0

2

16

0

6

17

21

6

21

Proceeds from repayment of securities

-

-

-

-

-

-

-

-

-

350

195

Proceeds from repayment of Farmer Mac Guaranteed Securities and USDA Guaranteed Securities

-

-

-

-

-

-

-

-

-

711

725

Proceeds from repayment of loans purchased as held for investment

758

611

435

402

311

337

265

289

292

291

72

Proceeds from sale of Farmer Mac Guaranteed Securities

321

382

519

609

336

175

150

38

-

-

188

Proceeds from the sale of trading securities - fair value option

-

-

-

-

-

-

-

-

-

5

0

Proceeds from sale of real estate owned

0

0

8

0

-0

1

4

2

4

1

40

Proceeds from sale of loans purchased as held for investment

-

-

-

-

-

-

-

-

-

-

285

Net cash used in investing activities

-2,384

-591

-1,842

-593

-1,250

-83

-995

-1,328

-2,004

-1,636

-639

Cash flows from financing activities:
Excess Tax Benefit from Share-based Compensation, Financing Activities

-

-

-

1

0

0

1

2

0

0

0

Payments to third parties on debt securities of consolidated trusts

181

138

106

82

47

37

56

106

148

176

0

Proceeds from common stock issuance

0

0

0

0

1

0

1

2

0

0

0

Retirement of Series B preferred stock

75

0

0

-

-

-

-

-

0

-144

0

Issuance costs on retirement of preferred stock

-

-

-

-

-

-

-

-

-

-5

0

Proceeds from Series D preferred stock issuance, net of stock issuance costs

96

0

0

-

-

-

-

-

0

241

48

Tax payments related to share-based awards

1

2

2

4

0

-

-

-

-

-

-

Payments for Repurchase of Redeemable Preferred Stock

-

-

-

-

244

6

0

-

-

-

-

Investment in Contour

-

-

-

-

-

-

-

0

-

-

-

Purchase of interest - Non-controlling interest - preferred stock

-

-

-

-

-

-

-

0

-

-

-

Payments of Ordinary Dividends, Noncontrolling Interest

-

-

-

-

5

22

22

22

22

20

0

Dividends paid on common and preferred stock

43

37

28

24

20

13

7

7

4

6

19

Net cash provided by financing activities

2,583

514

1,704

-564

912

542

644

1,264

2,065

2,250

942

Net change in cash and cash equivalents

179

123

36

-944

-153

614

-36

-31

87

75

376

Cash paid during the period for:
Interest

365

268

161

-

-

-

-

-

-

-

-

Income taxes

23

30

39

-

-

-

-

-

-

-

-

Non-cash activity:
Real estate owned acquired through loan liquidation

0

0

5

-

-

-

-

-

-

-

-

Loans acquired and securitized as Farmer Mac Guaranteed Securities

321

382

519

-

-

-

-

-

-

-

-

Consolidation of Farmer Mac Guaranteed Securities from off-balance sheet to loans held for investment in consolidated trusts and to debt securities of consolidated trusts held by third parties

263

255

363

-

-

-

-

-

-

-

-

Reclassification of defaulted loans from loans held for investment in consolidated trusts to loans held for investment

5

7

5

-

-

-

-

-

-

-

-

Purchases of securities - traded, not yet settled

0

-1

1

-

-

-

-

-

-

-

-

Proceeds from Noncontrolling Interests

-

-

-

0

0

0

0

-

-

-

-

Debt Securities
Purchases of securities

2,166

1,221

979

1,753

-

-

-

-

-

-

-

Proceeds from repayment of securities

1,425

1,242

1,326

1,725

-

-

-

-

-

-

-

Proceeds from sale of available-for-sale investment securities

12

0

10

186

-

-

-

-

-

100

306

Farmer Mac Guaranteed Securities and USDA Securities
Purchases of securities

2,691

3,470

2,913

2,579

-

-

-

-

-

-

-

Proceeds from repayment of securities

2,190

2,813

1,063

1,834

-

-

-

-

-

-

-

Notes Payable to Banks
Proceeds from issuance of discount notes and medium-term notes

64,642

41,726

51,980

95,036

-

-

-

-

-

-

-

Payments to redeem notes

64,079

41,891

54,064

97,918

-

-

-

-

-

-

-

Medium-term Notes
Proceeds from issuance of discount notes and medium-term notes

10,195

7,692

8,600

6,519

-

-

-

-

-

-

-

Payments to redeem notes

7,970

6,834

4,675

4,083

-

-

-

-

-

-

-

Common Class C, Non-Voting [Member]
Payments for Repurchase of Common Stock

-

-

-

9

-

-

-

-

-

-

-