NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP DC

For the period ended Feb 29, 2024. Filed Apr 12, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Feb 29, 2024 · Filed Apr 12, 2024

NRUC$19.67-1.8%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Consolidated Statements of Cash Flows (Unaudited)

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Dollars in thousands)	YTD FY2024	YTD FY2023
Cash flows from operating activities:
Net income	$407,508	$514,855
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred loan fees	(4,914)	(5,720)
Amortization of debt issuance costs and discounts	21,975	21,692
Amortization of guarantee fee	15,480	14,144
Depreciation and amortization	7,910	3,815
Provision (benefit) for credit losses	(5,131)	3,806
Loss on early extinguishment of debt	998	—
Unrealized (gains) losses on equity and debt securities	(13,736)	2,638
Derivative forward value gains	(183,372)	(330,035)
Advances on loans held for sale	(222,500)	(148,142)
Proceeds from sales of loans held for sale	207,500	191,942
Changes in operating assets and liabilities:
Accrued interest receivable	(16,725)	(50,438)
Accrued interest payable	84,557	101,740
Deferred income	758	1,929
Other	(33,115)	(25,648)
Net cash provided by operating activities	267,193	296,578
Cash flows from investing activities:
Advances on loans held for investment, net	(1,863,331)	(2,384,524)
Investments in fixed assets, net	(4,199)	(14,586)
Purchase of trading securities	—	(118,065)
Proceeds from sales and maturities of trading securities	147,608	125,268
Cash impact of VIE deconsolidation	(10,341)	—
Net cash used in investing activities	(1,730,263)	(2,391,907)
Cash flows from financing activities:
Proceeds from (repayments of) short-term borrowings ≤ 90 days, net	(360,558)	49,287
Proceeds from short-term borrowings with original maturity > 90 days	2,486,862	2,141,018
Repayments of short-term borrowings with original maturity > 90 days	(2,067,953)	(2,271,841)
Payments for issuance costs for revolving bank lines of credit	(2,612)	(2,108)
Proceeds from issuance of long-term debt, net of discount and issuance costs	3,634,422	4,069,959
Payments for retirement of long-term debt	(2,148,018)	(1,801,904)
Proceeds from issuance of subordinated debt	103,500	—
Payments for issuance costs for subordinated deferrable debt	(1,109)	—
Payments for retirement of subordinated deferrable debt	(100,000)	—
Proceeds from issuance of members’ subordinated certificates	98	6,127
Payments for retirement of members’ subordinated certificates	(25,109)	(16,873)
Payments for retirement of patronage capital	(110,202)	(59,189)
Repayments for membership fees, net	(431)	(1)
Net cash provided by financing activities	1,408,890	2,114,475
Net increase (decrease) in cash, cash equivalents and restricted cash	(54,180)	19,146
Beginning cash, cash equivalents and restricted cash	207,237	161,114
Ending cash, cash equivalents and restricted cash	$153,057	$180,260

NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(Dollars in thousands)	YTD FY2024	YTD FY2023
Supplemental disclosure of cash flow information:
Cash paid for interest	$881,859	$619,052
Cash paid for income taxes	395	201
Non-cash financing and investing activities:
Equity investment, at cost, obtained in exchange for loan held for investment	$—	$7,778

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.