NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/
For the period ended May 31, 2025. Filed Aug 5, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Aug 5, 2025
NRUC$19.67-1.8%Stored close · as of Nov 10, 2026
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Item 8. Financial Statements and Supplementary Data
| Page | |
|---|---|
| Report of Independent Registered Public Accounting Firm (PCAOB ID 185) | 81 |
| Consolidated Statements of Operations for the Years Ended May 31, 2025, 2024 and 2023 | 83 |
| Consolidated Statements of Comprehensive Income (Loss) for the Years Ended May 31, 2025, 2024 and 2023 | 84 |
| Consolidated Balance Sheets as of May 31, 2025 and 2024 | 85 |
| Consolidated Statements of Changes in Equity for the Years Ended May 31, 2025, 2024 and 2023 | 86 |
| Consolidated Statements of Cash Flows for the Years Ended May 31, 2025, 2024 and 2023 | 87 |
| Notes to Consolidated Financial Statements | 89 |
| Note 1 — Summary of Significant Accounting Policies | 89 |
| Note 2 — Interest Income and Interest Expense | 100 |
| Note 3 — Investment Securities | 100 |
| Note 4 — Loans | 102 |
| Note 5 — Allowance for Credit Losses | 113 |
| Note 6 — Short-Term Borrowings | 115 |
| Note 7 — Long-Term Debt | 116 |
| Note 8 — Subordinated Deferrable Debt | 119 |
| Note 9 — Members’ Subordinated Certificates | 120 |
| Note 10 — Derivative Instruments and Hedging Activities | 122 |
| Note 11 — Equity | 126 |
| Note 12 — Employee Benefits | 129 |
| Note 13 — Guarantees | 131 |
| Note 14 — Fair Value Measurement | 133 |
| Note 15 — Variable Interest Entities | 137 |
| Note 16 — Business Segments | 139 |
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