NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/

For the period ended Nov 30, 2025. Filed Jan 13, 2026.

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.

Nov 30, 2025 · Filed Jan 13, 2026

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

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Contents

Consolidated Statements of Operations (Unaudited)

CONSOLIDATED STATEMENTS OF OPERATIONS

(Dollars in thousands)	Q2 FY2026	Q2 FY2025	YTD FY2026	YTD FY2025
Interest income	$445,674	$419,877	$893,120	$837,996
Interest expense	(373,666)	(354,443)	(750,135)	(710,903)
Net interest income	72,008	65,434	142,985	127,093
Provision for credit losses	(1,221)	(870)	(2,808)	(1,823)
Net interest income after provision for credit losses	70,787	64,564	140,177	125,270
Non-interest income (loss):
Fee and other income	6,687	5,424	13,762	11,092
Derivative gains (losses)	(18,641)	109,038	(50,845)	(89,287)
Investment securities gains (losses)	(1,027)	2,097	418	6,228
Total non-interest income (loss)	(12,981)	116,559	(36,665)	(71,967)
Non-interest expense:
Salaries and employee benefits	(19,262)	(17,439)	(39,238)	(34,627)
Other general and administrative expenses	(18,221)	(18,488)	(39,014)	(37,592)
Other non-interest expense	(759)	(247)	(1,034)	(565)
Total non-interest expense	(38,242)	(36,174)	(79,286)	(72,784)
Income (loss) before income taxes	19,564	144,949	24,226	(19,481)
Income tax (provision) benefit	(6)	(146)	14	(42)
Net income (loss)	19,558	144,803	24,240	(19,523)
Less: Net (income) loss attributable to noncontrolling interests	39	(360)	123	122
Net income (loss) attributable to CFC	$19,597	$144,443	$24,363	$(19,401)

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.