NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/
For the period ended Aug 31, 2026. Filed Oct 13, 2026.
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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.
Aug 31, 2026 · Filed Oct 13, 2026
NRUC$19.67-1.8%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows (Unaudited)
CONSOLIDATED STATEMENTS OF CASH FLOWS
| (Dollars in thousands) | Q1 FY2027 | Q1 FY2026 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income | $135,426 | $4,682 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Amortization of deferred loan fees | (613) | (670) |
| Amortization of debt issuance costs and discounts | 9,438 | 8,725 |
| Amortization of guarantee fee | 4,077 | 4,922 |
| Depreciation and amortization | 3,748 | 3,394 |
| Provision for credit losses | 3,875 | 1,587 |
| Unrealized gains on equity and debt securities | (1,587) | (1,573) |
| Derivative forward value (gains) losses | (82,586) | 52,471 |
| Advances on loans held for sale | (166,900) | (144,500) |
| Proceeds from sales of loans held for sale | 168,400 | 157,700 |
| Changes in operating assets and liabilities: | ||
| Accrued interest receivable | 79,015 | (3,717) |
| Accrued interest payable | (1,766) | 20,005 |
| Deferred income | (224) | 535 |
| Other | (19,094) | (21,249) |
| Net cash provided by operating activities | 131,209 | 82,312 |
| Cash flows from investing activities: | ||
| (Advances) repayments on loans held for investment, net | 84,257 | (502,360) |
| Investments in fixed assets, net | (255) | (320) |
| Proceeds from sales and maturities of trading securities | 3,586 | 38,920 |
| Principal payments received under sales-type leases | 270 | 223 |
| Net cash provided by (used in) investing activities | 87,858 | (463,537) |
| Cash flows from financing activities: | ||
| Repayments of short-term borrowings ≤ 90 days, net | (510,414) | (338,611) |
| Proceeds from short-term borrowings with original maturity > 90 days | 601,864 | 553,305 |
| Repayments of short-term borrowings with original maturity > 90 days | (462,133) | (469,407) |
| Payments for issuance costs for revolving bank lines of credit | (764) | (723) |
| Proceeds from issuance of long-term debt, net of discounts and issuance costs | 853,932 | 1,243,993 |
| Payments for retirement of long-term debt | (746,459) | (485,581) |
| Proceeds from issuance of subordinated debt | — | 3,305 |
| Payments for issuance costs for subordinated deferrable debt | (79) | (105) |
| Payments for retirement of subordinated deferrable debt | (75) | — |
| Payments for retirement of members’ subordinated certificates | (893) | (2,235) |
| Additions (repayments) for membership fees, net | (1) | 1 |
| Repayments of finance leases | (271) | (224) |
| Net cash (used in) provided by financing activities | (265,293) | 503,718 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (46,226) | 122,493 |
| Beginning cash, cash equivalents and restricted cash | 257,418 | 143,122 |
| Ending cash, cash equivalents and restricted cash | $211,192 | $265,615 |
CONSOLIDATED STATEMENTS OF CASH FLOWS
| (Dollars in thousands) | Q1 FY2027 | Q1 FY2026 |
|---|---|---|
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $374,733 | $346,423 |
| Cash paid for income taxes | 586 | 7 |
| Noncash investing and financing activities: | ||
| Finance lease ROU assets obtained in exchange for lease obligations | $67 | $340 |
| Recognition of net investments in lease through exchange of lease ROU assets | 67 | 340 |
| Derecognition of lease ROU assets | (67) | (340) |
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