联邦农业抵押贷款-C 2024年度报告

For the fiscal year endedDecember31, 2024 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934 For the transition period from _____ to _____. Commission File Number001-14951 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act:Class B voting common stock Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YesoNox Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section 15(d) of the Act. YesoNox Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant wasrequired to file such reports), and (2)has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for suchshorter period that the registrant was required to submit such files). Yes☒ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company.See the definitions of "large accelerated filer," "acceleratedfiler," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of theExchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of theeffectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements ofthe registrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis ofincentive-based compensation received by any of the registrant’s executive officers during the relevant recovery periodpursuant to §240.10D-1(b)☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). The aggregate market value of the Class A voting common stock and Class C non-voting common stock held by non-affiliates of the registrant was $1,754,045,827as of June30, 2024, the last business day of the registrant's most recentlycompleted second fiscal quarter, based upon the closing prices for the respective classes on June30, 2024 reported by theNew York Stock Exchange.For purposes of this information, the outstanding shares of Class A voting common stock andClass C non-voting common stock held by directors, executive officers, and significant stockholders of the registrant, asapplicable, as of June 30, 2024 were deemed to be held by affiliates.The aggregate market value of the Class B votingcommon stock is not ascertainable due to the absence of publicly available quotations or prices for the Class B votingcommon stock as a result of the limited market for, and infrequency of trades in, Class B voting common stock and thefact that any such trades are privately negotiated transactions. As of February7, 2025, the registrant had outstanding1,030,780shares of Class A voting common stock,500,301sharesof ClassB voting common stock, and9,360,484shares of ClassC non-voting common stock. DOCUMENTS INCORPORATED BY REFERENCECertain information contained in the registrant's Proxy Statement for the 2025 Annual Meeting of Stockholders is incorporated herein by reference in Part III of this Annual Report on Form 10-K. The Proxy Statement will be filed withthe Securities and Exchange Commission within 120 days after the end of the registrant's fiscal year to which this reportrelates. Auditor Firm ID:238Auditor Name:PricewaterhouseCoopers LLPAuditor Location:Washington DC, USA Table of Contents Forward-Looking Statements4PART IItem 1.Business6General6Farmer Mac's Linesof Business8Competition18Capital and Corporate Governance19Human Capital21Available Information24Funding of Guarantee and LTSPC Obligations24Financing25Debt Issuance25Equity Issuance25Farmer M