XML 57 R83.htm IDEA: XBRL DOCUMENT v2.4.0.6
Segment Reporting (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Segment Reporting Information [Line Items]        
Net interest (loss) income $ 5,317 $ 5,186 $ 15,942 $ 15,118
Benefit (provision) for credit losses (2,079) (4,151) [1] (1,038) (21,242) [1]
Net interest income (loss) after benefit (provision) for credit losses 3,238 1,035 14,904 (6,124)
Guaranty fee income (expense) 56 [2] 49 [2] 176 [2] 149 [2]
Investment gains (losses), net 134 73 381 319
Net other-than-temporary impairments (38) (262) (701) (362)
Fair value gains (losses), net (1,020) (4,525) (3,186) (5,870)
Debt extinguishment (losses) gains, net (54) (119) (181) (149)
Gains (losses) from partnership investments 35 [3] (30) [3] 68 [3] (7) [3]
Fee and other income (expense) 322 242 972 644
Administrative expenses (588) (591) (1,719) (1,765)
Foreclosed property income (expense) 48 (733) (221) (743)
Other (expenses) income (320) (224) (843) (631)
Income (loss) before federal income taxes 1,813 (5,085) 9,650 (14,539)
Benefit (provision) for federal income taxes 0 0 0 91
Net income (loss) 1,813 (5,085) 9,650 (14,448)
Less: Net (income) loss attributable to the noncontrolling interest 8 0 4 (1)
Net (loss) income attributable to Fannie Mae 1,821 (5,085) 9,654 (14,449)
Single-Family [Member]
       
Segment Reporting Information [Line Items]        
Net interest (loss) income (192) (374) (786) (1,952)
Benefit (provision) for credit losses (2,176) (4,072) [1] (1,273) (21,104) [1]
Net interest income (loss) after benefit (provision) for credit losses (2,368) (4,446) (2,059) (23,056)
Guaranty fee income (expense) 2,014 1,867 5,895 5,618
Investment gains (losses), net 5 3 8 (2)
Net other-than-temporary impairments 0 0 0 0
Fair value gains (losses), net (1) (2) (5) (5)
Debt extinguishment (losses) gains, net 0 0 0 0
Gains (losses) from partnership investments 0 0 0 0
Fee and other income (expense) 181 136 588 397
Administrative expenses (397) (409) (1,159) (1,225)
Foreclosed property income (expense) 46 (710) (227) (717)
Other (expenses) income (290) (184) (765) (579)
Income (loss) before federal income taxes (810) (3,745) 2,276 (19,569)
Benefit (provision) for federal income taxes (12) (1) (12) 106
Net income (loss) (822)   2,264 (19,463)
Less: Net (income) loss attributable to the noncontrolling interest 0   0 0
Net (loss) income attributable to Fannie Mae (822) (3,746) 2,264 (19,463)
Multifamily [Member]
       
Segment Reporting Information [Line Items]        
Net interest (loss) income (1) (7) (14) (27)
Benefit (provision) for credit losses 97 (79) [1] 235 (138) [1]
Net interest income (loss) after benefit (provision) for credit losses 96 (86) 221 (165)
Guaranty fee income (expense) 265 226 760 651
Investment gains (losses), net 11 5 23 10
Net other-than-temporary impairments 0 0 0 0
Fair value gains (losses), net 0 0 0 0
Debt extinguishment (losses) gains, net 0 0 0 0
Gains (losses) from partnership investments 43 (30) 72 (8)
Fee and other income (expense) 55 51 151 166
Administrative expenses (70) (62) (194) (194)
Foreclosed property income (expense) 2 (23) 6 (26)
Other (expenses) income (7) (9) (7) 33
Income (loss) before federal income taxes 395 72 1,032 467
Benefit (provision) for federal income taxes 32 0 32 (61)
Net income (loss) 427   1,064 406
Less: Net (income) loss attributable to the noncontrolling interest 0   0 0
Net (loss) income attributable to Fannie Mae 427 72 1,064 406
Capital Markets [Member]
       
Segment Reporting Information [Line Items]        
Net interest (loss) income 3,247 3,904 10,231 11,481
Benefit (provision) for credit losses 0 0 [1] 0 0 [1]
Net interest income (loss) after benefit (provision) for credit losses 3,247 3,904 10,231 11,481
Guaranty fee income (expense) (319) (369) (977) (1,159)
Investment gains (losses), net 2,201 801 4,666 2,589
Net other-than-temporary impairments (38) (262) (699) (361)
Fair value gains (losses), net (961) (4,670) (3,252) (5,959)
Debt extinguishment (losses) gains, net (46) (107) (218) (186)
Gains (losses) from partnership investments 0 0 0 0
Fee and other income (expense) 185 125 551 309
Administrative expenses (121) (120) (366) (346)
Foreclosed property income (expense) 0 0 0 0
Other (expenses) income (6) (14) (17) (32)
Income (loss) before federal income taxes 4,142 (712) 9,919 6,336
Benefit (provision) for federal income taxes (20) 1 (20) 46
Net income (loss) 4,122   9,899 6,382
Less: Net (income) loss attributable to the noncontrolling interest 0   0 0
Net (loss) income attributable to Fannie Mae 4,122 (711) 9,899 6,382
Consolidated Trusts [Member]
       
Segment Reporting Information [Line Items]        
Net interest (loss) income 1,778 [4] 1,210 [4] 5,078 [4] 4,098 [4]
Benefit (provision) for credit losses 0 [4] 0 [1],[4] 0 [4] 0 [1],[4]
Net interest income (loss) after benefit (provision) for credit losses 1,778 [4] 1,210 [4] 5,078 [4] 4,098 [4]
Guaranty fee income (expense) (1,219) [2],[4] (1,124) [2],[4] (3,584) [2],[4] (3,350) [2],[4]
Investment gains (losses), net (64) [4] (89) [4] 50 [4] (258) [4]
Net other-than-temporary impairments 0 [4] 0 [4] (2) [4] (1) [4]
Fair value gains (losses), net (58) [4] (17) [4] (66) [4] (122) [4]
Debt extinguishment (losses) gains, net (8) [4] (12) [4] 37 [4] 37 [4]
Gains (losses) from partnership investments 0 [4] 0 [4] 0 [4] 0 [4]
Fee and other income (expense) (94) [4] (67) [4] (302) [4] (222) [4]
Administrative expenses 0 [4] 0 [4] 0 [4] 0 [4]
Foreclosed property income (expense) 0 [4] 0 [4] 0 [4] 0 [4]
Other (expenses) income 0 [4] 0 [4] 0 [4] 0 [4]
Income (loss) before federal income taxes 335 [4] (99) [4] 1,211 [4] 182 [4]
Benefit (provision) for federal income taxes 0 [4] 0 [4] 0 [4] 0 [4]
Net income (loss) 335 [4]   1,211 [4] 182 [4]
Less: Net (income) loss attributable to the noncontrolling interest 0 [4]   0 [4] 0 [4]
Net (loss) income attributable to Fannie Mae 335 [4] (99) [4] 1,211 [4] 182 [4]
Eliminations/Adjustments [Member]
       
Segment Reporting Information [Line Items]        
Net interest (loss) income 485 [5],[6] 453 [5],[6] 1,433 [5],[6] 1,518 [5],[6]
Benefit (provision) for credit losses 0 [5] 0 [1],[5] 0 [5] 0 [1],[5]
Net interest income (loss) after benefit (provision) for credit losses 485 [5] 453 [5] 1,433 [5] 1,518 [5]
Guaranty fee income (expense) (685) [2],[5] (551) [2],[5] (1,918) [2],[5] (1,611) [2],[5]
Investment gains (losses), net (2,019) [5],[7] (647) [5],[7] (4,366) [5],[7] (2,020) [5],[7]
Net other-than-temporary impairments 0 [5] 0 [5] 0 [5] 0 [5]
Fair value gains (losses), net 0 [5],[8] 164 [5],[8] 137 [5],[8] 216 [5],[8]
Debt extinguishment (losses) gains, net 0 [5] 0 [5] 0 [5] 0 [5]
Gains (losses) from partnership investments (8) [5] 0 [5] (4) [5] 1 [5]
Fee and other income (expense) (5) [5] (3) [5] (16) [5] (6) [5]
Administrative expenses 0 [5] 0 [5] 0 [5] 0 [5]
Foreclosed property income (expense) 0 [5] 0 [5] 0 [5] 0 [5]
Other (expenses) income (17) [5] (17) [5] (54) [5] (53) [5]
Income (loss) before federal income taxes (2,249) [5] (601) [5] (4,788) [5] (1,955) [5]
Benefit (provision) for federal income taxes 0 [5] 0 [5] 0 [5] 0 [5]
Net income (loss) (2,249) [5]   (4,788) [5] (1,955) [5]
Less: Net (income) loss attributable to the noncontrolling interest 8 [5],[9]   4 [5],[9] (1) [5],[9]
Net (loss) income attributable to Fannie Mae $ (2,241) [5] $ (601) [5] $ (4,784) [5] $ (1,956) [5]
[1] Prior period amounts have been reclassified to conform to the current period presentation.
[2] Represents the guaranty fees paid from consolidated trusts to the Single-Family and Multifamily segments. The adjustment to guaranty fee income in the Eliminations/Adjustments column represents the elimination of the amortization of deferred cash fees related to consolidated trusts that were re-established for segment reporting. Total guaranty fee income is included in fee and other income in our condensed consolidated statements of operations and comprehensive income (loss).
[3] Gains (losses) from partnership investments are included in other expenses in our condensed consolidated statements of operations and comprehensive income (loss).
[4] Represents activity related to the assets and liabilities of consolidated trusts in our condensed consolidated balance sheets.
[5] Represents the elimination of intercompany transactions occurring between the three business segments and our consolidated trusts, as well as other adjustments to reconcile to our consolidated results.
[6] Represents the amortization expense of cost basis adjustments on securities that we own in our portfolio that on a GAAP basis are eliminated.
[7] Primarily represents the removal of realized gains and losses on sales of Fannie Mae MBS classified as available-for-sale securities that are issued by consolidated trusts and retained in the Capital Markets portfolio. The adjustment also includes the removal of securitization gains (losses) recognized in the Capital Markets segment relating to portfolio securitization transactions that do not qualify for sale accounting under GAAP.
[8] Represents the removal of fair value adjustments on consolidated Fannie Mae MBS classified as trading that are retained in the Capital Markets portfolio.
[9] Represents the adjustment from equity method accounting to consolidation accounting for partnership investments that are consolidated in our condensed consolidated balance sheets.