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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Interest income:    
Trading securities $ 226 $ 449
Available-for-sale securities 673 727
Mortgage loans (includes $25,394 and $29,001, respectively, related to consolidated trusts) 29,224 32,570
Other 57 38
Total interest income 30,180 33,784
Interest expense:    
Short-term debt 43 42
Long-term debt (includes $21,158 and $25,360, respectively, related to consolidated trusts) 23,833 28,545
Total interest expense 23,876 28,587
Net interest income 6,304 5,197
Benefit (provision) for credit losses 957 (2,000)
Net interest income (loss) after benefit (provision) for credit losses 7,261 3,197
Investment gains, net 118 116
Net other-than-temporary impairments (9) (64)
Fair value gains (losses), net 834 283
Debt extinguishment (losses) gains, net (23) (34)
Fee and other income (expense) 568 375
Non-interest income (loss) 1,488 676
Administrative expenses:    
Salaries and employee benefits 317 306
Professional services 223 168
Occupancy expenses 46 43
Other administrative expenses 55 47
Total administrative expenses 641 564
Foreclosed property (income) expense (260) 339
Other expenses 254 252
Total expenses 635 1,155
Income (loss) before federal income taxes 8,114 2,718
Benefit for federal income taxes 50,571 [1] 0
Net income (loss) 58,685 2,718
Other comprehensive income (loss):    
Changes in unrealized gains (losses) on available-for-sale securities, net of reclassification adjustments and taxes 648 355
Other 6 7
Total other comprehensive income (loss) 654 362
Total comprehensive income (loss) 59,339 3,080
Less: Comprehensive (income) loss attributable to the noncontrolling interest 0 1
Total comprehensive income (loss) attributable to Fannie Mae 59,339 3,081
Net income (loss) 58,685 2,718
Less: Net (income) loss attributable to noncontrolling interest 0 1
Net (loss) income attributable to Fannie Mae 58,685 2,719
Net income (loss) attributable to common stockholders (Note 11) (683) (98)
Dividends distributed to senior preferred stockholder   (2,817) [2]
Dividends available for distribution to senior preferred stockholder $ (59,368) [2] $ 0
Earnings (loss) per share, Basic $ (0.12) $ (0.02)
Earnings (loss) per share, Diluted $ (0.12) $ (0.02)
Weighted-average common shares outstanding:    
Weighted-average common shares outstanding, Basic 5,762 [3] 5,761 [3]
Weighted-average common shares outstanding, Diluted 5,762 [3] 5,761 [3]
[1] Represents the release of the valuation allowance for our deferred tax assets that primarily are directly attributable to each segment based on the nature of the item.
[2] Represents our required dividend payments to Treasury under the terms of the senior preferred stock purchase agreement, which are calculated based on our net worth as of March 31, 2013 less the applicable capital reserve amount of $3.0 billion for the three months ended March 31, 2013 and an annual dividend rate of 10% on the aggregate liquidation preference for the three months ended March 31, 2012.
[3] Includes 4.6 billion for the three months ended March 31, 2013 and 2012 of weighted-average shares of common stock that would be issued upon the full exercise of the warrant issued to Treasury from the date the warrant was issued through March 31, 2013.