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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 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Interest income:        
Trading securities $ 222 $ 73 $ 448 $ 522
Available-for-sale securities 651 1,035 1,324 1,762
Mortgage loans (includes $24,847 and $28,424, respectively, for the three months ended and $50,241 and $57,425, respectively, for the six months ended related to consolidated trusts) 28,056 32,023 57,280 64,593
Other 49 40 106 78
Total interest income 28,978 33,171 59,158 66,955
Interest expense:        
Short-term debt 37 32 80 74
Long-term debt (includes $20,722 and $24,714, respectively, for the three months ended and $41,880 and $50,074, respectively, for the six months ended related to consolidated trusts) 23,274 27,711 47,107 56,256
Total interest expense 23,311 27,743 47,187 56,330
Net interest income 5,667 5,428 11,971 10,625
Benefit (provision) for credit losses 5,383 3,041 6,340 1,041
Net interest income (loss) after benefit (provision) for credit losses 11,050 8,469 18,311 11,666
Investment gains, net 290 131 408 247
Net other-than-temporary impairments (6) (599) (15) (663)
Fair value gains (losses), net 829 (2,449) 1,663 (2,166)
Debt extinguishment (losses) gains, net 27 (93) 4 (127)
Fee and other income (expense) 485 395 1,053 770
Non-interest income (loss) 1,625 (2,615) 3,113 (1,939)
Administrative expenses:        
Salaries and employee benefits 304 292 621 598
Professional services 219 179 442 347
Occupancy expenses 47 48 93 91
Other administrative expenses 56 48 111 95
Total administrative expenses 626 567 1,267 1,131
Foreclosed property (income) expense (332) (70) (592) 269
Other expenses 301 238 555 490
Total expenses 595 735 1,230 1,890
Income (loss) before federal income taxes 12,080 5,119 20,194 7,837
Benefit (Provision) for federal income taxes (1,985) 0 48,586 [1] 0
Net income (loss) 10,095 5,119 68,780 7,837
Other comprehensive income (loss):        
Changes in unrealized gains (losses) on available-for-sale securities, net of reclassification adjustments and taxes 17 320 665 675
Other 149 [2] 8 [2] 155 [2] 15 [2]
Total other comprehensive income (loss) 166 328 820 690
Total comprehensive income (loss) 10,261 5,447 69,600 8,527
Less: Comprehensive (income) loss attributable to the noncontrolling interest (11) (5) (11) (4)
Total comprehensive income (loss) attributable to Fannie Mae 10,250 5,442 69,589 8,523
Net income (loss) 10,095 5,119 68,780 7,837
Less: Net (income) loss attributable to noncontrolling interest (11) (5) (11) (4)
Net (loss) income attributable to Fannie Mae 10,084 5,114 68,769 7,833
Net income (loss) attributable to common stockholders (Note 11) (159) 2,185 (842) 2,087
Dividends distributed to senior preferred stockholder   (2,929) [3]   (5,746) [3]
Dividends distributed or available for distribution to senior preferred stockholder $ (10,243) [3]   $ (69,611) [3]  
Earnings (Loss) Per Share:        
Earnings (loss) per share, Basic $ (0.03) $ 0.38 $ (0.15) $ 0.36
Earnings (loss) per share, Diluted $ (0.03) $ 0.37 $ (0.15) $ 0.35
Weighted-average common shares outstanding:        
Weighted-average common shares outstanding, Basic 5,762 [4] 5,762 [4] 5,762 [4] 5,762 [4]
Weighted-average common shares outstanding, Diluted 5,762 [4] 5,893 [4] 5,762 [4] 5,893 [4]
[1] Primarily 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] Primarily represents activity from our defined benefit pension plans.
[3] Represents our required dividend payments to Treasury under the terms of the senior preferred stock purchase agreement. For the three months ended June 30, 2013, the dividend is calculated based on our net worth as of June 30, 2013 less the applicable capital reserve amount of $3.0 billion and for the six months ended June 30, 2013, we add dividends paid related to 2013 to this amount. For the three and six months ended June 30, 2012, an annual dividend rate of 10% on the aggregate liquidation preference was used to calculate the dividend.
[4] Includes 4.6 billion 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 June 30, 2013.