XML 17 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income:        
Trading securities $ 128 $ 116 $ 248 $ 231
Available-for-sale securities 170 294 373 670
Mortgage loans (includes $23,866 and $24,267, respectively, for the three months ended and $48,492 and $48,889, respectively, for the six months ended related to consolidated trusts) 26,256 26,682 53,217 53,726
Other 46 34 94 67
Total interest income 26,600 27,126 53,932 54,694
Interest expense:        
Short-term debt 57 33 108 62
Long-term debt (includes $19,521 and $19,528, respectively, for the three months ended and $40,179 and $40,043, respectively, for the six months ended related to consolidated trusts) 21,257 21,416 43,769 43,888
Total interest expense 21,314 21,449 43,877 43,950
Net interest income 5,286 5,677 10,055 10,744
Benefit (provision) for credit losses 1,601 (1,033) 2,785 (500)
Net interest income after benefit (provision) for credit losses 6,887 4,644 12,840 10,244
Non-interest income (loss):        
Investment gains, net 398 514 467 856
Fair value gains (losses), net (1,667) 2,606 (4,480) 687
Fee and other income 174 556 377 864
Non-interest income (loss) (1,095) 3,676 (3,636) 2,407
Administrative expenses:        
Salaries and employee benefits 331 331 695 682
Professional services 232 251 447 522
Occupancy expenses 46 43 91 86
Other administrative expenses 69 64 133 122
Total administrative expenses 678 689 1,366 1,412
Foreclosed property expense 63 182 397 655
Temporary Payroll Tax Cut Continuation Act of 2011 (“TCCA”) fees 453 397 893 779
Other expenses, net 254 202 518 197
Total expenses 1,448 1,470 3,174 3,043
Income before federal income taxes 4,344 6,850 6,030 9,608
Provision for federal income taxes (1,398) (2,210) (1,948) (3,080)
Net income 2,946 4,640 4,082 6,528
Other comprehensive loss:        
Changes in unrealized gains on available-for-sale securities, net of reclassification adjustments and taxes (75) (280) (273) (371)
Other (2) (1) (4) (2)
Total other comprehensive loss (77) (281) (277) (373)
Total comprehensive income attributable to Fannie Mae 2,869 4,359 3,805 6,155
Net income attributable to Fannie Mae 2,946 4,640 4,082 6,528
Dividends distributed or available for distribution to senior preferred stockholder (Note 10) (2,869) (4,359) (3,788) (6,155)
Net income attributable to common stockholders (Note 10) $ 77 $ 281 $ 294 $ 373
Earnings per share, basic (in dollars per share) $ 0.01 $ 0.05 $ 0.05 $ 0.06
Earnings per share, diluted (in dollars per share) $ 0.01 $ 0.05 $ 0.05 $ 0.06
Weighted-average common shares outstanding, basic 5,762 5,762 5,762 5,762
Weighted-average common shares outstanding, diluted 5,893 5,893 5,893 5,893