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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest income:        
Trading securities $ 176 $ 128 $ 318 $ 248
Available-for-sale securities 91 170 192 373
Mortgage loans (includes $25,033 and $23,866, respectively, for the three months ended and $49,987 and $48,492, respectively, for the six months ended related to consolidated trusts) 27,011 26,256 54,058 53,217
Other 115 46 209 94
Total interest income 27,393 26,600 54,777 53,932
Interest expense:        
Short-term debt 57 57 101 108
Long-term debt (includes $20,705 and $19,521, respectively, for the three months ended and $41,013 and $40,179, respectively, for the six months ended related to consolidated trusts) 22,334 21,257 44,328 43,769
Total interest expense 22,391 21,314 44,429 43,877
Net interest income 5,002 5,286 10,348 10,055
Benefit for credit losses 1,267 1,601 1,663 2,785
Net interest income after benefit for credit losses 6,269 6,887 12,011 12,840
Non-interest income (loss):        
Investment gains, net 385 398 376 467
Fair value losses, net (691) (1,667) (731) (4,480)
Fee and other income 353 174 602 377
Non-interest income (loss) 47 (1,095) 247 (3,636)
Administrative expenses:        
Salaries and employee benefits 332 331 676 695
Professional services 234 232 463 447
Occupancy expenses 47 46 93 91
Other administrative expenses 73 69 138 133
Total administrative expenses 686 678 1,370 1,366
Foreclosed property expense 34 63 251 397
Temporary Payroll Tax Cut Continuation Act of 2011 (“TCCA”) fees 518 453 1,021 893
Other expenses, net 291 254 673 518
Total expenses 1,529 1,448 3,315 3,174
Income before federal income taxes 4,787 4,344 8,943 6,030
Provision for federal income taxes (1,587) (1,398) (2,970) (1,948)
Net income 3,200 2,946 5,973 4,082
Other comprehensive loss:        
Changes in unrealized gains on available-for-sale securities, net of reclassification adjustments and taxes (81) (75) (73) (273)
Other (2) (2) (4) (4)
Total other comprehensive loss (83) (77) (77) (277)
Total comprehensive income 3,117 2,869 5,896 3,805
Net income 3,200 2,946 5,973 4,082
Dividends distributed or available for distribution to senior preferred stockholder (Note 9) (3,117) (2,869) (5,896) (3,788)
Net income attributable to common stockholders (Note 9) $ 83 $ 77 $ 77 $ 294
Earnings per share, Basic $ 0.01 $ 0.01 $ 0.01 $ 0.05
Earnings per share, Diluted $ 0.01 $ 0.01 $ 0.01 $ 0.05
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