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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income:        
Trading securities $ 195 $ 140 $ 513 $ 388
Available-for-sale securities 77 134 269 507
Mortgage loans (includes $25,168 and $23,254, respectively, for the three months ended and $75,155 and $71,746, respectively, for the nine months ended related to consolidated trusts) 27,047 25,611 81,105 78,828
Other 142 66 351 160
Total interest income 27,461 25,951 82,238 79,883
Interest expense:        
Short-term debt 72 56 173 164
Long-term debt (includes $20,609 and $18,814, respectively, for the three months ended and $61,622 and $58,993, respectively, for the nine months ended related to consolidated trusts) 22,115 20,460 66,443 64,229
Total interest expense 22,187 20,516 66,616 64,393
Net interest income 5,274 5,435 15,622 15,490
Benefit (provision) for credit losses (182) 673 1,481 3,458
Net interest income after benefit (provision) for credit losses 5,092 6,108 17,103 18,948
Non-interest income (loss):        
Investment gains, net 313 467 689 934
Fair value losses, net (289) (491) (1,020) (4,971)
Fee and other income 1,194 175 1,796 552
Non-interest income (loss) 1,218 151 1,465 (3,485)
Administrative expenses:        
Salaries and employee benefits 331 322 1,007 1,017
Professional services 218 237 681 684
Occupancy expenses 51 45 144 136
Other administrative expenses 64 57 202 190
Total administrative expenses 664 661 2,034 2,027
Foreclosed property expense 140 110 391 507
Temporary Payroll Tax Cut Continuation Act of 2011 (“TCCA”) fees 531 465 1,552 1,358
Other expenses, net 427 300 1,100 818
Total expenses 1,762 1,536 5,077 4,710
Income before federal income taxes 4,548 4,723 13,491 10,753
Provision for federal income taxes (1,525) (1,527) (4,495) (3,475)
Net income 3,023 3,196 8,996 7,278
Other comprehensive income (loss):        
Changes in unrealized gains on available-for-sale securities, net of reclassification adjustments and taxes 27 (205) (46) (478)
Other (2) (2) (6) (6)
Total other comprehensive income (loss) 25 (207) (52) (484)
Total comprehensive income 3,048 2,989 8,944 6,794
Net income 3,023 3,196 8,996 7,278
Dividends distributed or available for distribution to senior preferred stockholder (Note 9) (3,048) (2,977) (8,944) (6,765)
Net income (loss) attributable to common stockholders (Note 9) $ (25) $ 219 $ 52 $ 513
Earnings per share, Basic $ 0.00 $ 0.04 $ 0.01 $ 0.09
Earnings per share, Diluted $ 0.00 $ 0.04 $ 0.01 $ 0.09
Weighted-average common shares outstanding, Basic 5,762 5,762 5,762 5,762
Weighted-average common shares outstanding, Diluted 5,762 5,893 5,893 5,893