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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, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest income:        
Trading securities $ 318 $ 176 $ 554 $ 318
Available-for-sale securities 50 91 121 192
Mortgage loans (includes $26,521 and $25,033, respectively, for the three months ended and $52,819 and $49,987, respectively, for the six months ended related to consolidated trusts) 28,307 27,011 56,341 54,058
Other 182 115 355 209
Total interest income 28,857 27,393 57,371 54,777
Interest expense:        
Short-term debt (110) (57) (217) (101)
Long-term debt (includes $21,896 and $20,705, respectively, for the three months ended and $43,611 and $41,013, respectively, for the six months ended related to consolidated trusts) (23,370) (22,334) (46,545) (44,328)
Total interest expense (23,480) (22,391) (46,762) (44,429)
Net interest income 5,377 5,002 10,609 10,348
Benefit for credit losses 1,296 1,267 1,513 1,663
Net interest income after benefit for credit losses 6,673 6,269 12,122 12,011
Non-interest income (loss):        
Investment gains, net 277 385 527 376
Fair value gains (losses), net 229 (691) 1,274 (731)
Fee and other income 239 353 559 602
Non-interest income 745 47 2,360 247
Administrative expenses:        
Salaries and employee benefits (365) (332) (746) (676)
Professional services (254) (234) (497) (463)
Other administrative expenses (136) (120) (262) (231)
Total administrative expenses (755) (686) (1,505) (1,370)
Foreclosed property expense (139) (34) (301) (251)
Temporary Payroll Tax Cut Continuation Act of 2011 (“TCCA”) fees (565) (518) (1,122) (1,021)
Other expenses, net (366) (291) (569) (673)
Total expenses (1,825) (1,529) (3,497) (3,315)
Income before federal income taxes 5,593 4,787 10,985 8,943
Provision for federal income taxes (1,136) (1,587) (2,267) (2,970)
Net income 4,457 3,200 8,718 5,973
Other comprehensive income (loss):        
Changes in unrealized gains on available-for-sale securities, net of reclassification adjustments and taxes 4 (81) (316) (73)
Other (2) (2) (5) (4)
Total other comprehensive income (loss) 2 (83) (321) (77)
Total comprehensive income 4,459 3,117 8,397 5,896
Net income 4,457 3,200 8,718 5,973
Dividends distributed or available for distribution to senior preferred stockholder (4,459) (3,117) (5,397) (5,896)
Net income (loss) attributable to common stockholders $ (2) $ 83 $ 3,321 $ 77
Earnings per share, Basic $ 0.00 $ 0.01 $ 0.58 $ 0.01
Earnings per share, Diluted $ 0.00 $ 0.01 $ 0.56 $ 0.01
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