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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, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest income:        
Trading securities $ 363 $ 195 $ 917 $ 513
Available-for-sale securities 54 77 175 269
Mortgage loans (includes $27,058 and $25,168, respectively, for the three months ended and $79,877 and $75,155, respectively, for the nine months ended related to consolidated trusts) 28,723 27,047 85,064 81,105
Other 204 142 559 351
Total interest income 29,344 27,461 86,715 82,238
Interest expense:        
Short-term debt (114) (72) (331) (173)
Long-term debt (includes $22,361 and $20,609, respectively, for the three months ended and $65,972 and $61,622, respectively, for the nine months ended related to consolidated trusts) (23,861) (22,115) (70,406) (66,443)
Total interest expense (23,975) (22,187) (70,737) (66,616)
Net interest income 5,369 5,274 15,978 15,622
Benefit (provision) for credit losses 716 (182) 2,229 1,481
Net interest income after benefit (provision) for credit losses 6,085 5,092 18,207 17,103
Non-interest income (loss):        
Investment gains, net 166 313 693 689
Fair value gains (losses), net 386 (289) 1,660 (1,020)
Fee and other income 271 1,194 830 1,796
Non-interest income 823 1,218 3,183 1,465
Administrative expenses:        
Salaries and employee benefits (355) (331) (1,101) (1,007)
Professional services (247) (218) (744) (681)
Other administrative expenses (138) (115) (400) (346)
Total administrative expenses (740) (664) (2,245) (2,034)
Foreclosed property expense (159) (140) (460) (391)
Temporary Payroll Tax Cut Continuation Act of 2011 (“TCCA”) fees (576) (531) (1,698) (1,552)
Other expenses, net (377) (427) (946) (1,100)
Total expenses (1,852) (1,762) (5,349) (5,077)
Income before federal income taxes 5,056 4,548 16,041 13,491
Provision for federal income taxes (1,045) (1,525) (3,312) (4,495)
Net income 4,011 3,023 12,729 8,996
Other comprehensive income (loss):        
Changes in unrealized gains on available-for-sale securities, net of reclassification adjustments and taxes (33) 27 (349) (46)
Other (3) (2) (8) (6)
Total other comprehensive income (loss) (36) 25 (357) (52)
Total comprehensive income 3,975 3,048 12,372 8,944
Net income 4,011 3,023 12,729 8,996
Dividends distributed or available for distribution to senior preferred stockholder (3,975) (3,048) (9,372) (8,944)
Net income (loss) attributable to common stockholders $ 36 $ (25) $ 3,357 $ 52
Earnings per share, Basic $ 0.01 $ 0.00 $ 0.58 $ 0.01
Earnings per share, Diluted $ 0.01 $ 0.00 $ 0.57 $ 0.01
Weighted-average common shares outstanding, Basic 5,762 5,762 5,762 5,762
Weighted-average common shares outstanding, Diluted 5,893 5,762 5,893 5,893