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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Interest income:    
Trading securities $ 427 $ 236
Available-for-sale securities 53 71
Mortgage loans (includes $28,445 and $26,298, respectively, related to consolidated trusts) 29,768 28,034
Federal funds sold and securities purchased under agreements to resell or similar arrangements 263 142
Other 32 31
Total interest income 30,543 28,514
Interest expense:    
Short-term debt (125) (107)
Long-term debt (includes $24,189 and $21,715, respectively, related to consolidated trusts) (25,685) (23,175)
Total interest expense (25,810) (23,282)
Net interest income 4,733 5,232
Benefit for credit losses 650 217
Net interest income after benefit for credit losses 5,383 5,449
Non-interest income (loss):    
Investment gains, net 133 250
Fair value gains (losses), net (831) 1,045
Fee and other income 227 320
Non-interest income (loss) (471) 1,615
Administrative expenses:    
Salaries and employee benefits (386) (381)
Professional services (225) (243)
Other administrative expenses (133) (126)
Total administrative expenses (744) (750)
Foreclosed property expense (140) (162)
Temporary Payroll Tax Cut Continuation Act of 2011 (“TCCA”) fees (593) (557)
Other expenses, net (408) (203)
Total expenses (1,885) (1,672)
Income before federal income taxes 3,027 5,392
Provision for federal income taxes (627) (1,131)
Other comprehensive loss:    
Changes in unrealized gains on available-for-sale securities, net of reclassification adjustments and taxes (36) (320)
Other, net of taxes (3) (3)
Total other comprehensive loss (39) (323)
Total comprehensive income 2,361 3,938
Net income 2,400 4,261
Dividends distributed or available for distribution to senior preferred stockholder (2,361) (938)
Net income attributable to common stockholders $ 39 $ 3,323
Earnings per share, Basic $ 0.01 $ 0.58
Earnings per share, Diluted $ 0.01 $ 0.56
Weighted-average common shares outstanding, Basic 5,762 5,762
Weighted-average common shares outstanding, Diluted 5,893 5,893