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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, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Trading securities $ 418 $ 363 $ 1,277 $ 917
Available-for-sale securities 40 54 138 175
Mortgage loans (includes $27,610 and $27,058, respectively, for the three months ended and $84,157 and $79,877, respectively, for the nine months ended related to consolidated trusts) 28,858 28,723 88,005 85,064
Federal funds sold and securities purchased under agreements to resell or similar arrangements 178 166 698 457
Other 47 38 120 102
Total interest income 29,541 29,344 90,238 86,715
Interest expense:        
Short-term debt (125) (114) (369) (331)
Long-term debt (includes $22,775 and $22,361, respectively, for the three months ended and $70,371 and $65,972, respectively, for the nine months ended related to consolidated trusts) (24,187) (23,861) (74,757) (70,406)
Total interest expense (24,312) (23,975) (75,126) (70,737)
Net interest income 5,229 5,369 15,112 15,978
Benefit for credit losses 1,857 716 3,732 2,229
Net interest income after benefit for credit losses 7,086 6,085 18,844 18,207
Non-interest income (loss):        
Investment gains, net 253 166 847 693
Fair value gains (losses), net (713) 386 (2,298) 1,660
Fee and other income 402 271 875 830
Non-interest income (loss) (58) (823) 576 (3,183)
Administrative expenses:        
Salaries and employee benefits (361) (355) (1,123) (1,101)
Professional services (241) (247) (699) (744)
Other administrative expenses (147) (138) (415) (400)
Total administrative expenses (749) (740) (2,237) (2,245)
Foreclosed property expense (96) (159) (364) (460)
Temporary Payroll Tax Cut Continuation Act of 2011 (“TCCA”) fees (613) (576) (1,806) (1,698)
Other expenses, net (571) (377) (1,514) (946)
Total expenses (2,029) (1,852) (5,921) (5,349)
Income before federal income taxes 4,999 5,056 12,347 16,041
Provision for federal income taxes (1,036) (1,045) (2,552) (3,312)
Other comprehensive income (loss):        
Changes in unrealized gains on available-for-sale securities, net of reclassification adjustments and taxes 16 (33) (85) (349)
Other, net of taxes (2) (3) (7) (8)
Total other comprehensive income (loss) 14 (36) (92) (357)
Total comprehensive income 3,977 3,975 9,703 12,372
Net income 3,963 4,011 9,795 12,729
Dividends distributed or comprehensive income attributable to an increase in the senior preferred stock liquidation preference (3,977) (3,975) (9,703) (9,372)
Net income (loss) attributable to common stockholders $ (14) $ 36 $ 92 $ 3,357
Earnings per share, Basic $ 0.00 $ 0.01 $ 0.02 $ 0.58
Earnings per share, Diluted $ 0.00 $ 0.01 $ 0.02 $ 0.57
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