XML 34 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income:        
Investments in securities $ 1,101 $ 318 $ 2,082 $ 484
Mortgage loans 32,655 29,082 64,792 56,224
Other 584 55 1,036 87
Total interest income 34,340 29,455 67,910 56,795
Interest expense:        
Short-term debt (183) (5) (302) (6)
Long-term debt (27,122) (21,642) (53,787) (41,582)
Total interest expense (27,305) (21,647) (54,089) (41,588)
Net interest income 7,035 7,808 13,821 15,207
Benefit (provision) for credit losses 1,266 (218) 1,134 (458)
Net interest income after benefit (provision) for credit losses 8,301 7,590 14,955 14,749
Investment gains (losses), net 25 (49) (42) (151)
Fair value gains, net 404 529 608 1,009
Fee and other income 70 81 133 164
Non-interest income 499 561 699 1,022
Administrative expenses:        
Salaries and employee benefits (467) (398) (947) (805)
Professional services (192) (198) (376) (407)
Other administrative expenses (205) (199) (409) (391)
Total administrative expenses (864) (795) (1,732) (1,603)
TCCA fees (856) (841) (1,711) (1,665)
Credit enhancement expense (384) (332) (725) (610)
Change in expected credit enhancement recoveries (160) (47) (40) 13
Other expenses, net (257) (261) (387) (458)
Total expenses (2,521) (2,276) (4,595) (4,323)
Income before federal income taxes 6,279 5,875 11,059 11,448
Provision for federal income taxes (1,285) (1,222) (2,293) (2,387)
Net income 4,994 4,653 8,766 9,061
Other comprehensive income (loss) 1 (4) 1 (11)
Total comprehensive income 4,995 4,649 8,767 9,050
Dividends distributed or amounts attributable to senior preferred stock (4,995) (4,649) (8,767) (9,050)
Net income attributable to common stockholders, basic (1) 4 (1) 11
Net income attributable to common stockholders, diluted $ (1) $ 4 $ (1) $ 11
Earnings per share, Basic (in usd per share) $ (0.00) $ 0.00 $ (0.00) $ 0.00
Earnings per share, Diluted (in usd per share) $ (0.00) $ 0.00 $ (0.00) $ 0.00
Weighted-average common shares outstanding, Basic (shares) 5,867 5,867 5,867 5,867
Weighted-average common shares outstanding, Diluted (shares) 5,867 5,893 5,867 5,893