XML 34 R4.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income:        
Investments in securities $ 1,075 $ 525 $ 3,157 $ 1,009
Mortgage loans 33,711 30,114 98,503 86,338
Other 629 211 1,665 298
Total interest income 35,415 30,850 103,325 87,645
Interest expense:        
Short-term debt (201) (17) (503) (23)
Long-term debt (27,994) (23,709) (81,781) (65,291)
Total interest expense (28,195) (23,726) (82,284) (65,314)
Net interest income 7,220 7,124 21,041 22,331
Benefit (provision) for credit losses 652 (2,536) 1,786 (2,994)
Net interest income after benefit (provision) for credit losses 7,872 4,588 22,827 19,337
Investment gains (losses), net 8 (172) (34) (323)
Fair value gains, net 795 292 1,403 1,301
Fee and other income 76 105 209 269
Non-interest income 879 225 1,578 1,247
Administrative expenses:        
Salaries and employee benefits (477) (439) (1,424) (1,244)
Professional services (211) (229) (587) (636)
Other administrative expenses (209) (202) (618) (593)
Total administrative expenses (897) (870) (2,629) (2,473)
TCCA fees (860) (850) (2,571) (2,515)
Credit enhancement expense (390) (364) (1,115) (974)
Change in expected credit enhancement recoveries (128) 290 (168) 303
Other expenses, net (535) (154) (922) (612)
Total expenses (2,810) (1,948) (7,405) (6,271)
Income before federal income taxes 5,941 2,865 17,000 14,313
Provision for federal income taxes (1,242) (429) (3,535) (2,816)
Net income 4,699 2,436 13,465 11,497
Other comprehensive loss (18) (3) (17) (14)
Total comprehensive income 4,681 2,433 13,448 11,483
Dividends distributed or amounts attributable to senior preferred stock (4,681) (2,433) (13,448) (11,483)
Net income attributable to common stockholders, basic 18 3 17 14
Net income attributable to common stockholders, diluted $ 18 $ 3 $ 17 $ 14
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) 5,893 5,893 5,893 5,893