Fannie Mae 2004 Annual Report Download - page 257

FANNIE MAE
Consolidated Statements of Changes in Stockholders’ Equity
(Dollars and shares in millions, except per share amounts)
Preferred Common
Preferred
Stock
Common
Stock
Additional
Paid-In
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Income
Treasury
Stock
Total
Stockholders’
Equity
Shares Outstanding
Balance as of December 31, 2001, as previously reported . . . . . . . 46 997 $2,303 $593 $1,651 $26,175 $ (7,065) $(5,539) $18,118
Cumulative effect of restatement adjustments (net of tax of
$3.0 billion) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — 92 (7,041) 12,087 — 5,138
Balance as of December 31, 2001 (Restated) . . . . . . . . . . . . . . . 46 997 2,303 593 1,743 19,134 5,022 (5,539) 23,256
Comprehensive income:
Net income (Restated) . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — 3,914 — — 3,914
Other comprehensive income, net of tax effect:
Unrealized gains on available-for-sale securities (net of tax of
$3.6 billion) . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — — 6,647 — 6,647
Reclassification adjustment for gains included in net income . . . — — — — — — (43) — (43)
Unrealized losses on guaranty assets and guaranty fee buy-ups
(net of tax of $83 million) . . . . . . . . . . . . . . . . . . . . — — — — — — (154) — (154)
Net cash flow hedging losses . . . . . . . . . . . . . . . . . . . . — — — — — — (3) — (3)
Minimum pension liability (net of tax of $1 million) . . . . . . . — — — — — — (1) — (1)
Total comprehensive income (Restated) . . . . . . . . . . . . . . . . 10,360
Common stock dividends ($1.32 per share in 2002) . . . . . . . . . — — — — — (1,312) — — (1,312)
Preferred stock:
Preferred dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — (98) — — (98)
Preferred stock issued . . . . . . . . . . . . . . . . . . . . . . . . . 20 — 1,000 — (9) — — — 991
Preferred stock redeemed . . . . . . . . . . . . . . . . . . . . . . . (13) — (625) — — — — — (625)
Treasury stock:
Treasury stock acquired . . . . . . . . . . . . . . . . . . . . . . . . — (15) — — — — — (1,167) (1,167)
Treasury stock issued for stock options and benefit plans . . . . . . — 3 — — 67 — — 127 194
Treasury stock issued to Fannie Mae Foundation . . . . . . . . . . . — 4 — — 136 — — 164 300
Balance as of December 31, 2002 (Restated) . . . . . . . . . . . . . . . 53 989 2,678 593 1,937 21,638 11,468 (6,415) 31,899
Comprehensive income:
Net income (Restated) . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — 8,081 — — 8,081
Other comprehensive income, net of tax effect:
Unrealized losses on available-for-sale securities (net of tax of
$3.4 billion ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — — (6,278) — (6,278)
Reclassification adjustment for losses included in net income . . . — — — — — — 57 — 57
Unrealized gains on guaranty assets and guaranty fee buy-ups
(net of tax of $47 million) . . . . . . . . . . . . . . . . . . . . — — — — — — 88 — 88
Net cash flow hedging losses . . . . . . . . . . . . . . . . . . . . — — — — — — (18) — (18)
Minimum pension liability (net of tax of $1 million) . . . . . . . — — — — — — (2) — (2)
Total comprehensive income (Restated) . . . . . . . . . . . . . . . . 1,928
Common stock dividends ($1.68 per share in 2003) . . . . . . . . . . . — — — — — (1,646) — — (1,646)
Preferred stock:
Preferred dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — (150) — — (150)
Preferred stock issued . . . . . . . . . . . . . . . . . . . . . . . . . 29 — 1,430 — (13) — — — 1,417
Treasury stock:
Treasury stock acquired . . . . . . . . . . . . . . . . . . . . . . . . — (22) — — — — — (1,390) (1,390)
Treasury stock issued for stock options and benefit plans . . . . . . — 3 — — 61 — — 149 210
Balance as of December 31, 2003 (Restated) . . . . . . . . . . . . . . . 82 970 4,108 593 1,985 27,923 5,315 (7,656) 32,268
Comprehensive income:
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — 4,967 — — 4,967
Other comprehensive income, net of tax effect:
Unrealized losses on available-for-sale securities (net of tax of
$483 million ) . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — — (897) — (897)
Reclassification adjustment for gains included in net income . . . — — — — — — (17) — (17)
Unrealized losses on guaranty assets and guaranty fee buy-ups
(net of tax of $4 million) . . . . . . . . . . . . . . . . . . . . . — — — — — — (8) — (8)
Net cash flow hedging losses . . . . . . . . . . . . . . . . . . . . — — — — — — (3) — (3)
Minimum pension liability (net of tax of $2 million) . . . . . . . — — — — — — (3) — (3)
Total comprehensive income . . . . . . . . . . . . . . . . . . . . . . 4,039
Common stock dividends ($2.08 per share in 2004) . . . . . . . . . . . — — — — — (2,020) — — (2,020)
Preferred stock:
Preferred dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — (165) — — (165)
Preferred stock issued . . . . . . . . . . . . . . . . . . . . . . . . . 50 — 5,000 — (75) — — — 4,925
Treasury stock:
Treasury stock acquired . . . . . . . . . . . . . . . . . . . . . . . . — (7) — — — — — (523) (523)
Treasury stock issued for stock options and benefit plans . . . . . . — 6 — — 72 — — 306 378
Balance as of December 31, 2004 . . . . . . . . . . . . . . . . . . . . . 132 969 $9,108 $593 $1,982 $30,705 $ 4,387 $(7,873) $38,902
See Notes to Consolidated Financial Statements.
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