Fannie Mae 2006 Annual Report Download - page 237

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 (Loss)
(1)
Treasury
Stock
Total
Stockholders’
Equity
Shares Outstanding
Balance as of January 1, 2004 ............. 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) . ....... — — — — — — (897) — (897)
Reclassification adjustment for gains included
in net income (net of tax of $9) ....... — — — — — — (17) — (17)
Unrealized losses on guaranty assets and
guaranty fee buy-ups (net of tax of $4) . . . — — — — — — (8) — (8)
Net cash flow hedging losses (net of
taxof$1).................... — — — — — — (3) — (3)
Minimum pension liability (net of
taxof$2).................... — — — — — — (3) — (3)
Total comprehensive income . . . . . ....... 4,039
Common stock dividends ($2.08 per share) . . . . . — — — — — (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
Comprehensive income:
Net income . . . .................. — — — — — 6,347 — — 6,347
Other comprehensive income, net of tax effect:
Unrealized losses on available-for-sale
securities (net of tax of $2,238) ....... — — — — — — (4,156) — (4,156)
Reclassification adjustment for gains included
in net income (net of tax of $233) . . . . . . — — — — — — (432) — (432)
Unrealized gains on guaranty assets and
guaranty fee buy-ups (net of
tax of $39) . .................. — — — — — — 72 — 72
Net cash flow hedging losses (net of
taxof$2).................... — — — — — — (4) — (4)
Minimum pension liability (net of
taxof$1).................... — — — — — — 2 — 2
Total comprehensive income . . . . . ....... 1,829
Common stock dividends ($1.04 per share) . . . . . — — — — — (1,011) — — (1,011)
Preferred stock dividends . .............. — — — — — (486) — — (486)
Treasury stock issued for stock options and benefit
plans . . . ...................... — 2 — — (69) — — 137 68
Balance as of December 31, 2005 ........... 132 971 9,108 593 1,913 35,555 (131) (7,736) 39,302
Comprehensive income:
Net income . . . .................. — — — — — 4,059 — — 4,059
Other comprehensive income, net of tax effect:
Unrealized losses on available-for-sale
securities (net of tax of $73) . . ....... — — — — — — (135) — (135)
Reclassification adjustment for gains included
in net income (net of tax of $77) ....... — — — — — — (143) — (143)
Unrealized gains on guaranty assets and
guaranty fee buy-ups (net of tax of $23) . . . — — — — — — 43 — 43
Net cash flow hedging losses (net of
taxof$2).................... — — — — — — (3) — (3)
Minimum pension liability (net of
taxof$2).................... — — — — — — 4 — 4
Total comprehensive income . . . . . ....... 3,825
Adjustment to apply SFAS 158 (net of
taxof$55)...................... — — — — — (80) (80)
Common stock dividends ($1.18 per share) . . . . . — — — — — (1,148) — — (1,148)
Preferred stock dividends . .............. — — — — — (511) — — (511)
Treasury stock issued for stock options and benefit
plans . . . ...................... — 1 — — 29 — — 89 118
Balance as of December 31, 2006 ........... 132 972 $9,108 $593 $1,942 $37,955 $ (445) $(7,647) $41,506
(1)
Accumulated Other Comprehensive Income (Loss) is comprised of $577 million and $300 million in net unrealized losses on available-for-sale securities,
net of tax, and $4.3 billion of net unrealized gains on available-for-sale securities, net of tax, and $132 million, $169 million and $99 million in net
unrealized gains on all other components, net of tax, as of December 31, 2006, 2005 and 2004, respectively.
See Notes to Consolidated Financial Statements.
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