Freddie Mac 2010 Annual Report Download - page 178

FREDDIE MAC
CONSOLIDATED BALANCE SHEETS
2010 2009
December 31,
(in millions,
except share-related
amounts)
Assets
Cash and cash equivalents (includes $1 at December 31, 2010 related to our consolidated VIEs). . . .............. $ 37,012 $ 64,683
Restricted cash and cash equivalents (includes $7,514 at December 31, 2010 related to our consolidated VIEs) ....... 8,111 527
Federal funds sold and securities purchased under agreements to resell (includes $29,350 at December 31, 2010 related
to our consolidated VIEs) . . ............................................................. 46,524 7,000
Investments in securities:
Available-for-sale, at fair value (includes $817 and $10,879, respectively, pledged as collateral that may be
repledged) . . . . . . . . . . . ............................................................. 232,634 384,684
Trading, at fair value . . . . . ............................................................. 60,262 222,250
Total investments in securities ............................................................ 292,896 606,934
Mortgage loans:
Held-for-investment, at amortized cost:
By consolidated trusts (net of allowances for loan losses of $11,644 at December 31, 2010) . . .............. 1,646,172 —
Unsecuritized (net of allowances for loan losses of $28,047 and $1,441, respectively) ..................... 192,310 111,565
Total held-for-investment mortgage loans, net .............................................. 1,838,482 111,565
Held-for-sale, at lower-of-cost-or-fair-value (includes $6,413 and $2,799 at fair value, respectively) . . . . ......... 6,413 16,305
Total mortgage loans, net ............................................................... 1,844,895 127,870
Accrued interest receivable (includes $6,895 at December 31, 2010 related to our consolidated VIEs) . . . . ......... 8,713 3,376
Derivative assets, net . . . . . . . ............................................................. 143 215
Real estate owned, net (includes $118 at December 31, 2010 related to our consolidated VIEs) . . . .............. 7,068 4,692
Deferred tax assets, net . . . . . ............................................................. 5,543 11,101
Other assets (Note 23) (includes $6,001 at December 31, 2010 related to our consolidated VIEs) . . .............. 10,875 15,386
Total assets ......................................................................... $2,261,780 $841,784
Liabilities and equity (deficit)
Liabilities
Accrued interest payable (includes $6,502 at December 31, 2010 related to our consolidated VIEs) . .............. $ 10,286 $ 5,047
Debt, net:
Debt securities of consolidated trusts held by third parties . . . . . .................................... 1,528,648 —
Other debt (includes $4,443 and $8,918 at fair value, respectively) ................................... 713,940 780,604
Total debt, net ....................................................................... 2,242,588 780,604
Derivative liabilities, net . . . . ............................................................. 1,209 589
Other liabilities (Note 23) (includes $3,851 at December 31, 2010 related to our consolidated VIEs) .............. 8,098 51,172
Total liabilities ...................................................................... 2,262,181 837,412
Commitments and contingencies (Notes 1, 10, 12, and 21)
Equity (deficit)
Freddie Mac stockholders’ equity (deficit)
Senior preferred stock, at redemption value . . . ................................................ 64,200 51,700
Preferred stock, at redemption value . ....................................................... 14,109 14,109
Common stock, $0.00 par value, 4,000,000,000 shares authorized, 725,863,886 shares issued and 649,179,789 shares
and 648,369,668 shares outstanding, respectively.............................................. — —
Additional paid-in capital . . ............................................................. 7 57
Retained earnings (accumulated deficit) ..................................................... (62,733) (33,921)
AOCI, net of taxes, related to:
Available-for-sale securities (includes $10,740 and $15,947, respectively, net of taxes, of other-than-temporary
impairments) . . . . . . . ............................................................. (9,678) (20,616)
Cash flow hedge relationships . . . ....................................................... (2,239) (2,905)
Defined benefit plans . . . ............................................................. (114) (127)
Total AOCI, net of taxes ............................................................. (12,031) (23,648)
Treasury stock, at cost, 76,684,097 shares and 77,494,218 shares, respectively ........................... (3,953) (4,019)
Total Freddie Mac stockholders’ equity (deficit) ............................................. (401) 4,278
Noncontrolling interest. . . . . . ............................................................. — 94
Total equity (deficit) ................................................................... (401) 4,372
Total liabilities and equity (deficit) ......................................................... $2,261,780 $841,784
The accompanying notes are an integral part of these consolidated financial statements.
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