Freddie Mac 2014 Annual Report Download - page 149

144 Freddie Mac
FREDDIE MAC
CONSOLIDATED BALANCE SHEETS
December 31, 2014 December 31, 2013
(in millions,
except share-related amounts)
Assets
Cash and cash equivalents (includes $2 and $1, respectively, related to our consolidated VIEs) $ 10,928 $ 11,281
Restricted cash and cash equivalents (includes $8,532 and $12,193, respectively, related to our
consolidated VIEs) 8,535 12,265
Federal funds sold and securities purchased under agreements to resell (includes $13,500 and
$3,150, respectively, related to our consolidated VIEs) 51,903 62,383
Investments in securities:
Available-for-sale, at fair value (includes $9 and $70, respectively, pledged as collateral that may
be repledged) 106,550 128,919
Trading, at fair value (includes $1,884 and $365, respectively, pledged as collateral that may be
repledged) 30,437 23,404
Total investments in securities 136,987 152,323
Mortgage loans:
Held-for-investment, at amortized cost:
By consolidated trusts (net of allowances for loan losses of $2,884 and $3,006, respectively) 1,558,094 1,529,905
Unsecuritized (net of allowances for loan losses of $18,877 and $21,612, respectively) 130,118 146,158
Total held-for-investment mortgage loans, net 1,688,212 1,676,063
Held-for-sale, at lower-of-cost-or-fair-value (includes $12,130 and $8,727 at fair value,
respectively) 12,368 8,727
Total mortgage loans, net 1,700,580 1,684,790
Accrued interest receivable (includes $5,124 and $5,111, respectively, related to our consolidated
VIEs) 6,034 6,150
Derivative assets, net 822 1,063
Real estate owned, net (includes $44 and $49, respectively, related to our consolidated VIEs) 2,558 4,551
Deferred tax assets, net 19,498 22,716
Other assets (Note 19) (includes $2,596 and $2,172, respectively, related to our consolidated VIEs) 7,694 8,539
Total assets $ 1,945,539 $ 1,966,061
Liabilities and equity
Liabilities
Accrued interest payable (includes $4,702 and $4,702, respectively, related to our consolidated
VIEs) $ 6,325 $ 6,803
Debt, net:
Debt securities of consolidated trusts held by third parties (includes $42 and $59 at fair value,
respectively) 1,479,473 1,433,984
Other debt (includes $5,820 and $2,683 at fair value, respectively) 450,069 506,767
Total debt, net 1,929,542 1,940,751
Derivative liabilities, net 1,963 180
Other liabilities (Note 19) (includes $1 and $6, respectively, related to our consolidated VIEs) 5,058 5,492
Total liabilities 1,942,888 1,953,226
Commitments and contingencies (Notes 9, 14, and 17)
Equity
Senior preferred stock, at redemption value 72,336 72,336
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
650,043,899 shares and 650,039,533 shares outstanding, respectively — —
Additional paid-in capital — —
Retained earnings (accumulated deficit) (81,639) (69,719)
AOCI, net of taxes, related to:
Available-for-sale securities (includes $839 and ($1,100), respectively, related to net unrealized
gains (losses) on securities for which other-than-temporary impairment has been recognized in
earnings) 2,546 962
Cash flow hedge relationships (803) (1,000)
Defined benefit plans (13) 32
Total AOCI, net of taxes 1,730 (6)
Treasury stock, at cost, 75,819,987 shares and 75,824,353 shares, respectively (3,885) (3,885)
Total equity (See NOTE 11: STOCKHOLDERS’ EQUITY for information on our dividend
obligation to Treasury) 2,651 12,835
Total liabilities and equity $ 1,945,539 $ 1,966,061
The accompanying notes are an integral part of these consolidated financial statements.
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