Freddie Mac 2015 Annual Report Download - page 173

Management's Discussion and Analysis Contractual Obligations
Freddie Mac 2015 Form 10-K 171
• The guarantee arrangements pertaining to multifamily housing revenue bonds, where we provided
commitments to advance funds.
The table below presents our contractual obligations, by year, at December 31, 2015.
(in millions) Total 2016 2017 2018 2019 2020 Thereafter
Long-term debt(1) $ 304,388 $ 58,765 $ 91,543 $ 48,189 $ 31,352 $26,697 $47,842
Short-term debt(1) 113,633 113,633 — — — — —
Interest payable(2) 32,646 11,042 4,271 3,024 2,404 2,019 9,886
Other liabilities reflected
on our consolidated
balance sheet:
Other contractual
liabilities(3)(4) 2,464 1,751 8 7 6 7 685
Purchase obligations:
Purchase
commitments(5) 25,692 25,692 — — — — —
Other purchase
obligations(6) 1,371 194 149 137 128 104 659
Lease obligations 35 11 8 6 5 3 2
Total specified contractual
obligations $ 480,229 $ 211,088 $ 95,979 $ 51,363 $ 33,895 $28,830 $59,074
(1) Represents par value. Callable debt is included in this table at its contractual maturity. For additional information about our
debt, see Note 7.
(2) Includes estimated future interest payments on our short-term and long-term debt securities as well as the accrual of periodic
cash settlements of derivatives, netted by counterparty. Also includes accrued interest payable recorded on our consolidated
balance sheet.
(3) Includes obligations related to our qualified and non-qualified defined contribution plans, retiree medical plan, and other
benefit plans.
(4) Other contractual liabilities include future cash payments due under our contractual obligations to make delayed equity
contributions to LIHTC partnerships and payables to the consolidated trusts established for the administration of cash
remittances received related to the underlying assets of Freddie Mac mortgage-related securities.
(5) Purchase commitments represent our obligations to purchase loans and mortgage-related securities from third parties, most
of which are accounted for as derivatives in accordance with the accounting guidance for derivatives and hedging.
(6) Primarily includes unconditional purchase obligations that are legally binding and that are subject to a cancellation penalty.