Freddie Mac 2015 Annual Report Download - page 253
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Financial Statements Notes to the Consolidated Financial Statements | Note 6
Freddie Mac 2015 Form 10-K 251
AVAILABLE-FOR-SALE SECURITIES
At December 31, 2015 and 2014, all available-for-sale securities were mortgage-related securities.
The following table presents, by major security type, the amortized cost, estimated fair values, and
corresponding gross unrealized gains and losses for our securities classified as available-for-sale.
December 31, 2015
Gross Unrealized Losses
(in millions) Amortized
Cost
Gross
Unrealized
Gains
Other-Than-
Temporary
Impairment(1) Temporary
Impairment(2) Fair
Value
Available-for-sale securities:
Freddie Mac $ 32,684 $ 942 $ — $ (99) $ 33,527
Fannie Mae 7,033 265 —(36)7,262
Ginnie Mae 150 12 — — 162
CMBS 12,009 450 (2) (9) 12,448
Subprime 12,499 653 (295)(55)12,802
Option ARM 3,423 317 (56) (6) 3,678
Alt-A and other 2,788 506 (11) (5) 3,278
Obligations of states and political
subdivisions 1,187 19 — (1) 1,205
Manufactured housing 488 87 — — 575
Total available-for-sale securities $ 72,261 $ 3,251 $(364) $ (211) $ 74,937
December 31, 2014
Gross Unrealized Losses
(in millions) Amortized
Cost
Gross
Unrealized
Gains
Other-Than-
Temporary
Impairment(1) Temporary
Impairment(2) Fair
Value
Available-for-sale securities:
Freddie Mac $ 37,710 $ 1,435 $ — $ (46) $ 39,099
Fannie Mae 10,860 463 —(10)11,313
Ginnie Mae 183 16 — — 199
CMBS 20,988 890 (2) (54)21,822
Subprime 20,210 989 (518)(92)20,589
Option ARM 5,460 372 (179) (4) 5,649
Alt-A and other 4,500 578 (29) (6) 5,043
Obligations of states and political
subdivisions 2,166 34 — (2) 2,198
Manufactured housing 556 84 (2) — 638
Total available-for-sale securities $ 102,633 $ 4,861 $(730) $ (214) $ 106,550
(1) Represents the gross unrealized losses for securities for which we have previously recognized other-than-temporary
impairments in earnings.
(2) Represents the gross unrealized losses for securities for which we have not previously recognized other-than-temporary
impairments in earnings.