Freddie Mac 2015 Annual Report Download - page 291

Financial Statements Notes to the Consolidated Financial Statements | Note 12
Freddie Mac 2015 Form 10-K 289
Year Ended December 31, 2014
Total
Segment
Earnings
(Loss),
Net of Tax
Reconciliation to Consolidated Statements of
Comprehensive Income Total per
Consolidated
Statements of
Comprehensive
Income(in millions)
Single-
family
Guarantee Multifamily Investments All Other Reclassifications Segment Adjustments
Total
Reconciling
Items
Net interest income
(expense) $ (111) $ 948 $2,966 $ — $ 3,803 $ 9,825 $ 635 $ 10,460 $ 14,263
Benefit (Provision) for
credit losses (982) 55 —— (927) 869 — 869 (58)
Non-interest income
(loss):
Management and
guarantee income(1) 4,397 254 — — 4,651 (4,019) (303) (4,322) 329
Net impairment of
available-for-sale
securities recognized
in earnings — — (140) — (140) (798) — (798) (938)
Derivative gains
(losses) 7 335 (5,158) — (4,816) (3,475) — (3,475) (8,291)
Gains (losses) on
trading securities — 58 (276) — (218) — — — (218)
Gains (losses) on
loans (139) 870 — — 731 — — — 731
Other non-interest
income 844 176 8,881 — 9,901 (1,627) — (1,627) 8,274
Non-interest expense:
Administrative
expense (1,170) (274)(437) — (1,881) — — — (1,881)
REO operations
(expense) income (205) 9 —— (196) — — — (196)
Other non-interest
(expense) income (191) (23) (6) (18) (238) (775) — (775) (1,013)
Segment adjustments (303) — 635 — 332 — (332) (332) —
Income tax (expense)
benefit (600) (772)(1,945)5(3,312) — — — (3,312)
Net income (loss) 1,547 1,636 4,520 (13) 7,690 — — — 7,690
Changes in unrealized
gains (losses) related to
available-for-sale
securities — (175)1,759 — 1,584 — — — 1,584
Changes in unrealized
gains (losses) related to
cash flow hedge
relationships — — 197 — 197 — — — 197
Changes in defined
benefit plans (10) (2) (5) (28) (45) — — — (45)
Total other
comprehensive income
(loss), net of taxes (10) (177)1,951 (28) 1,736 — — — 1,736
Comprehensive income
(loss) $ 1,537 $ 1,459 $6,471 $ (41) $ 9,426 $ — $ — $ — $ 9,426