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90 FANNIE MAE 2002 ANNUAL REPORT
Statements of Changes in Stockholders’ Equity
Accumulated
Net Additional Other Total
Common Shares Preferred Common Paid-In Retained Comprehensive Treasury Stockholders’
Dollars and shares in millions Outstanding Stock Stock Capital Earnings (Loss) Income Stock Equity
Balance, January 1, 2000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,019 $ 1,300 $ 593 $ 1,585 $ 18,417 $ (246) $ (4,020) $ 17,629
Comprehensive income:
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — 4,448 — — 4,448
Other comprehensive income, net of tax effect:
Unrealized gains on available-for-sale securities . . . . . . — — — — — 256 — 256
Total comprehensive income . . . . . . . . . . . . . . . . . . . . . . . . 4,704
Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — (1,246) — — (1,246)
Shares repurchased . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (25) — — — — — (1,406) (1,406)
Preferred stock issued . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 978 — (10) — — — 968
Tr easury stock issued for stock options and benefit plans . . . . . 5 — — 13 — — 176 189
Balance, December 31, 2000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 999 2,278 593 1,588 21,619 10 (5,250) 20,838
Comprehensive income:
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — 5,894 — — 5,894
Other comprehensive income, net of tax effect:
Transition adjustment from the adoption
of FAS 133 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — (3,972) — (3,972)
Unrealized gain on securities transferred
to available-for-sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — 86 — 86
Net cash flow hedging losses . . . . . . . . . . . . . . . . . . . . — — — — — (3,387) — (3,387)
Unrealized gains on available-for-sale securities . . . . . . — — — — — 198 — 198
Total comprehensive loss . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,181)
Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — (1,338) — — (1,338)
Shares repurchased . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (6) — — — — — (464) (464)
Preferred stock issued . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 400 — (4) — — — 396
Preferred stock redeemed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (375) — — — — — (375)
Tr easury stock issued for stock options and benefit plans . . . . . 4 — — 67 — — 175 242
Balance, December 31, 2001 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 997 2,303 593 1,651 26,175 (7,065) (5,539) 18,118
Comprehensive income:
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — 4,619 — — 4,619
Other comprehensive income, net of tax effect:
Net cash flow hedging losses . . . . . . . . . . . . . . . . . . . . . — — — — — (8,892) — (8,892)
Reclassification of securities from held-to-maturity
to available-for-sale under FAS 115 . . . . . . . . . . . . . . . . — — — — — 3,539 — 3,539
Unrealized gains on available-for-sale securities . . . . . . — — — — — 626 — 626
Total comprehensive loss . . . . . . . . . . . . . . . . . . . . . . . . . . . (108)
Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — (1,409) — — (1,409)
Shares repurchased . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (15) — — — — — (1,167) (1,167)
Preferred stock issued . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 1,000 — (9) — — — 991
Preferred stock redeemed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (625) — — — — — (625)
Tr easury stock issued for stock options and benefit plans . . . . . 3 — — 61 — — 127 188
Treasury stock issued for special contribution . . . . . . . . . . . . . . 4 — — 136 — — 164 300
Balance, December 31, 2002 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 989 $2,678 $593 $1,839 $29,385 $(11,792) $(6,415) $16,288
See Notes to Financial Statements.