Fannie Mae 2005 Annual Report Download - page 232

FANNIE MAE
Consolidated Balance Sheets
(Dollars in millions, except share amounts)
2005 2004
As of December 31,
ASSETS
Cash and cash equivalents (includes cash equivalents that may be repledged of $686 and $242 as of
December 31, 2005 and 2004, respectively) ............................................ $ 2,820 $ 2,655
Restricted cash ................................................................ 755 1,046
Federal funds sold and securities purchased under agreements to resell . . . ......................... 8,900 3,930
Investments in securities:
Trading, at fair value (includes Fannie Mae MBS of $14,607 and $34,350 as of December 31, 2005 and 2004,
respectively). . . ............................................................ 15,110 35,287
Available-for-sale, at fair value (includes Fannie Mae MBS of $217,844 and $315,195 as of December 31,
2005 and 2004, respectively) . . .................................................. 390,964 532,095
Total investments in securities . .................................................. 406,074 567,382
Mortgage loans:
Loans held for sale, at lower of cost or market . . ........................................ 5,064 11,721
Loans held for investment, at amortized cost . . . ........................................ 362,781 390,000
Allowance for loan losses ...................................................... (302) (349)
Total loans held for investment, net of allowance . . ................................... 362,479 389,651
Total mortgage loans ...................................................... 367,543 401,372
Advances to lenders . ............................................................ 4,086 4,850
Accrued interest receivable . ....................................................... 3,506 4,237
Acquired property, net ........................................................... 1,771 1,704
Derivative assets at fair value ....................................................... 5,803 6,589
Guaranty assets ................................................................ 6,848 5,924
Deferred tax assets. . ............................................................ 7,684 6,074
Partnership investments ........................................................... 9,305 8,061
Other assets . ................................................................. 9,073 7,110
Total assets ................................................................. $834,168 $1,020,934
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Accrued interest payable . ....................................................... $ 6,616 $ 6,212
Federal funds purchased and securities sold under agreements to repurchase . . . .................... 705 2,400
Short-term debt . . ............................................................ 173,186 320,280
Long-term debt . . ............................................................ 590,824 632,831
Derivative liabilities at fair value . .................................................. 1,429 1,145
Reserve for guaranty losses (includes $71 and $113 as of December 31, 2005 and 2004, respectively, related
to Fannie Mae MBS included in Investments in securities). . . .............................. 422 396
Guaranty obligations (includes $506 and $814 as of December 31, 2005 and 2004, respectively, related to
Fannie Mae MBS included in Investments in securities) .................................. 10,016 8,784
Partnership liabilities ........................................................... 3,432 2,662
Other liabilities . . ............................................................ 8,115 7,246
Total liabilities . ............................................................ 794,745 981,956
Minority interests in consolidated subsidiaries ............................................ 121 76
Commitments and contingencies (see Note 19) . . . ........................................ — —
Stockholders’ Equity:
Preferred stock, 200,000,000 shares authorized—132,175,000 shares issued and outstanding as of
December 31, 2005 and 2004 . .................................................. 9,108 9,108
Common stock, no par value, no maximum authorization—1,129,090,420 shares issued as of December 31,
2005 and 2004; 970,532,789 shares and 969,075,573 shares outstanding as of December 31, 2005 and
2004, respectively ........................................................... 593 593
Additional paid-in capital . ....................................................... 1,913 1,982
Retained earnings . ............................................................ 35,555 30,705
Accumulated other comprehensive income (loss). ........................................ (131) 4,387
Treasury stock, at cost, 158,557,631 shares and 160,014,847 shares as of December 31, 2005 and 2004,
respectively ............................................................... (7,736) (7,873)
Total stockholders’ equity. . ...................................................... 39,302 38,902
Total liabilities and stockholders’ equity ................................................ $834,168 $1,020,934
See Notes to Consolidated Financial Statements.
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