Fannie Mae 2005 Annual Report Download - page 235

FANNIE MAE
Consolidated Statements of Changes in Stockholders’ Equity
(Dollars and shares in millions, except per share amounts)
Preferred Common
Preferred
Stock
Common
Stock
Additional
Paid-In
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Income
(1)
Treasury
Stock
Total
Stockholders’
Equity
Shares Outstanding
Balance as of January 1, 2003 .................. 53 989 $2,678 $593 $1,937 $21,638 $11,468 $(6,415) $31,899
Comprehensive income:
Net income . . .......................... — — — — — 8,081 — — 8,081
Other comprehensive income, net of tax effect:
Unrealized losses on available-for-sale securities (net
of tax of $3,381) ..................... — — — — — — (6,278) — (6,278)
Reclassification adjustment for losses included in net
income . .......................... — — — — — — 57 — 57
Unrealized gains on guaranty assets and guaranty fee
buy-ups (net of tax of $47) . . . ............ — — — — — — 88 — 88
Net cash flow hedging losses................ — — — — — — (18) — (18)
Minimum pension liability (net of tax of $1) ...... — — — — — — (2) — (2)
Total comprehensive income . ................ 1,928
Common stock dividends ($1.68 per share) . . . ....... — — — — — (1,646) — — (1,646)
Preferred stock:
Preferred dividends . . ..................... — — — — — (150) — — (150)
Preferred stock issued ..................... 29 — 1,430 — (13) — — — 1,417
Treasury stock:
Treasury stock acquired .................... — (22) — — — — — (1,390) (1,390)
Treasury stock issued for stock options and benefit
plans .............................. — 3 — — 61 — — 149 210
Balance as of December 31, 2003 ................ 82 970 4,108 593 1,985 27,923 5,315 (7,656) 32,268
Comprehensive income:
Net income . . .......................... — — — — — 4,967 — — 4,967
Other comprehensive income, net of tax effect:
Unrealized losses on available-for-sale securities (net
of tax of $483). . ..................... — — — — — — (897) — (897)
Reclassification adjustment for gains included in net
income . .......................... — — — — — — (17) — (17)
Unrealized losses on guaranty assets and guaranty fee
buy-ups (net of tax of $4) ................ — — — — — — (8) — (8)
Net cash flow hedging losses................ — — — — — — (3) — (3)
Minimum pension liability (net of tax of $2) ...... — — — — — — (3) — (3)
Total comprehensive income . ................ 4,039
Common stock dividends ($2.08 per share) . . . ....... — — — — — (2,020) — — (2,020)
Preferred stock:
Preferred dividends . . ..................... — — — — — (165) — — (165)
Preferred stock issued ..................... 50 — 5,000 — (75) — — — 4,925
Treasury stock:
Treasury stock acquired .................... — (7) — — — — — (523) (523)
Treasury stock issued for stock options and benefit
plans .............................. — 6 — — 72 — — 306 378
Balance as of December 31, 2004 ................ 132 969 9,108 593 1,982 30,705 4,387 (7,873) 38,902
Comprehensive income:
Net income . . .......................... — — — — — 6,347 — — 6,347
Other comprehensive income, net of tax effect:
Unrealized losses on available-for-sale securities (net
oftaxof$2,238) ..................... — — — — — — (4,156) — (4,156)
Reclassification adjustment for gains included in net
income . .......................... — — — — — — (432) — (432)
Unrealized gains on guaranty assets and guaranty fee
buy-ups (net of tax of $39) . . . ............ — — — — — — 72 — 72
Net cash flow hedging losses (net of tax of $2) . . . . . — — — — — — (4) — (4)
Minimum pension liability (net of tax of $1) ...... — — — — — — 2 — 2
Total comprehensive income . ................ — — — — — — — — 1,829
Common stock dividends ($1.04 per share) . . . ....... — — — — — (1,011) — — (1,011)
Preferred stock dividends ..................... — — — — — (486) — — (486)
Treasury stock issued for stock options and benefit plans . . — 2 — — (69) — — 137 68
Balance as of December 31, 2005 ................ 132 971 $9,108 $593 $1,913 $35,555 $ (131) $(7,736) $39,302
(1)
Accumulated Other Comprehensive Income as of December 31, 2005 is comprised of $300 million in net unrealized losses on available-for-sale securities,
net of tax, and $169 million in net unrealized gains on all other components, net of tax, and $4.3 billion and $5.2 billion of net unrealized gains on availa-
ble-for-sale securities, net of tax, and $99 million and $113 million net unrealized gains on all other components, net of tax, as of December 31, 2004 and
2003, respectively.
See Notes to Consolidated Financial Statements.
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