Fannie Mae 2005 Annual Report Download - page 66

(6)
The sum of (a) core capital and (b) the total allowance for loan losses and reserve for guaranty losses, less (c) the
specific loss allowance (that is, the allowance required on individually-impaired loans).
(7)
Unpaid principal balance of mortgage loans and mortgage-related securities held in our portfolio.
(8)
Unpaid principal balance of Fannie Mae MBS held by third-party investors. The principal balance of resecuritized
Fannie Mae MBS is included only once.
(9)
Includes additional credit enhancements that we provide not otherwise reflected in the table.
(10)
Net income available to common stockholders divided by average total assets.
(11)
Net income available to common stockholders divided by average outstanding common equity.
(12)
Average stockholders’ equity divided by average total assets.
(13)
Common dividend payments divided by net income available to common stockholders.
(14)
Guaranty fee income as a percentage of average outstanding Fannie Mae MBS and other guaranties.
(15)
Charge-offs, net of recoveries and foreclosed property expense (income), as a percentage of the average mortgage
credit book of business.
(16)
“Earnings” includes reported income before extraordinary gains (losses), net of tax effect and cumulative effect of
change in accounting principle, net of tax effect plus (a) provision for federal income taxes, minority interest in earn-
ings of consolidated subsidiaries, loss from partnership investments, capitalized interest and total interest expense.
“Combined fixed charges and preferred stock dividends and issuance costs at redemption” includes (a) fixed charges
(b) preferred stock dividends and issuance costs on redemptions of preferred stock, defined as pretax earnings
required to pay dividends on outstanding preferred stock using our effective income tax rate for the relevant periods.
Fixed charges represent total interest expense and capitalized interest.
Note:
* Average balances for purposes of the ratio calculations are based on beginning and end of year balances.
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