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Fannie Mae 2007 Annual Report Download - page 189

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INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

Page

Report of Independent Registered Public Accounting Firm .................................. F-2

Consolidated Balance Sheets as of December 31, 2007 and 2006 ............................. F-3

Consolidated Statements of Operations for the years ended December 31, 2007, 2006 and 2005 . ...... F-4

Consolidated Statements of Cash Flows for the years ended December 31, 2007, 2006 and 2005 ...... F-5

Consolidated Statements of Changes in Stockholders’ Equity for the years ended December 31, 2007,

2006 and 2005 ................................................................. F-6

Notes to Consolidated Financial Statements ............................................. F-7

Note 1— Summary of Significant Accounting Policies .................................. F-7

Note 2— Consolidations ........................................................ F-32

Note 3— Mortgage Loans ....................................................... F-35

Note 4— Allowance for Loan Losses and Reserve for Guaranty Losses ..................... F-39

Note 5— Investments in Securities ................................................. F-41

Note 6— Portfolio Securitizations ................................................. F-44

Note 7— Acquired Property, Net .................................................. F-48

Note 8— Financial Guaranties and Master Servicing ................................... F-48

Note 9— Short-term Borrowings and Long-term Debt .................................. F-52

Note 10— Derivative Instruments .................................................. F-55

Note 11— Income Taxes . ........................................................ F-57

Note 12— Earnings Per Share ..................................................... F-59

Note 13— Stock-Based Compensation Plans .......................................... F-60

Note 14— Employee Retirement Benefits ............................................ F-64

Note 15— Segment Reporting ..................................................... F-72

Note 16— Regulatory Capital Requirements .......................................... F-75

Note 17— Preferred Stock ........................................................ F-79

Note 18— Concentrations of Credit Risk ............................................. F-81

Note 19— Fair Value of Financial Instruments ......................................... F-86

Note 20— Commitments and Contingencies........................................... F-90

Note 21— Selected Quarterly Financial Information (Unaudited) ........................... F-95

Note 22— Subsequent Events ..................................................... F-98

F-1