Fannie Mae 2007 Annual Report Download - page 194

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 (Loss)
(1)
Treasury
Stock
Total
Stockholders’
Equity
Shares Outstanding
Balance as of January 1, 2005 ............. 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 of tax of $2,238) ....... — — — — — — (4,156) — (4,156)
Reclassification adjustment for gains included
in net income (net of tax of $233) . . . . . . — — — — — — (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
taxof$2).................... — — — — — — (4) — (4)
Minimum pension liability (net of
taxof$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
Comprehensive income:
Net income . . . .................. — — — — — 4,059 — — 4,059
Other comprehensive income, net of tax effect:
Unrealized losses on available-for-sale
securities (net of tax of $73) . . ....... — — — — — — (135) — (135)
Reclassification adjustment for gains included
in net income (net of tax of $77) ....... — — — — — — (143) — (143)
Unrealized gains on guaranty assets and
guaranty fee buy-ups (net of tax of $23) . . . — — — — — — 43 — 43
Net cash flow hedging losses (net of
taxof$2).................... — — — — — — (3) — (3)
Minimum pension liability (net of
taxof$2).................... — — — — — — 4 — 4
Total comprehensive income . . . . . ....... 3,825
Adjustment to apply SFAS 158 (net of tax of
$55) . . . ...................... — — — — — — (80) — (80)
Common stock dividends ($1.18 per share) . . . . . — — — — — (1,148) — — (1,148)
Preferred stock dividends . .............. — — — — — (511) — — (511)
Treasury stock issued for stock options and benefit
plans . . . ...................... — 1 — — 29 — — 89 118
Balance as of December 31, 2006 ........... 132 972 9,108 593 1,942 37,955 (445) (7,647) 41,506
Cumulative effect from the adoption of FIN 48, net
oftax......................... — — — — — 4 — — 4
Balance as of January 1, 2007, adjusted ....... 132 972 9,108 593 1,942 37,959 (445) (7,647) 41,510
Comprehensive loss:
Net loss . ...................... — — — — — (2,050) — — (2,050)
Other comprehensive loss, net of tax effect:
Unrealized losses on available-for-sale
securities (net of tax of $293) . ....... — — — — — — (544) — (544)
Reclassification adjustment for gains included
in net income (net of tax of $282) . . . . . . — — — — — — (523) — (523)
Unrealized gains on guaranty assets and
guaranty fee buy-ups (net of tax of $13) . . . — — — — — — 25 — 25
Net cash flow hedging losses (net of
taxof$2).................... — — — — — — (3) — (3)
Prior service cost and actuarial gains, net of
amortization for defined benefit plans (net
of tax of $73) . . . .............. — — — — — — 128 — 128
Total comprehensive loss .............. (2,967)
Common stock dividends ($1.90 per share) . . . . . — — — — — (1,858) — — (1,858)
Preferred stock dividends . .............. — — — — — (503) — — (503)
Preferred stock issued . . . .............. 356 — 8,905 — (94) — — — 8,811
Preferred stock redeemed . .............. (22) — (1,100) — — — — — (1,100)
Treasury stock issued for stock options and benefit
plans . . . ...................... — 2 — — (17) — — 135 118
Balance as of December 31, 2007 ........... 466 974 $16,913 $593 $1,831 $33,548 $(1,362) $(7,512) $44,011
(1)
Accumulated Other Comprehensive Income (Loss) is comprised of $1,644 million, $577 million and $300 million in net unrealized losses on available-for-sale
securities, net of tax, and $282 million, $132 million and $169 million in net unrealized gains on all other components, net of tax, as of December 31, 2007,
2006 and 2005, respectively.
See Notes to Consolidated Financial Statements.
F-6