Fannie Mae 2007 Annual Report Download - page 67

Item 6. Selected Financial Data
The selected consolidated financial data presented below is summarized from our results of operations for the
five-year period ended December 31, 2007, as well as selected consolidated balance sheet data as of the end
of each year within this five-year period. The data presented below should be read in conjunction with the
audited consolidated financial statements and related notes and with “Item 7—MD&A” included in this annual
report on Form 10-K.
2007 2006 2005 2004 2003
For the Year Ended December 31,
(Dollars in millions, except per share amounts)
Statement of Operations Data:
Net interest income
(1)
. . . . . . . . . . . . . . . . . . . . . . . . $ 4,581 $ 6,752 $ 11,505 $ 18,081 $ 19,477
Guaranty fee income
(2)
. . . . . . . . . . . . . . . . . . . . . . . . 5,071 4,250 4,006 3,784 3,432
Losses on certain guaranty contracts . . . . . . . . . . . . . . (1,424) (439) (146) (111) (95)
Trust management income
(1)
.................... 588 111 — — —
Derivatives fair value losses, net . . . . . . . . . . . . . . . . . (4,113) (1,522) (4,196) (12,256) (6,289)
Other income (loss), net
(2)(3)
. . . . . . . . . . . . . . . . . . . . (1,533) (675) (806) (881) (4,276)
Credit-related expenses
(4)
. . . . . . . . . . . . . . . . . . . . . . 5,012 783 428 363 353
Income before extraordinary gains (losses) and
cumulative effect of change in accounting principle . . (2,035) 4,047 6,294 4,975 7,852
Extraordinary gains (losses), net of tax effect . . . . . . . . (15) 12 53 (8) 195
Cumulative effect of change in accounting principle, net
of tax effect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — 34
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . (2,050) 4,059 6,347 4,967 8,081
Preferred stock dividends and issuance costs at
redemption . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (513) (511) (486) (165) (150)
Net income (loss) available to common
stockholders . . . . . . . . . . . . . . . . . . . . . . . . . . (2,563) 3,548 5,861 4,802 7,931
Per Common Share Data:
Earnings (loss) per share before extraordinary gains
(losses) and cumulative effect of change in
accounting principle:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (2.62) $ 3.64 $ 5.99 $ 4.96 $ 7.88
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2.62) 3.64 5.96 4.94 7.85
Earnings (loss) per share after extraordinary gains
(losses) and cumulative effect of change in
accounting principle:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (2.63) $ 3.65 $ 6.04 $ 4.95 $ 8.12
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2.63) 3.65 6.01 4.94 8.08
Weighted-average common shares outstanding:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 973 971 970 970 977
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 973 972 998 973 981
Cash dividends declared per share . . . . . . . . . . . . . . . . $ 1.90 $ 1.18 $ 1.04 $ 2.08 $ 1.68
New Business Acquisition Data:
Fannie Mae MBS issues acquired by third parties
(5)
. . . $563,648 $417,471 $465,632 $462,542 $ 850,204
Mortgage portfolio purchases
(6)
. . . . . . . . . . . . . . . . . . 182,471 185,507 146,640 262,647 572,852
New business acquisitions . . . . . . . . . . . . . . . . . . . . $746,119 $602,978 $612,272 $725,189 $1,423,056
45