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Fannie Mae 2008 Annual Report Download - page 279

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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, 2008 and 2007 ............................ F-3

Consolidated Statements of Operations for the years ended December 31, 2008, 2007 and 2006 ...... F-4

Consolidated Statements of Cash Flows for the years ended December 31, 2008, 2007 and 2006 ..... F-5

Consolidated Statements of Changes in Stockholders’ Equity (Deficit) for the years ended

December 31, 2008, 2007 and 2006 . . .............................................. F-6

Notes to Consolidated Financial Statements ............................................ F-8

Note 1— Organization and Conservatorship ......................................... F-8

Note 2— Summary of Significant Accounting Policies ................................. F-11

Note 3— Consolidations ....................................................... F-40

Note 4— Mortgage Loans ...................................................... F-45

Note 5— Allowance for Loan Losses and Reserve for Guaranty Losses..................... F-50

Note 6— Investments in Securities . . .............................................. F-52

Note 7— Portfolio Securitizations . . .............................................. F-56

Note 8— Financial Guarantees and Master Servicing .................................. F-62

Note 9— Acquired Property, Net . . . .............................................. F-68

Note 10— Short-term Borrowings and Long-term Debt ................................. F-68

Note 11— Derivative Instruments and Hedging Activities ................................ F-72

Note 12— Income Taxes ........................................................ F-75

Note 13— Earnings (Loss) Per Share . .............................................. F-78

Note 14— Stock-Based Compensation Plans ......................................... F-79

Note 15— Employee Retirement Benefits ........................................... F-83

Note 16— Segment Reporting .................................................... F-92

Note 17— Stockholders’ Equity (Deficit) ............................................ F-95

Note 18— Regulatory Capital Requirements .......................................... F-102

Note 19— Concentrations of Credit Risk ............................................ F-105

Note 20— Fair Value of Financial Instruments ........................................ F-110

Note 21— Commitments and Contingencies .......................................... F-120

Note 22— Selected Quarterly Financial Information (Unaudited) .......................... F-132

Note 23— Subsequent Events .................................................... F-135

F-1