Fannie Mae 2009 Annual Report Download - page 110

in place. As a result, the amounts we discuss above are not intended to measure how much the program is
costing us in comparison to what it would cost us if we did not have the program at all.
BUSINESS SEGMENT RESULTS
We provide a more complete description of our business segments in “Business—Business Segments.” Results
of our three business segments are intended to reflect each segment as if it were a stand-alone business. We
describe the management reporting and allocation process used to generate our segment results in “Note 15,
Segment Reporting.” We summarize our segment results for the periods indicated in the tables below and
provide a discussion of these results.
Table 17: Business Segment Summary
2009 2008 2007
For the Year Ended December 31,
(Dollars in millions)
Net revenues:
(1)
Single-Family. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 8,784 $ 9,434 $ 7,062
Housing and Community Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 582 476 425
Capital Markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,128 7,526 3,718
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 22,494 $ 17,436 $11,205
Net income (loss):
Single-Family. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(63,798) $(27,101) $ (858)
Housing and Community Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (9,028) (2,189) 157
Capital Markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 857 (29,417) (1,349)
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(71,969) $(58,707) $ (2,050)
2009 2008 2007
As of December 31,
(Dollars in millions)
Total assets:
Single-Family . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 19,991 $ 24,115 $ 23,356
Housing and Community Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,698 10,994 15,094
Capital Markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 843,452 877,295 840,939
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $869,141 $912,404 $879,389
(1)
Includes net interest income, guaranty fee income, trust management income, and fee and other income.
Single-Family Business
Table 18 summarizes the financial results for our Single-Family business for the periods indicated.
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