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Fannie Mae 2010 Annual Report Download - page 259

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INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

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

Financial Statements ............................................................. F-3

Consolidated Balance Sheets as of December 31, 2010 and 2009 ............................ F-3

Consolidated Statements of Operations for the years ended December 31, 2010, 2009, and 2008 ..... F-4

Consolidated Statements of Cash Flows for the years ended December 31, 2010, 2009, and 2008 ..... F-5

Consolidated Statements of Changes in Equity (Deficit) for the years ended December 31, 2010, 2009,

and 2008 .................................................................... F-6

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

Note 1— Summary of Significant Accounting Policies ................................. F-8

Note 2— Adoption of the New Accounting Standards on the Transfers of Financial Assets and

Consolidation of Variable Interest Entities .......................................... F-36

Note 3— Consolidations and Transfers of Financial Assets .............................. F-45

Note 4— Mortgage Loans ...................................................... F-50

Note 5— Allowance for Loan Losses and Reserve for Guaranty Losses..................... F-55

Note 6— Investments in Securities . . .............................................. F-60

Note 7— Financial Guarantees and Master Servicing .................................. F-68

Note 8— Acquired Property, Net . . . .............................................. F-73

Note 9— Short-term Borrowings and Long-term Debt ................................. F-74

Note 10— Derivative Instruments and Hedging Activities ................................ F-77

Note 11— Income Taxes ........................................................ F-83

Note 12— Loss Per Share ....................................................... F-86

Note 13— Stock-Based Compensation .............................................. F-87

Note 14— Employee Retirement Benefits ........................................... F-89

Note 15— Segment Reporting .................................................... F-96

Note 16— Equity (Deficit) ...................................................... F-103

Note 17— Regulatory Capital Requirements .......................................... F-110

Note 18— Concentrations of Credit Risk ............................................ F-112

Note 19— Fair Value........................................................... F-117

Note 20— Commitments and Contingencies .......................................... F-134

Note 21— Selected Quarterly Financial Information (Unaudited) .......................... F-138

F-1