Fannie Mae 2010 Annual Report Download - page 297

As of
December 31,
2009
Transition
Impact
As of
January 1,
2010
(Dollars in millions)
Liabilities and Equity (Deficit)
Liabilities:
Accrued interest payable:
Of Fannie Mae . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,951 $ 8 $ 4,959
Of consolidated trusts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 10,564 10,593
Federal funds purchased and securities sold under agreements to
repurchase . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — —
Short-term debt:
Of Fannie Mae . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200,437 — 200,437
Of consolidated trusts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 6,425 6,425
Long-term debt:
Of Fannie Mae . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 567,950 (205) 567,745
Of consolidated trusts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,167 2,442,280 2,448,447
Reserve for guaranty losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54,430 (54,103) 327
Servicer and MBS trust payable. . . . . . . . . . . . . . . . . . . . . . . . . 25,872 (16,600) 9,272
Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,586 (14,573) 10,013
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 884,422 2,373,796 3,258,218
Fannie Mae’s stockholders’ equity (deficit):
Senior preferred stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60,900 — 60,900
Preferred stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,348 — 20,348
Common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 664 — 664
Additional paid-in capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,083 — 2,083
Accumulated deficit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (90,237) 6,706 (83,531)
Accumulated other comprehensive loss. . . . . . . . . . . . . . . . . . . . (1,732) (3,394) (5,126)
Treasury stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (7,398) — (7,398)
Total Fannie Mae stockholders’ deficit . . . . . . . . . . . . . . . . . . . . (15,372) 3,312 (12,060)
Noncontrolling interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91 (14) 77
Total equity (deficit). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (15,281) 3,298 (11,983)
Total liabilities and equity (deficit) . . . . . . . . . . . . . . . . . . . . . . . . $869,141 $2,377,094 $3,246,235
In the following sections, we describe the impacts to our consolidated balance sheet at the transition date in
the context of the three categories of transition adjustments noted above.
Net Recognition of the Assets and Liabilities of Newly Consolidated Entities
At the transition date, the majority of the net increase to both total assets and total liabilities resulted from the
recognition of the assets and liabilities of newly consolidated trusts. This includes the impact of derecognizing
our investments in Fannie Mae MBS issued from newly consolidated trusts. We describe the impacts to our
consolidated balance sheet resulting from the recognition of the assets and liabilities of newly consolidated
trusts below.
F-39
FANNIE MAE
(In conservatorship)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)