Fannie Mae 2010 Annual Report Download - page 359

The following tables display our segment results under our previous segment reporting presentation for the
years ended December 31, 2009 and 2008.
Single-
Family Multifamily
Capital
Markets Total
For the Year Ended December 31, 2009
(Dollars in millions)
Net interest income (expense)
(1)
. . . . . . . . . . . . . . . . . . . . . . $ 428 $ (193) $14,275 $ 14,510
Guaranty fee income (expense)
(2)
. . . . . . . . . . . . . . . . . . . . . 8,002 675 (1,466) 7,211
Investment gains (losses), net . . . . . . . . . . . . . . . . . . . . . . . . (2) — 1,460 1,458
Net other-than-temporary impairments . . . . . . . . . . . . . . . . . . — — (9,861) (9,861)
Fair value losses, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (2,811) (2,811)
Debt extinguishment losses, net . . . . . . . . . . . . . . . . . . . . . . . — — (325) (325)
Losses from partnership investments . . . . . . . . . . . . . . . . . . . — (6,735) — (6,735)
Fee and other income
(3)
............................ 354 100 319 773
Administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,419) (363) (425) (2,207)
Provision for credit losses . . . . . . . . . . . . . . . . . . . . . . . . . . . (70,463) (2,163) — (72,626)
Foreclosed property expense . . . . . . . . . . . . . . . . . . . . . . . . . (857) (53) — (910)
Other expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,216) (38) (230) (1,484)
Income (loss) before federal income taxes . . . . . . . . . . . . . . . (65,173) (8,770) 936 (73,007)
Benefit (provision) for federal income taxes . . . . . . . . . . . . . . 1,375 (311) (79) 985
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (63,798) (9,081) 857 (72,022)
Less: Net loss attributable to noncontrolling interest . . . . . . . — 53 — 53
Net income (loss) attributable to Fannie Mae . . . . . . . . . . . . $(63,798) $(9,028) $ 857 $(71,969)
(1)
Includes cost of capital charge.
(2)
The charge to Capital Markets represents an intercompany guaranty fee expense allocated to Capital Markets from
Single-Family and Multifamily for absorbing the credit risk on mortgage loans held in our portfolio.
(3)
Certain prior period amounts have been reclassified to conform to the current period presentation.
F-101
FANNIE MAE
(In conservatorship)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)