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Fannie Mae 2011 Annual Report Download - page 240

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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, 2011 and 2010 ................................ F-3

Consolidated Statements of Operations and Comprehensive Loss for the years ended December 31,

2011, 2010, and 2009 ................................................................. F-4

Consolidated Statements of Cash Flows for the years ended December 31, 2011, 2010, and 2009 ....... F-5

Consolidated Statements of Equity (Deficit) for the years ended December 31, 2011, 2010 and 2009 .... F-6

Notes to Consolidated Financial Statements ................................................. F-7

Note 1— Summary of Significant Accounting Policies ..................................... F-7

Note 2— Consolidations and Transfers of Financial Assets .................................. F-38

Note 3— Mortgage Loans ............................................................ F-42

Note 4— Allowance for Loan Losses and Reserve for Guaranty Losses ........................ F-50

Note 5— Investments in Securities ..................................................... F-55

Note 6— Financial Guarantees ........................................................ F-63

Note 7— Acquired Property, Net ...................................................... F-67

Note 8— Short-Term Borrowings and Long-Term Debt .................................... F-68

Note 9— Derivative Instruments ....................................................... F-71

Note 10— Income Taxes .............................................................. F-75

Note 11— Loss Per Share ............................................................. F-78

Note 12— Stock-Based Compensation ................................................... F-79

Note 13— Employee Retirement Benefits ................................................ F-81

Note 14— Segment Reporting .......................................................... F-88

Note 15— Equity (Deficit) ............................................................ F-95

Note 16— Regulatory Capital Requirements .............................................. F-102

Note 17— Concentrations of Credit Risk ................................................. F-104

Note 18— Fair Value ................................................................. F-110

Note 19— Commitments and Contingencies .............................................. F-128

Note 20— Selected Quarterly Financial Information (Unaudited) .............................. F-132

F-1