Fannie Mae 2012 Annual Report Download - page 343

FANNIE MAE
(In conservatorship)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
F-109
Unconditional Purchase and Lease Commitments
We have unconditional commitments related to the purchase of loans and mortgage-related securities. These include both on-
and off-balance sheet commitments. A portion of these have been recorded as derivatives in our consolidated balance sheets.
Unfunded lending represents off-balance sheet commitments for the unutilized portion of lending agreements entered into
with multifamily borrowers.
We lease certain premises and equipment under agreements that expire at various dates through 2029. Some of these leases
provide for payment by the lessee of property taxes, insurance premiums, cost of maintenance and other costs. Rental
expenses for operating leases were $41 million, $40 million and $35 million for the years ended December 31, 2012, 2011
and 2010, respectively.
The following table summarizes by remaining maturity, non cancelable future commitments related to loan and mortgage
purchases, unfunded lending, operating leases, and other agreements as of December 31, 2012.
As of December 31, 2012
Loans and Mortgage-
Related Securities(1) Unfunded Lending Operating Leases Other(2)
(Dollars in millions)
2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $65,309 $ 11 $ 35 $ 51
2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 1 34 50
2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 4 30 22
2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 24 21
2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 22 1
Thereafter. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 9 —
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $65,310 $ 16 $ 154 $145
__________
(1) Includes $64.7 billion that has been accounted for as mortgage commitment derivatives.
(2) Includes purchase commitments for certain telecom services, computer software and services, and other agreements.