Fannie Mae 2013 Annual Report Download - page 227

F-3
FANNIE MAE
(In conservatorship)
Consolidated Balance Sheets
(Dollars in millions, except share amounts)
As of December 31,
2013 2012
ASSETS
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 19,228 $ 21,117
Restricted cash (includes $23,982 and $61,976, respectively, related to consolidated trusts) . . . . . . . . . . . . . . . . . . . . . . . 28,995 67,919
Federal funds sold and securities purchased under agreements to resell or similar arrangements . . . . . . . . . . . . . . . . . . . . 38,975 32,500
Investments in securities:
Trading, at fair value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,768 40,695
Available-for-sale, at fair value (includes $998 and $935, respectively, related to consolidated trusts). . . . . . . . . . . . . 38,171 63,181
Total investments in securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68,939 103,876
Mortgage loans:
Loans held for sale, at lower of cost or fair value (includes $31 and $72, respectively, related to consolidated trusts). 380 464
Loans held for investment, at amortized cost:
Of Fannie Mae . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300,159 355,544
Of consolidated trusts (includes $14,268 and $10,800, respectively, at fair value and loans pledged as collateral
that may be sold or repledged of $442 and $943, respectively). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,769,547 2,652,193
Total loans held for investment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,069,706 3,007,737
Allowance for loan losses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (43,846) (58,795)
Total loans held for investment, net of allowance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,025,860 2,948,942
Total mortgage loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,026,240 2,949,406
Accrued interest receivable, net (includes $7,271 and $7,567, respectively, related to consolidated trusts) . . . . . . . . . . . . 8,319 9,176
Acquired property, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,621 10,489
Deferred tax assets, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47,560 —
Other assets (includes cash pledged as collateral of $1,590 and $1,222, respectively). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,231 27,939
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,270,108 $ 3,222,422
LIABILITIES AND EQUITY
Liabilities:
Accrued interest payable (includes $8,276 and $8,645, respectively, related to consolidated trusts) . . . . . . . . . . . . . . . . $ 10,553 $ 11,303
Debt:
Of Fannie Mae (includes $1,308 and $793, respectively, at fair value) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 529,434 615,864
Of consolidated trusts (includes $14,976 and $11,647, respectively, at fair value). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,705,089 2,573,653
Other liabilities (includes $488 and $1,059, respectively, related to consolidated trusts) . . . . . . . . . . . . . . . . . . . . . . . . . 15,441 14,378
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,260,517 3,215,198
Commitments and contingencies (Note 19). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — —
Fannie Mae stockholders’ equity:
Senior preferred stock, 1,000,000 shares issued and outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117,149 117,149
Preferred stock, 700,000,000 shares are authorized—555,374,922 shares issued and outstanding . . . . . . . . . . . . . . . . 19,130 19,130
Common stock, no par value, no maximum authorization—1,308,762,703 shares issued, 1,158,080,657 and
1,158,077,970 shares outstanding, respectively . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 687 687
Accumulated deficit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (121,227) (122,766)
Accumulated other comprehensive income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,203 384
Treasury stock, at cost, 150,682,046 and 150,684,733 shares, respectively . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (7,401) (7,401)
Total Fannie Mae stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,541 7,183
Noncontrolling interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 41
Total equity (See Note 1: Impact of U.S. Government Support and (Loss) Earnings per Share for information on our
dividend obligation to Treasury) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,591 7,224
Total liabilities and equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,270,108 $ 3,222,422
See Notes to Consolidated Financial Statements