Fannie Mae 2013 Annual Report Download - page 288

FANNIE MAE
(In conservatorship)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
F-64
For the Year Ended December 31, 2012(11)
Business Segments Other Activity/Reconciling Items
Single-
Family Multifamily Capital Markets Consolidated Trusts(1) Eliminations/ Adjustments(2) Total Results
(Dollars in millions)
Net interest (loss) income. . . . . . . $ (790) $ (13) $ 13,241 $ 7,156 $ 1,907 (3) $ 21,501
Benefit for credit losses . . . . . . . . 672 180 — — — 852
Net interest (loss) income after
benefit for credit losses. . . . . . . (118) 167 13,241 7,156 1,907 22,353
Guaranty fee income (expense)(4). 8,151 1,040 (1,291)(4,737)(5) (2,951)(5) 212 (5)
Investment gains (losses), net. . . . 8 37 6,217 (1)(5,774)(6) 487
Net other-than-temporary
impairments . . . . . . . . . . . . . . . — — (711)(2) — (713)
Fair value losses, net . . . . . . . . . . (8) — (3,041)(313) 385 (7) (2,977)
Debt extinguishment (losses)
gains, net. . . . . . . . . . . . . . . . . . — — (277) 33 — (244)
Gains from partnership
investments(8) . . . . . . . . . . . . . . — 123 — — (4) 119
Fee and other income (expense). . 759 207 717 (395)(13) 1,275
Administrative expenses . . . . . . . (1,590) (269) (508) — — (2,367)
Foreclosed property income. . . . . 247 7 — — — 254
TCCA fees(4) . . . . . . . . . . . . . . . . . (238) — — — — (238)
Other expenses . . . . . . . . . . . . . . . (841) (5) (22) — (73)(941)
Income before federal income
taxes . . . . . . . . . . . . . . . . . . . . . 6,370 1,307 14,325 1,741 (6,523) 17,220
(Provision) benefit for federal
income taxes . . . . . . . . . . . . . . . (80) 204 (124) — — —
Net income . . . . . . . . . . . . . . . 6,290 1,511 14,201 1,741 (6,523) 17,220
Less: Net loss attributable to
noncontrolling interest . . . . — — — — 4 (10) 4
Net income attributable to
Fannie Mae . . . . . . . . . . . . . $ 6,290 $ 1,511 $ 14,201 $ 1,741 $(6,519) $ 17,224