Freddie Mac 2012 Annual Report Download - page 211

FREDDIE MAC
CONSOLIDATED BALANCE SHEETS
December 31, 2012 December 31, 2011
(in millions,
except share-related amounts)
Assets
Cash and cash equivalents (includes $1 and $2, respectively, related to our consolidated VIEs) .......... $ 8,513 $ 28,442
Restricted cash and cash equivalents (includes $14,289 and $27,675, respectively, related to our
consolidated VIEs) ............................................................... 14,592 28,063
Federal funds sold and securities purchased under agreements to resell (includes $19,250 and $0,
respectively, related to our consolidated VIEs) ........................................... 37,563 12,044
Investments in securities:
Available-for-sale, at fair value (includes $132 and $204, respectively, pledged as collateral that may be
repledged) .................................................................... 174,896 210,659
Trading, at fair value .............................................................. 41,492 58,830
Total investments in securities ....................................................... 216,388 269,489
Mortgage loans:
Held-for-investment, at amortized cost:
By consolidated trusts (net of allowances for loan losses of $4,919 and $8,351, respectively) ........ 1,495,932 1,564,131
Unsecuritized (net of allowances for loan losses of $25,788 and $30,912, respectively) ............ 176,177 207,418
Total held-for-investment mortgage loans, net ........................................ 1,672,109 1,771,549
Held-for-sale, at fair value .......................................................... 14,238 9,710
Total mortgage loans, net ........................................................... 1,686,347 1,781,259
Accrued interest receivable (includes $5,426 and $6,242, respectively, related to our consolidated VIEs) . . . 6,875 8,062
Derivative assets, net ................................................................ 657 118
Real estate owned, net (includes $45 and $60, respectively, related to our consolidated VIEs) ........... 4,378 5,680
Deferred tax assets, net .............................................................. 778 3,546
Other assets (Note 18) (includes $7,986 and $6,083, respectively, related to our consolidated VIEs) ....... 13,765 10,513
Total assets ..................................................................... $1,989,856 $2,147,216
Liabilities and equity (deficit)
Liabilities
Accrued interest payable (includes $5,142 and $5,943, respectively, related to our consolidated VIEs) ..... $ 7,710 $ 8,898
Debt, net:
Debt securities of consolidated trusts held by third parties (includes $70 and $0 at fair value,
respectively) .................................................................. 1,419,524 1,471,437
Other debt (includes $2,187 and $3,015 at fair value, respectively) ............................. 547,518 660,546
Total debt, net ................................................................... 1,967,042 2,131,983
Derivative liabilities, net ............................................................. 178 435
Other liabilities (Note 18) (includes $1 and $3, respectively, related to our consolidated VIEs) ........... 6,099 6,046
Total liabilities .................................................................. 1,981,029 2,147,362
Commitments and contingencies (Notes 9, 10, and 17)
Equity (deficit)
Senior preferred stock, at redemption value .............................................. 72,336 72,171
Preferred stock, at redemption value ................................................... 14,109 14,109
Common stock, $0.00 par value, 4,000,000,000 shares authorized, 725,863,886 shares issued and
650,033,623 shares and 649,725,302 shares outstanding, respectively ......................... — —
Additional paid-in capital ........................................................... 1 3
Retained earnings (accumulated deficit) ................................................ (70,796) (74,525)
AOCI, net of taxes, related to:
Available-for-sale securities (includes $6,606 and $10,334, respectively, related to net unrealized losses
on securities for which other-than-temporary impairment has been recognized in earnings) ........ (1,444) (6,213)
Cash flow hedge relationships ...................................................... (1,316) (1,730)
Defined benefit plans ............................................................ (178) (52)
Total AOCI, net of taxes ........................................................ (2,938) (7,995)
Treasury stock, at cost, 75,830,263 shares and 76,138,584 shares, respectively .................... (3,885) (3,909)
Total equity (deficit) .............................................................. 8,827 (146)
Total liabilities and equity (deficit) .................................................... $1,989,856 $2,147,216
The accompanying notes are an integral part of these consolidated financial statements.
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