Freddie Mac 2012 Annual Report Download - page 286

Year Ended December 31, 2010
Investments
Single-family
Guarantee Multifamily All Other
Total Segment
Earnings (Loss),
Net of Taxes
Reconciliation to Consolidated Statements of
Comprehensive Income Total per
Consolidated
Statements of
Comprehensive
IncomeReclassifications (1)
Segment
Adjustments (2)
Total
Reconciling
Items
(in millions)
Net interest income .................. $ 6,192 $ 72 $1,114 $— $ 7,378 $ 8,120 $1,358 $ 9,478 $ 16,856
Provision for credit losses ............. — (18,785) (99) — (18,884) 1,666 — 1,666 (17,218)
Non-interest income (loss):
Management and guarantee income(3) .... — 3,635 101 — 3,736 (2,640) (953) (3,593) 143
Net impairment of available-for-sale
securities recognized in earnings ..... (3,819) — (96) — (3,915) (393) — (393) (4,308)
Derivative gains (losses) ............ (1,859) — 6 — (1,853) (6,232) — (6,232) (8,085)
Gains (losses) on trading securities ..... (1,386) — 47 — (1,339) — — — (1,339)
Gains (losses) on sale of mortgage
loans ......................... (76) — 343 — 267 — — — 267
Gains (losses) on mortgage loans recorded
at fair value .................... 34 — (283) — (249) — — — (249)
Other non-interest income (loss) ....... 1,023 1,351 130 — 2,504 (521) — (521) 1,983
Non-interest expense:
Administrative expenses ............. (455) (930) (212) — (1,597) — — — (1,597)
REO operations income (expense) ..... — (676) 3 — (673) — — — (673)
Other non-interest expense ........... (18) (578) (66) — (662) — — — (662)
Segment adjustments(2) ................ 1,358 (953) — — 405 — (405) (405) —
Income tax (expense) benefit ........... 259 608 (26) 15 856 — — — 856
Net income (loss) ................... 1,253 (16,256) 962 15 (14,026) — — — (14,026)
Less: net (income) loss—noncontrolling
interests ....................... (2) — 3 — 1 — — — 1
Net income (loss) attributable to Freddie
Mac............................ 1,251 (16,256) 965 15 (14,025) — — — (14,025)
Total other comprehensive income, net of
taxes ........................... 10,226 6 4,075 — 14,307 — — — 14,307
Total comprehensive income (loss)
attributable to Freddie Mac ........... $11,477 $(16,250) $5,040 $15 $ 282 $ — $ — $ — $ 282
(1) See “Segment Earnings — Investment Activity-Related Reclassifications” and “— Credit Guarantee Activity-Related Reclassifications” for information
regarding these reclassifications.
(2) See “Segment Earnings — Segment Adjustments” for information regarding these adjustments.
(3) Management and guarantee income total per consolidated statements of comprehensive income is included in other income on our GAAP consolidated
statements of comprehensive income.
281 Freddie Mac