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SEC Filings

10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 05/07/2015
Entire Document
 





FANNIE MAE
(In conservatorship)
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
(UNAUDITED)


12. Equity
The following table displays the activity in other comprehensive income (“OCI”), net of tax, by major categories for the three months ended March 31, 2015 and 2014.
 
 
For the Three Months Ended March 31,
 
 
2015
 
2014
 
(Dollars in millions)
Net income
 
$
1,888

 
$
5,325

Other comprehensive income, net of tax effect:
 
 
 
 
Changes in net unrealized gains on AFS securities (net of tax of $13 and $184, respectively)
 
24

 
340

Reclassification adjustment for OTTI recognized in net income (net of tax of $60 and $18, respectively)
 
110

 
33

Reclassification adjustment for gains on AFS securities included in net income (net of tax of $121 and $-, respectively)
 
(225
)
 
(1
)
Other
 
(1
)
 

Total other comprehensive (loss) income
 
(92
)
 
372

Total comprehensive income
 
$
1,796

 
$
5,697

The following table displays our accumulated other comprehensive income (“AOCI”) by major categories as of March 31, 2015 and December 31, 2014.
 
 
As of
 
 
March 31,
 
December 31,
 
2015
 
2014
 
(Dollars in millions)
 
Net unrealized gains on AFS securities for which we have not recorded OTTI, net of tax
 
$
667

 
 
 
$
592

 
Net unrealized gains on AFS securities for which we have recorded OTTI, net of tax
 
1,363

 
 
 
1,529

 
Prior service cost and actuarial losses, net of amortization, net of tax
 
(359
)
 
 
 
(358
)
 
Other losses
 
(30
)
 
 
 
(30
)
 
Accumulated other comprehensive income
 
$
1,641

 
 
 
$
1,733

 



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