Print Page  |  Close Window

SEC Filings

10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 11/02/2018
Entire Document
 
 
 Financial Statements | Condensed Consolidated Balance Sheets


Item 1.  Financial Statements
FANNIE MAE
(In conservatorship)
Condensed Consolidated Balance Sheets — (Unaudited)
(Dollars in millions, except share amounts)
 
As of
 
September 30,
 
December 31,
 
2018
 
2017
ASSETS
Cash and cash equivalents
 
$
27,789

 
 
 
$
32,110

 
Restricted cash (includes $17,835 and $22,132, respectively, related to consolidated trusts)
 
23,242

 
 
 
28,150

 
Federal funds sold and securities purchased under agreements to resell or similar arrangements
 
26,598

 
 
 
19,470

 
Investments in securities:
 
 
 
 
 
 
 
Trading, at fair value (includes $3,734 and $747, respectively, pledged as collateral)
 
43,901

 
 
 
34,679

 
Available-for-sale, at fair value
 
3,537

 
 
 
4,843

 
Total investments in securities
 
47,438

 
 
 
39,522

 
Mortgage loans:
 
 
 
 
 
 
 
Loans held for sale, at lower of cost or fair value
 
10,572

 
 
 
4,988

 
Loans held for investment, at amortized cost:
 
 
 
 
 
 
 
Of Fannie Mae
 
126,674

 
 
 
162,809

 
Of consolidated trusts
 
3,111,551

 
 
 
3,029,812

 
Total loans held for investment (includes $9,153 and $10,596, respectively, at fair value)
 
3,238,225

 
 
 
3,192,621

 
Allowance for loan losses
 
(15,663
)
 
 
 
(19,084
)
 
Total loans held for investment, net of allowance
 
3,222,562

 
 
 
3,173,537

 
Total mortgage loans
 
3,233,134

 
 
 
3,178,525

 
Deferred tax assets, net
 
14,368

 
 
 
17,350

 
Accrued interest receivable, net (includes $8,234 and $7,560, respectively, related to consolidated trusts)
 
8,792

 
 
 
8,133

 
Acquired property, net
 
2,722

 
 
 
3,220

 
Other assets
 
17,022

 
 
 
19,049

 
Total assets
 
$
3,401,105

 
 
 
$
3,345,529

 
LIABILITIES AND EQUITY (DEFICIT)
Liabilities:
 
 
 
 
 
 
 
Accrued interest payable (includes $8,942 and $8,598, respectively, related to consolidated trusts)
 
$
10,105

 
 
 
$
9,682

 
Debt:
 
 
 
 
 
 
 
Of Fannie Mae (includes $7,251 and $8,186, respectively, at fair value)
 
246,682

 
 
 
276,752

 
Of consolidated trusts (includes $24,948 and $30,493, respectively, at fair value)
 
3,127,688

 
 
 
3,053,302

 
Other liabilities (includes $322 and $492, respectively, related to consolidated trusts)
 
9,655

 
 
 
9,479

 
Total liabilities
 
3,394,130

 
 
 
3,349,215

 
Commitments and contingencies (Note 14)
 

 
 
 

 
Fannie Mae stockholders’ equity (deficit):
 
 
 
 
 
 
 
Senior preferred stock, 1,000,000 shares issued and outstanding
 
120,836

 
 
 
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 and 1,158,087,567 shares outstanding
 
687

 
 
 
687

 
Accumulated deficit
 
(126,591
)
 
 
 
(133,805
)
 
Accumulated other comprehensive income
 
313

 
 
 
553

 
Treasury stock, at cost, 150,675,136 shares
 
(7,400
)
 
 
 
(7,400
)
 
Total stockholders’ equity (deficit) (See Note 1: Senior Preferred Stock Purchase Agreement and Senior Preferred Stock for information on our dividend obligation to Treasury)
 
6,975

 
 
 
(3,686
)
 
Total liabilities and equity (deficit)
 
$
3,401,105

 
 
 
$
3,345,529

 





See Notes to Condensed Consolidated Financial Statements

Fannie Mae (In conservatorship) Third Quarter 2018 Form 10-Q
52