v3.25.4
Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest income:      
Mortgage loans $ 152,149 $ 144,152 $ 133,234
Securities purchased under agreements to resell 3,354 4,170 4,427
Investments in securities and other 3,115 2,244 2,053
Total interest income 158,618 150,566 139,714
Interest expense:      
Short-term debt (585) (595) (672)
Long-term debt (129,425) (121,223) (110,269)
Total interest expense (130,010) (121,818) (110,941)
Net interest income 28,608 28,748 28,773
Fair value gains (losses), net 90 1,821 1,304
Fee and other income 356 321 275
Investment gains (losses), net 105 (96) (265)
Non-interest income 551 2,046 1,314
(Provision) benefit for credit losses (1,606) 186 1,670
Non-interest expense:      
Salaries and employee benefits (2,094) (2,004) (1,906)
Professional services, technology, and occupancy (1,485) (1,615) (1,539)
Legislative assessments (3,749) (3,766) (3,745)
Credit enhancement expense (1,656) (1,641) (1,512)
Other income (expense), net (586) (685) (1,099)
Total non-interest expense (9,570) (9,711) (9,801)
Income before federal income taxes 17,983 21,269 21,956
Provision for federal income taxes (3,619) (4,291) (4,548)
Net income 14,364 16,978 17,408
Other comprehensive income (loss) (9) (3) (3)
Total comprehensive income 14,355 16,975 17,405
Dividends distributed or amounts attributable to senior preferred stock (14,355) (16,975) (17,405)
Net income attributable to common stockholders, basic 9 3 3
Net income attributable to common stockholders, diluted $ 9 $ 3 $ 3
Earnings per share:      
Basic (in dollars per share) $ 0.00 $ 0.00 $ 0.00
Diluted (in dollars per share) $ 0.00 $ 0.00 $ 0.00
Weighted-average common shares outstanding:      
Basic (in shares) 5,867 5,867 5,867
Diluted (in shares) 5,893 5,893 5,893